Is Orange County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Orange County has remained a Seller's Market.
Key Takeaway
Orange County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Orange County, CA
How much do homes in Orange County, CA cost?
Median Sold Price
$1,013,775
$600/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Orange County have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Orange County was $1,013,775 in November 2023, up 2.1% from last year, and the median price per square foot was $600.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $433.5K | $430K | -0.8% |
| 2 Bedrooms | $640.3K | $654.6K | +2.2% |
| 3 Bedrooms | $949.9K | $954.6K | 0.5% |
| 4 Bedrooms | $1.3M | $1.3M | +1.5% |
| 5+ Bedrooms | $1.8M | $1.8M | -1.6% |
Summary: Orange County housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 0.8%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 1.6%.
Median Sold Price Compared To Nearby Counties
| San Diego County | $819.4K | $840.6K | +2.6% |
| Orange County | $992.7K | $1.0M | +2.1% |
| San Bernardino County | $499.9K | $498.1K | -0.4% |
| Los Angeles County | $862.7K | $854.3K | -1.0% |
| Riverside County | $584K | $576.1K | -1.4% |
Housing Supply in Orange County, CA
How many homes are available in Orange County, CA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 5,318 | 4,808 | -9.6% |
Summary: The Orange County real estate market had 4,808 homes for sale in November 2023, a 9.6% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 208 | 197 | -5.3% |
| 2 Bedrooms | 1,165 | 1,057 | -9.3% |
| 3 Bedrooms | 1,682 | 1,513 | -10.0% |
| 4 Bedrooms | 1,496 | 1,373 | -8.2% |
| 5+ Bedrooms | 767 | 668 | -12.9% |
Summary: The Orange County housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.3%, 2 bedroom homes decreased by 9.3%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 8.2%, and 5+ bedroom homes decreased by 12.9%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 1,574 | 1,319 | -16.2% |
Asking Price vs. Sold Price
568 Homes Were Sold
Under Asking
223 Homes Were Sold
At Asking
527 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Orange County, you may be able to get a good deal. 43.1% of homes here sold below asking price last month.
Summary: A total of 1,319 homes were sold or pending in Orange County in November 2023, down by 16.2% month-over-month. Of the 1,318 sold homes, 43% were sold under asking, 17% were sold at asking, and 40% were sold over asking.
Days on Market for Orange County, CA
How long does it take to sell a home in Orange County, CA?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 34 Days | 24 Days | -28.5% |
Summary: Homes in Orange County had an average of 24 days on market in Nov 2023, down by 28.5% compared to last year.
Breakdown of Home Sale Times
990 Homes Were Sold
Under 30 Days
272 Homes Were Sold
In 30 - 90 Days
57 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Orange County are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 1319 homes were sold in Orange County; 75% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.