Is Orange County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$1,080,090
$626/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Orange County have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in Orange County was $1,080,090 in April 2024, up 11.2% from last year, and the median price per square foot was $626.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $430K | $444.7K | +3.4% |
| 2 Bedrooms | $638.6K | $679.1K | +6.3% |
| 3 Bedrooms | $925K | $1.0M | +9.9% |
| 4 Bedrooms | $1.2M | $1.3M | +8.8% |
| 5+ Bedrooms | $1.8M | $1.9M | +5.4% |
Summary: Orange County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Counties
| Orange County | $971.2K | $1.0M | +11.2% |
| San Diego County | $815.1K | $869.4K | +6.7% |
| Los Angeles County | $850K | $876.8K | +3.2% |
| Riverside County | $576.1K | $594.1K | +3.1% |
| San Bernardino County | $497K | $505.7K | +1.7% |
Housing Supply in Orange County, CA
How many homes are available in Orange County, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5,783 | 5,919 | +2.4% |
Summary: The Orange County real estate market had 5,919 homes for sale in April 2024, a 2.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 250 | 264 | +5.6% |
| 2 Bedrooms | 1,262 | 1,251 | -0.9% |
| 3 Bedrooms | 1,854 | 1,906 | +2.8% |
| 4 Bedrooms | 1,572 | 1,611 | +2.5% |
| 5+ Bedrooms | 845 | 887 | +5.0% |
Summary: The Orange County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.6%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,723 | 1,847 | +7.2% |
Asking Price vs. Sold Price
581 Homes Were Sold
Under Asking
333 Homes Were Sold
At Asking
930 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Orange County, you could pay more than the asking price. 50.4% of homes here sold above asking price last month.
Summary: A total of 1,847 homes were sold or pending in Orange County in April 2024, up by 7.2% month-over-month. Of the 1,844 sold homes, 32% were sold under asking, 18% were sold at asking, and 50% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 31 Days | 23 Days | -27.6% |
Summary: Homes in Orange County had an average of 23 days on market in Apr 2024, down by 27.6% compared to last year.
Breakdown of Home Sale Times
1,466 Homes Were Sold
Under 30 Days
269 Homes Were Sold
In 30 - 90 Days
112 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 April 2024, 1847 homes were sold in Orange County; 79% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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