Is Orange County, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Orange County is a seller's market

Buyer's
Market

Difference Since September 2023

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

$1,138,677

$654/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$145,781(+14.7%)

Key Takeaway

Homes in Orange County have sold for 14.7% more than they did a year ago.

Summary: The median home sold price in Orange County was $1,138,677 in September 2024, up 14.7% from last year, and the median price per square foot was $654.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $425.2K$459K
+7.9%
2 $645.5K$696.5K
+7.9%
3 $939.9K$1.0M
+14.3%
4 $1.3M$1.4M
+11.6%
5+ $1.7M$1.9M
+11.1%

Summary: Orange County housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.9%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 11.1%.

Median Sold Price Compared To Nearby Counties

Orange County
+14.7%
San Diego County
+7.9%
Los Angeles County
+6.1%
Riverside County
+5.8%
San Bernardino County
+5.4%

Housing Supply in Orange County, CA

How many homes are available in Orange County, CA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
6,8716,756-1.7%

Summary: The Orange County real estate market had 6,756 homes for sale in September 2024, a 1.7% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 279283
+1.4%
2 1,4151,391
-1.7%
3 2,2332,180
-2.4%
4 1,9581,905
-2.7%
5+ 986997
+1.1%

Summary: The Orange County housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.4%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 1.1%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1,8011,513-16.0%

Asking Price vs. Sold Price

663 Homes Were Sold
Under Asking

262 Homes Were Sold
At Asking

588 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Orange County, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.

Summary: A total of 1,513 homes were sold or pending in Orange County in September 2024, down by 16.0% month-over-month. Of the 1,513 sold homes, 44% were sold under asking, 17% were sold at asking, and 39% 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

Sep 2023Sep 2024CHANGE
24 Days26 Days+10.9%

Summary: Homes in Orange County had an average of 26 days on market in Sep 2024, up by 10.9% compared to last year.

Breakdown of Home Sale Times

1,060 Homes Were Sold
Under 30 Days

367 Homes Were Sold
In 30 - 90 Days

86 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Orange County are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 1513 homes were sold in Orange County; 70% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 9 Days Ago

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