Southern California Home Sellers Market Update – October 15, 2024
The Southern California real estate market is stabilizing, with home prices holding steady but at slower growth rates compared to previous years. Median prices in regions like Orange County remain near $1.1 million, while more affordable areas, such as San Bernardino, see homes listed around $500,000
Higher mortgage rates, currently at 7.6%, have reduced buyer demand, leading to longer listing times. Sellers are still getting solid offers, but competitive pricing and incentives—like rate buy-downs or closing cost assistance—are key to attracting buyers. With more inventory becoming available, patience and flexibility will be essential for sellers navigating today’s market