Market Report
ORANGE COUNTY | INSIDER INTEL
Insider Intel.
Each month we explore the regional housing markets of Orange County, from city-by-city sales data to inventory, inflation, mortgage rates, and other economic factors and trends. Real estate is, by nature, local, and our markets may not be entirely reflective of national trends. We hope that this month’s report empowers you with valuable insights to make informed real estate decisions.
September 2024
The Federal Reserve has initiated a rate-cut cycle, with its first cut in the Federal Funds rate creating a ripple effect across the US economy. This may lead to further cuts and potentially bring mortgage rates below 6%. Recently, rates dropped to 6.11%, the lowest since February 2023. Many buyers have delayed their purchases, not realizing that mortgage rates are influenced by 10-year bond activity and the mortgage-backed securities (MBS) market, which have already factored in these changes. As rates continue to decline, buyers will enjoy reduced competition and increased inventory, while sellers can expect heightened interest from motivated buyers. Monitoring economic data will be crucial for understanding the pace of future rate cuts.
Orange County
ORANGE COUNTY
ATTACHED & DETACHED
1,880 UNITS SOLD IN AUGUST 2024
1,982 UNITS SOLD IN AUGUST 2023
$1.16M MEDIAN SALES PRICE
$1.15M MEDIAN LIST PRICE 99% SALES TO LIST PRICE RATIO
$22.9M HIGHEST PRICE
$694 MEDIAN PRICE PER SQUARE FOOT
13 MEDIAN DAYS ON MARKET
$0-$500K
113 Units Sold August 2024
142 Units Sold August 2023
$413K
Median Sales Price
$1.25M-$1.5M
251 Units Sold August 2024
235 Units Sold August 2023
$1.36M
Median Sales Price
$3M-$4M
63 Units
August 2024 63 Units
$3.43M
Median Sales Price
656 Units Sold August 2024 $785K Median Sales Price
309 Units
August 2024
744 Units Sold August 2023
August 2023
248 Units
August 2024 243 Units
August 2023
August 2023 47 Units
176 Units
August 2024
Units
August 2023
August 2024
Units
August 2023
DETACHED HOMES | ORANGE COUNTY
$0-$500K $1.36M
3 Units Sold August 2023
2 Units Sold August 2024 $355K Median Sales Price
Median Sales Price $1.25M-$1.5M $3.44M Median Sales Price $3M-$4M
212 Units
August 2024
292 Units
August 2023
August 2024
208 Units Sold August 2024
200 Units Sold August 2023
208 Units
August 2024
Units
August 2023
August 2024
August 2023 158 Units
August 2023 60 Units
111 Units Sold August 2024
August 2023 $0-$500K
139 Units
256 Units
August 2024
255 Units
August 2023
188 Units
August 2024
197 Units
August 2023
Median Sales Price
Median Sales Price
93 Units
August 2024
78 Units
August 2023
43 Units
August 2024
35 Units
August 2023
Sales Price
63 Units
August 2024
49 Units
August 2023
Sales Price
Sales Price
Sales Price
Information is obtained from the MLS and other sources, deemed reliable but not guaranteed from 9/23-9/24. © 2024 Pacific Sotheby’s International Realty DRE# 01767484. All rights reserved. Sotheby’s International Realty® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used with permission. Pacific Sotheby’s International Realty fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Any services or products provided by independently owned and operated franchisees are not provided by, affiliated with or related to Sotheby’s International Realty Affiliates LLC nor any of its affiliated companies.
