Orange County Real Estate Market Update - June 2024

June 2024 brought an array of notable changes to the real estate market in Orange County, a region famed for its luxurious properties and high quality of life. From upscale coastal homes to exclusive suburban neighborhoods, Orange County offers a diverse real estate landscape that continues to attract buyers and investors alike.

New Listings

In June 2024, Orange County saw 2,145 new listings enter the market. This influx of new properties provides potential buyers with fresh opportunities to find their dream home or make a lucrative investment. The variety of new listings ensures that there are options available to suit different tastes and budgets.

Active Listings

With 4,050 active listings, Orange County maintained a robust inventory level, offering a wide range of choices for prospective buyers. This extensive inventory ensures that buyers have ample options to explore, whether they are looking for a chic urban condo or a sprawling estate.

Pending and Closed Sales

During the month, there were 1,027 pending sales, indicating steady buyer interest and market activity. Additionally, 1,782 closed sales were recorded, showcasing the market's ability to efficiently transition interested buyers into homeowners.

Closed Transaction Volume

The total closed transaction volume for June reached a staggering $5,303,950,596. This impressive figure highlights the significant economic activity within the Orange County real estate market, underscoring its appeal as a hotbed for both residential and investment properties.

Average Days on Market

Properties in Orange County spent an average of just 20 days on the market before being sold. This quick turnover rate reflects high demand and a competitive market environment where homes are quickly snapped up by eager buyers.

Median Sales Price

In June 2024, the median sales price in Orange County rose to $1,200,000, marking a notable increase in property values. This median price point serves as a key indicator of the market's health and attractiveness, appealing to buyers looking for premium properties in an upscale region.

In summary, the real estate market in Orange County during June 2024 demonstrated strong performance across key metrics. With a substantial number of new and active listings, steady pending and closed sales figures, significant transaction volume, a swift time on the market, and a rising median sales price, Orange County continues to present a vibrant and appealing real estate landscape.

For those looking to enter the Orange County real estate market, staying informed about these trends and consulting with local experts can provide valuable insights and guidance for navigating this dynamic and competitive market.