Is Garden Grove, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Garden Grove has remained a Seller's Market.
Key Takeaway
Garden Grove is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Garden Grove, CA
How much do homes in Garden Grove, CA cost?
Median Sold Price
$887,714
$595/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Garden Grove have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in Garden Grove was $887,714 in May 2024, up 10.3% from last year, and the median price per square foot was $595.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $420K | $435K | +3.6% |
| 2 Bedrooms | $545K | $570K | +4.6% |
| 3 Bedrooms | $801K | $881K | +10.0% |
| 4 Bedrooms | $890K | $970K | +9.0% |
| 5+ Bedrooms | $1.0M | $1.2M | +13.3% |
Summary: Garden Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 13.3%.
Median Sold Price Compared To Nearby Cities
| Westminster | $896K | $1.0M | +14.1% |
| Fountain Valley | $1.0M | $1.2M | +13.9% |
| North Coast | $1.0M | $1.1M | +10.6% |
| Garden Grove | $805K | $887.7K | +10.3% |
| Stanton | $680K | $640K | -5.9% |
Housing Supply in Garden Grove, CA
How many homes are available in Garden Grove, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 149 | 167 | +12.1% |
Summary: The Garden Grove real estate market had 167 homes for sale in May 2024, a 12.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 18 | 21 | +16.7% |
| 3 Bedrooms | 69 | 75 | +8.7% |
| 4 Bedrooms | 41 | 47 | +14.6% |
| 5+ Bedrooms | 18 | 21 | +16.7% |
Summary: The Garden Grove housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 57 | +29.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
41 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Garden Grove, you could pay more than the asking price. 71.9% of homes here sold above asking price last month.
Summary: A total of 57 homes were sold or pending in Garden Grove in May 2024, up by 29.5% month-over-month. Of the 57 sold homes, 18% were sold under asking, 11% were sold at asking, and 72% were sold over asking.
Days on Market for Garden Grove, CA
How long does it take to sell a home in Garden Grove, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 15 Days | -45.7% |
Summary: Homes in Garden Grove had an average of 15 days on market in May 2024, down by 45.7% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Garden Grove are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 57 homes were sold in Garden Grove; 86% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.