August Orange County Real Estate Stats and Trends

Mission Viejo Real Estate Market

Home Prices

Resale Homes +15.8%, Resale Condos +18.2% and New Home Sales +9.0%
Median OC home price is $900,000 up versus one year ago
$1,000,000 plus homes represent 50.5% of all OC listings

Sales Volumes

Resale Homes +2.8%, Resale Condos +7.8% and New Home Sales +8.2%
Home sales volume is 3,708 up versus one year ago
Inventory is at 2,289 down from one month ago
OC Average days on market: 27 days (Crazy Sellers-Market)

Market Trends

% of OC homes selling at $100k over asking price, 6% (1/2021-9/2021) Last year 1%
% of LA homes selling at $100k over asking price, 10% (1/2021-9/2021) Last year 2%
16.1% of all US home purchases were from investors/institutional buyers, up from 8.4% in 2011
Only 23% of Californian’s can afford to buy a house, down from 35% vs last year (August 2021)
Only 50% nationally can afford to buy a house, down from 59% vs last year
OC home prices are rising $14.73 an hour or $135,000 a year (June 2021)
31 of the 83 Orange County Zip Codes now have a median home price of over $1,000,000

California County Home Pricing Trends

SoCal median home price is $680,000 +13.9% vs last year
OC median home price is $900,000 +12.5% vs last year
LA median home price is $785,000 +13.4% vs last year
Ventura median home price is $740,250 +14.8% vs last year
San Diego median home price is $725,000 +13.3% vs last year
Riverside median home price is $525,000 +19.3% vs last year
San Bernardino median home price is $465,000 +22.4% vs last year

Are you considering a move in the future? Have questions? I am here to help you as you consider your options. Would love to be a part of your “team”!