Orange County Real Estate Market Update - January 2024

As we navigate through the first month of 2024, it's time to take a look at the real estate market trends in Orange County. The area has seen some fascinating dynamics, so let's delve into the specifics.

New Listings

The start of the new year saw a substantial influx of new listings in Orange County, with a total of 1,525 properties hitting the market in January. This surge in new listings reflects the confidence of sellers and offers a broad range of options for potential buyers.

Active Listings

The active listings for the month stood at an impressive 2,253. This figure indicates a healthy inventory level, providing a plethora of options for those looking to invest in the thriving Orange County real estate market.

Pending and Closed Sales

Pending sales for January were recorded at 1,025, a strong figure that showcases the robust demand for properties in the area. Moreover, the number of closed sales was also significant, totaling 915. These figures highlight the dynamic nature of the Orange County real estate market, with a considerable number of transactions being completed.

Closed Transaction Volume

The closed transaction volume for the month was a substantial $2,271,506,384. This remarkable figure underscores the significant value being exchanged in the Orange County real estate market, reflecting the high level of investment activity in the area.

Average Days on Market

The average number of days properties spent on the market in January was 37. This period indicates that properties are selling at a steady pace, reflecting a balanced market that is advantageous for both buyers and sellers.

Median Sales Price

Last but not least, the median sales price for January 2024 was $910,000. This price point suggests a balanced market, with a healthy mix of both luxury and more affordable properties. The median sales price provides a useful benchmark for potential buyers and sellers to understand the overall market conditions.

In conclusion, Orange County's real estate market kicked off 2024 with strong performance across all key indicators. With a high number of new and active listings, robust sales activity, considerable transaction volume, and a balanced median sales price, it continues to prove itself as a dynamic and desirable real estate market.

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