A Look Back: Orange County Real Estate Market Update - December 2023

As we step into the new year, it's essential to reflect on the recent trends in our dynamic real estate market. The Orange County real estate market ended 2023 on a high note, with robust activity across various key indicators. Let's dive into the specifics.

New Listings

Orange County saw a surge of new listings in December 2023, with 650 properties hitting the market. This influx of new options is a positive sign for prospective buyers seeking to find their dream homes in this desirable location.

Active Listings

The active listings for the month stood at 1981, reflecting the healthy inventory levels that present diverse choices for different buyer needs. From luxurious beachfront properties to cozy suburban homes, Orange County continues to offer a wide range of options.

Pending and Closed Sales

In terms of sales activity, there were 566 pending sales, indicating strong buyer interest and a competitive market environment. The number of closed sales was even more impressive, reaching a total of 961. These figures emphasize that despite the challenges posed by the global situation, the Orange County real estate market remains resilient and thriving.

Total Sales Dollar Volume

The total sales dollar volume for the month was a staggering $2,370,164,520. This figure underscores the significant value exchanged in the Orange County real estate market, further solidifying its reputation as a premier investment destination.

Average Days on Market

The average days on the market for properties in December 2023 was 31. This relatively brief period reflects the high demand for properties in Orange County and the swift pace at which transactions are being completed.

Median Sales Price

Finally, the median sales price for properties in December 2023 was $960,000. This figure suggests a balanced market, with half of the properties selling for more than the median price and the other half selling for less. This balance implies a healthy mix of affordable and high-end properties, catering to a broad range of buyer budgets.

In conclusion, the Orange County real estate market exhibited robust performance in December 2023, characterized by strong sales activity, substantial dollar volume, and a balanced median sales price. These trends underline Orange County's enduring appeal as a vibrant and dynamic real estate market.

Please note that these statistics are based on the data available at the time of writing this blog and may be subject to change. For more detailed and up-to-date information, it is always recommended to consult with a local real estate professional.