Orange County, CA Housing Market: House Prices & Trends

Table Of Content

• Review Your Home’s Tax History and Sales Prices
• Can I create an Owner Estimate for a home that is on the market?
• Property details for 7800 Mclaren Ave
• Housing Market Predictions 2023: A Post-Pandemic Sales Slump Will Push Home Prices Down For the First Time in a Decade
• Search with Redfin.Buy with a Redfin agent.
• Nearby recently sold homes
• How Much Is My Home Worth?

Terry Castleman is a data reporter on the Fast Break Desk covering breaking news. In 2020, he was named alongside his colleagues as a Pulitzer Prize finalist in explanatory reporting. Previously, he worked at the New York Times and volunteered as a first responder for refugees arriving on the shores of Lesvos. Residents from nearby towns once came to Trona for shopping and essentials, but now the tables have turned, Epperly said. Developers built fewer homes in California in 2023, potentially leading to higher prices and rents as a supply shortage worsens. Some of the state’s lowest median home values — as low as $114,000 —are located near the Oregon border, in the towns of Dorris, Macdoel and Tulelake.

Review Your Home’s Tax History and Sales Prices

Using MLS information, user-submitted data, and market trends, Zillow’s proprietary algorithm generates the Zestimate. When you're ready for a professional home-value assessment, a Redfin real estate agent can evaluate your home in person and give you pricing recommendations based on its unique characteristics. Talk to a Redfin Agent who specializes in your area for a free consultation. We use MLS® data on recently sold homes in your area to calculate your property's current market value. The Owner Estimate will remain on your home’s page for one year or until you create a new estimate. The real estate market is always changing and we don’t want your estimate to become outdated.

Can I create an Owner Estimate for a home that is on the market?

Banks and other lenders will typically require a formal appraisal before issuing a mortgage. For more on Redfin economists’ takes on the housing market, including how current financial events are impacting mortgage rates, please visit Redfin’s “From Our Economists” page. South of the boulevard, sophisticated midcentury modern single story 4-bedroom 3-bathroom home, has been extensively reimagined and has an exquisite view. This home welcomes you to enjoy the inviting living room with hardwood floors, warming fireplace, recessed lighting and doors of glass creating a great flow of indoor & outdoor living.

Housing Market Update: Mortgage Rates and Housing Payments Drop to Lowest Level Since Spring - Redfin News

Housing Market Update: Mortgage Rates and Housing Payments Drop to Lowest Level Since Spring.

Posted: Thu, 14 Dec 2023 08:00:00 GMT [source]

Property details for 7800 Mclaren Ave

The kitchen is appointed with newer cabinets, quartz counters, stainless steel Bosch oven/stove, refrigerator and dishwasher. It has a large center island with a seating area for those easy conversations and opens to the casual dining area. The other 3 bedroom are very considerable in size and share one full bath and one ¾ bath. The direction and pace at which home prices are changing are indicators of the strength of the housing market and whether homes are becoming more or less affordable. The Owner Estimate gives homeowners more control over determining what their home is worth. The Owner Estimate combines the best of both human insight and machine learning.

California Housing Demand

Demand is holding up fairly well in the face of 7%-plus rates, though some indicators are starting to show a slowdown. Most homes have some risk of natural disasters, and may be impacted by climate change due to rising temperatures and sea levels. If you're planning to sell, the Redfin Estimate can give you an idea how much you'll get for your home. If you're house hunting, the Estimate can predict the final sale price for listings you're interested in. Check out the Redfin Estimate for homes in Atlanta, Austin, Raleigh, Rhode Island, or one of our other 80+ markets across the U.S. If you're thinking about selling your home, a local Redfin agent can give you the best estimate of how much you'll put in your pocket after the sale.

Housing Market Predictions 2023: A Post-Pandemic Sales Slump Will Push Home Prices Down For the First Time in a Decade

For the last 30 years, Ann Epperly has lived in Trona, one of only nine California cities, towns and unincorporated areas tracked by Zillow with median home values under $150,000 in February 2024. Regular lawn maintenance, including mowing, fertilizing, and aerating, is essential for cultivating a lush green lawn that enhances curb appeal. Well-manicured lawns create a visually pleasing backdrop for the property and contribute to a positive first impression, making this spring the perfect time to get your grass looking spectacular. Investing in professional lawn care services ensures optimal turf health and adds value to the overall landscaping package. Strategic tree planting not only enhances the aesthetic of the property but also provides practical benefits. Mature trees offer shade, which can reduce energy costs and increase comfort during hot summer months.

