Orange Country prices just increased for the fourth straight month.

The median sales price increased $17,500 from December to January to a record price of $950,000. Over the past 12 months, that’s an increase of $163,000 and 20.7% higher.

The median price per square foot also grew $19 to $571 price per square foot. Since January 2021, It is also up to $112.

The number of homes for sale increased and inventory months supply rose to 0.8 months. Remember 5-6 months is a balanced market and 6+ is a buyer’s market.

All in all, the Orange County real estate market is as competitive as it gets for buyers. However, as interest rates increase, it’ll be interesting to see if buyer demand waivers or if home appreciation starts to slow down finally.

*percentages are comparisons year-over-year 

For more details and charts, click:https://theluevanosgroup.com/market-trends