Many media channels are still reporting that Orange County home values are down but the statistics reveal a resilient market. Looking at the median sales price over the past 30 days, we see a figure of $1,225,000. Moreover, the most recent seven-day period saw a further increase to $1,261,000. Although these figures remain below the peak of $1,300,000 reached in April 2023, it's important to note that home values have consistently been on the rise throughout the year.

While it's true that values have dipped from their peak, this year has witnessed a steady upward trajectory in home values. This positive momentum speaks volumes about the stability and potential of the Orange County housing market.

Inventory has increased in Orange County from the previous week. We had an increase in the amount of new residential listings. For buyers, the increase in housing inventory represents a welcome opportunity to explore a wider range of options. The availability of more properties allows for a more balanced market, potentially easing some of the challenges faced by prospective buyers in recent times.

Sellers, on the other hand, can take heart in the consistent upward movement of home values this year. While values may have cooled slightly from their peak, the overall trend suggests that the market remains favorable for sellers. This offers an encouraging environment for those looking to sell their homes and maximize their investment.

In addition to the positive indicators we discussed earlier, this week's market report for Orange County reveals some key statistics that shed further light on the current state of the housing market.

One significant aspect of the Orange County housing market is the remarkably low number of days properties are spending on the market. This trend holds true across all price ranges, indicating strong demand and swift transactions. The low days on market underscore the desirability of the region and the high level of buyer interest in securing properties promptly.

Over the past week, homes in Orange County sold for approximately 0.17% less than their listed price.

The median list price for single-family homes in Orange County, currently stands at $1,700,000.

We believe that staying informed about real estate data is crucial when making decisions about buying or selling property. That's why we provide weekly updates on the latest data. To make this information easily accessible, we've created a dedicated webpage for real estate data in every city in Orange County, and we're working on specific areas too. Check out our market report page for more information.

https://www.ocrealestateinc.com/orange-county-real-estate-market-reports-by-city/