Search with Redfin.Buy with a Redfin agent.

Redfin only offers estimates for homes in areas where similar properties have sold within the past year. To calculate the Redfin Estimate, we combine hundreds of data points about the market, the neighborhood, and the home itself—all to provide you with the most accurate home-valuation tools. Use Redfin's home value estimator to get a free, instant home-value estimate, see nearby sales and market trends, and update your home facts and photos.

Nearby recently sold homes

The pristine kitchen has been beautifully renovated and ideally situated off the spacious backyard terrace with outdoor dining and gourmet BBQ station. A rejuvenating hot tub, ambient outdoor lighting and meticulous manicured grounds elevate this entertainment haven. Encircling the exterior is a redwood fence, enhancing the allure of the outdoor sanctuary. Ascend upstairs to discover the lavish primary bedroom suite with a spa-like bathroom featuring a dual sink vanity, oversized shower with skylight and soaking tub. A private deck, walls of custom design closets and a serene office (converted 3rd bedroom) completes the upper level. A guest bedroom encompasses the lower level with the convenience of a separate entrance.

Persistently high home prices are exacerbating affordability challenges for buyers. The Redfin Estimate is a calculation of how much an individual home is worth on the open housing market. According to Redfin, the tool is highly accurate, with a median error rate of 2.28% for on-market homes as of April 6, 2022. (Ask us how to get an additional 10K!) Coming Summer 2024, Nelavida is Glassell Park's hottest new single family small lot address, the perfect marriage of SoCal sensibility and boho-luxe living.

Additionally, trees contribute to improved air quality and curb appeal, making them a valuable asset that adds to the property’s appeal and value. Once you’ve been verified as the owner, you can update the home’s square footage and the number of bedrooms and bathrooms. If you’ve recently completed renovations, such as redoing the kitchen or bathrooms, you can indicate that. You can also note any special features, such as a pool, finished basement, accessibility additions, or waterfront location. With either the Redfin Estimate or the Zillow Zestimate, the estimated value of any given home is only as accurate as the available data. If your home has additions or renovations that don’t show up in the data, then its estimated value will not reflect those changes.

This may differ slightly from the Redfin Estimate displayed in the Home Report email, which shows a point-in-time value for a given day rather than a monthly average. The Redfin Estimate is updated daily for homes that are for sale, and weekly for those that are off the market. Stay up to date on market changes and find out how much homes like yours have sold in the past year. Located less than four hours from Las Vegas and an hour from Death Valley, Trona offers a desert lifestyle with home prices that can’t be beat in California.

Each town is home to less than 1,000 people and set amid agricultural fields. These affordable communities are far-flung and a long drive from the bustle of the city. But locals say the bargain prices and charms make the trade-offs worth it. Errors do happen, so your value also may be low because of outdated or incorrect information about its previous sales prices or tax history.

A high or growing percentage of homes selling above list price indicates that the housing market is competitive and bidding wars are becoming more common. A low or shrinking percentage of homes selling above list price suggests that the market is becoming less competitive. For more of Redfin economists’ takes on the housing market, including how current financial events are impacting mortgage rates, please visit Redfin’s “From Our Economists” page. Adding a deck to your property creates a versatile outdoor living area that appeals to potential buyers.

The tool provides a selection of 25 homes that have recently sold nearby. From that selection, you can select five or more homes that are most similar to your own. Then, the same core machine learning model that powers the Redfin Estimate identifies 25 recently sold homes that are similar to yours based on size, location, and other home facts.

Thoughtfully designed lighting highlights the beauty of the landscape and adds curb appeal. Both companies claim they are highly accurate, with a median error rate of 2.28% for on-market homes for Redfin and a 1.9% error rate for Zillow as of this writing. Online home valuation estimator tools like the Redfin Estimate and the Zillow Zestimate can be useful for buyers and sellers alike, and both claim to be highly accurate. If you find inaccurate information about your home, you can correct it yourself or submit documentation to the companies so they can update your listing.