For years, Orange County real estate has been a seller’s market—especially in sought-after luxury areas like Newport Beach, Laguna Beach, and Irvine.
Buyers had to act fast, paying above list prices and often competing with multiple offers. Homes would sell within days, leaving buyers scrambling for their next opportunity. But now, the question on everyone’s mind is: Has the market shifted to a buyer’s market?
What Defines a Buyer’s Market?
Simply put, a buyer’s market happens when there are more homes for sale than there are buyers. This imbalance gives buyers the upper hand, as they have more negotiating power. On the flip side, a seller’s market occurs when demand outpaces supply, giving sellers the advantage. So, where does Orange County stand today?
Orange County’s Real Estate Landscape Shift: A Closer Look
Currently, there are around 5,200 homes for sale in Orange County—an increase from recent years. But it’s still lower than pre-pandemic, when homes for sale often numbered between 7,000 to 8,000. Despite this uptick, high-end properties in Newport Coast, Costa Mesa, and San Clemente are still in high demand. Buyers remain active, but with more inventory, we’re seeing a shift toward a buyer’s market. If mortgage rates dip, expect demand to surge, particularly from local buyers and international investors drawn to luxury real estate in these coastal communities.
Key Market Insights for Orange County Real Estate
Here’s what the numbers are showing us:
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Average days on market: 58 days
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Median days on market: 39 days
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Homes under $1 million: 33 days
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Homes between $1-$2 million: 33 days
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Homes over $2 million: 54 days
In luxury real estate areas like Newport Beach and Laguna Beach, properties tend to sell faster, especially those priced under $2 million. However, as inventory grows, we’re seeing homes stay on the market longer, which indicates more room for negotiations.
Foreclosures: A Non-Issue in Orange County
In Orange County, foreclosures are not significantly affecting the market right now. The vast majority of homes, even in luxury enclaves like Newport Coast and Irvine, are still being sold through traditional listings, ensuring market stability for both local buyers and those from out of state or overseas.
How Does Orange County Compare to Other Luxury Markets?
While some U.S. cities like Miami and Cape Coral are experiencing stronger buyer’s markets, Orange County’s luxury real estate market remains resilient. Areas like Newport Beach and Laguna Beach continue to attract national and international buyers who are looking for the unparalleled coastal lifestyle and high-end properties.
Tips for Buyers: Find Your Dream Home in Orange County
If you’re considering a move to Orange County, this is the perfect time to explore your options in neighborhoods like Newport Coast, Irvine, and Dana Point. With more luxury estates available, buyers have greater flexibility and room to negotiate. Whether you’re a local buyer looking to upgrade, or an international investor seeking an oceanfront paradise, we’ve got you covered.
Share your ideal home details, and we’ll create a personalized strategy to help you find the perfect match. From homes under $1 million to multi-million-dollar estates, we’ll help you navigate the market with ease, backed by solid data and expert guidance.
Sellers: Maximize Your Home’s Potential
For those selling luxury estates in Newport Beach, Laguna Beach, or Irvine, it’s crucial to have a solid marketing strategy. While the market may be shifting, homes are still selling, but it may take a bit longer. At Surterre Properties, we specialize in creating maximum exposure for your property through targeted digital marketing, professional photography, and strategic social media campaigns combined with niche, local marketing to make your property stand out to the right buyers.
Final Thoughts: A Market in Transition
Is it officially a buyer’s market in Orange County? By days on market alone: Not yet. By supply vs. demand: We are heading that way. By seller and buyer feelings: It feels like it. Buyers now have more options to explore, especially in luxury real estate markets like Newport Beach and Laguna Beach. Sellers may need to adjust pricing and marketing strategies to stay competitive, but the opportunity is still there for both sides.
Now is a great time to think about your next move in the luxury real estate market. Whether you’re buying a dream home in Newport Coast or selling your property in Irvine, you need a team that understands the nuances of the market and can guide you toward success.
Contact Surterre Properties today at SurterreProperties.com to speak with our expert real estate specialists. We’re here to help you navigate the Orange County real estate market with confidence, whether you’re buying or selling. Let us help you find your next luxury home or get the highest return on your property! You can also explore our other exclusive listings now.
