News Summary
Orange County’s real estate market shows mixed trends with median sales prices increasing in 66% of local zip codes. The median sales price across the county is $1.21 million, with Newport Beach leading at $6.23 million. Despite 55 zip codes experiencing price rises, overall home sales are slightly down by 1% from last year. The multifamily rental market remains strong with low vacancy rates and significant rental growth in specific areas. Experts suggest a potential shift in buyer activity due to declining mortgage rates.
Orange County is experiencing mixed trends in its real estate market, with a notable increase in median sales prices across the county and varying patterns across different zip codes. According to the latest data from Attom, the median sales price rose in 66% of local ZIP codes over the past year, highlighting a shift in property values for many neighborhoods.
In June 2025, property prices showed an uptick in 55 out of 83 local ZIP codes, while 28 areas saw declines. The most expensive neighborhood was Newport Beach (ZIP code 92661), where the median selling price reached a staggering $6.23 million. Conversely, Laguna Woods (ZIP code 92637) represented the lower end of the market with a median price of just $445,000.
Overall, home sales in Orange County exhibited a slight contraction. Sales volume rose in 45 ZIP codes, dropped in 37, and one ZIP code reported no change. The breakout in sales activity showed that 2,125 homes were sold so far this year, marking a decline of 1% compared to the previous year. Notably, the ZIP code with the highest sales activity was Laguna Niguel (92677), which recorded 72 sales.
The median sales price for the entire county stood at $1.21 million, representing a modest increase of 1% from the prior year. A comprehensive look at all ZIP codes revealed three distinct segments in the market: the priciest segment, with a median price of $2.13 million, saw a 14% increase in sales; middle-tier properties had a median price of $1.25 million, up 2%; while the most affordable segment reached a median price of $881,000, up 4%.
The multifamily rental market also showcased robust dynamics. Fairgrove Property Management in Irvine has expanded its reach by acquiring Constellation Realty in San Diego, adding 2,400 units to its portfolio. With this acquisition, Fairgrove now manages near 10,000 units across five Southern California counties: Los Angeles, Orange, Riverside, San Bernardino, and San Diego. The company’s properties are concentrated in cities including Anaheim, Buena Park, Costa Mesa, Fullerton, Garden Grove, and Santa Ana.
As of the end of Q2 2025, Orange County’s multifamily vacancy rate was reported at 3.8%, the lowest among the 14 markets studied by Kidder Mathews. The average monthly rent for multifamily units in the area is $2,906. Newport Beach recorded the highest year-over-year growth in rents at approximately 5%. Other cities with significant rental growth included Santa Ana, South Irvine, East Anaheim/Orange, and Costa Mesa.
New apartment developments are also in the pipeline, contributing to the ongoing changes in the market. Among these projects are the 321-unit Cloud House in Stanton, the 876-unit Trilogy in Irvine set to complete in Q3, the 350-unit Newport Crossings in Newport Beach expected to wrap up by Q2 2026, and the 371-unit Pistoia in Irvine, scheduled for Q1 2026 completion.
Comparing the broader real estate landscape in California, overall home sales recorded slight decreases, with existing single-family home sales dropping to a rate of 261,820 in July. This reflects a 1% decline month-over-month and a 4.1% decrease year-over-year. In Orange County, however, home sales rose by 6.9% in July compared to June but marked a 1% drop from July 2024. The median home price in July was reported at $1.40 million, a decline from June’s price of $1.47 million but an increase from July 2024’s median of $1.39 million.
Regionally, California’s median home price was recorded at $884,050 in July, a decrease from June and the previous year. San Mateo County led the state with the highest median price of $2.1 million, while Trinity County recorded the lowest at $240,500.
As the market evolves, experts noted a modest slowdown in home sales and prices. This may largely be attributed to potential buyers adopting a wait-and-see approach for market stabilization. However, the recent declines in mortgage rates could lead to a resurgence in homebuyer activity in the upcoming months, potentially shifting the trends seen so far.
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Additional Resources
- Orange County Business Journal: Fairgrove Property Management Buys in San Diego
- Wikipedia: Real Estate
- OC Register: Commercial Real Estate Reflects Ebbs and Flows of Business Confidence
- Google Search: California real estate market
- Desert Sun: Three California Housing Markets Rank Among the Best in the U.S.
- Encyclopedia Britannica: Real Estate
- US News: Los Angeles and Orange County Housing Market Forecast
- Google News: Orange County housing market
Author: STAFF HERE COSTA MESA WRITER
COSTA MESA STAFF WRITER The COSTA MESA STAFF WRITER represents the experienced team at HERECostaMesa.com, your go-to source for actionable local news and information in Costa Mesa, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the OC Fair, Concerts in the Park, and Fish Fry. Our coverage extends to key organizations like the Costa Mesa Chamber of Commerce and Boys & Girls Clubs of Central Orange Coast, plus leading businesses in retail, fashion, and technology that power the local economy such as Vans, Experian, and South Coast Plaza. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HEREMissionViejo.com, HERESanDiego.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
