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.
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
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
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
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.