Anaheim Property Trends: Slow but Steady Uptick in Home Values – Mar 2024

Market report for Anaheim, CA, Mar 2024. The local real estate market is trending with a gentle uptick in property values over recent months. With the average sale price climbing from $815,000 in the span of the last year to $830,000 in the past six months, the data indicates an encouraging growth trajectory for homeowners and investors alike.

Average Property Value Insights

A closer look at Anaheim’s average value per square foot shows that properties currently on the market are valued at an average of $538 per square foot, which is a tad below the whole market’s average of $548. This subtle difference could be reflective of an array of factors, from the specific mix of properties available to slight shifts in demand.

Foreclosed properties carry an average sale price of $835,250, which skews higher than the MLS properties sold. This counters the typical expectation that foreclosed homes are a bastion for bargains. Instead, it implies that these properties may not be significantly undervalued, or perhaps they are somewhat exceptional in characteristics or location relative to the standard market offerings.

Pre-foreclosure in Anaheim homes follow a similar trend, presenting an average value of $832,750 and an average value per square foot of $561 — a figure surpassing that of the active market. Such metrics suggest that these homes might be tipping the scales in terms of better maintenance or more sought-after locales.

On the auction block, properties hover close to the broader market trends with an average value of $827,875 and an average value per square foot of $547—a near mirror to active market listings.

In contrast, bank-owned properties defy the norms with a heftier average price tag of $1,164,000 and an average of $536 per square foot, hinting that these repossessed estates might be of a more upscale variety or sizeable nature.

Property Status Market Temperature

Properties up for grabs align have an average asking price of $888,375, matched with the familiar $538 per square foot. This alignment might suggest consistency and stability within the market.

The properties that have recently exchanged hands tell a somewhat different story. Their average sale price settled at $857,250, overtaking the number seen in the broader active market. This burgeoning number could be a sign of an upward push on market valuations, a trend that sellers and prospective buyers should be mindful of.

Anaheim’s Submarkets

Taking a more magnified view, Anaheim’s zip code 92807 stands out with the highest average list price at $954,500 and the most substantial average sale price at $1,057,750. This indicates an area buzzing with demand and possibly offering a more luxurious housing stock. Conversely, the zip code 92801 presents the lowest average list price at $575,000, possibly pointing towards more accessible real estate or a lesser competitive market scene.

Neighboring cities provide a context for understanding Anaheim’s standing. Fullerton and Garden Grove flash higher average values and price per square foot, suggesting these areas might possess elements of affluence or a heightened market demand.

In summary, Anaheim’s real estate market is marked by a slow but steady rise in property values, with recently sold properties pushing the bar higher. The foreclosure segment does not lag too far behind in valuations, indicating a market less characterized by deep discounts and more by stability. Submarket differences underscore the varying appeal and property types across zip codes, while comparisons with nearby cities open up a broader perspective on regional market dynamics.