Is Costa Mesa, 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, Costa Mesa has remained a Seller's Market.
Housing Prices in Costa Mesa, CA
How much do homes in Costa Mesa, CA cost?
Median Sold Price
$1,315,000
$752/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Costa Mesa was $1,315,000 in May 2024, up 12.5% from last year, and the median price per square foot was $752.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $517.5K | $1.0M | +93.8% |
2 Bedrooms | $740K | $820K | +10.8% |
3 Bedrooms | $1.1M | $1.2M | +9.0% |
4 Bedrooms | $1.3M | $1.4M | +11.0% |
5+ Bedrooms | $1.5M | $1.9M | +30.7% |
Summary: Costa Mesa housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 93.8%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 30.7%.
Median Sold Price Compared To Nearby Cities
Central Coast | $1.6M | $1.8M | +16.8% |
Santa Ana | $725.5K | $830.2K | +14.4% |
Irvine | $1.2M | $1.4M | +14.2% |
Newport Beach | $3.0M | $3.4M | +13.9% |
Costa Mesa | $1.1M | $1.3M | +12.5% |
Housing Supply in Costa Mesa, CA
How many homes are available in Costa Mesa, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
153 | 159 | +3.9% |
Summary: The Costa Mesa real estate market had 159 homes for sale in May 2024, a 3.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 16 | 20 | +25.0% |
3 Bedrooms | 84 | 84 | 0.0% |
4 Bedrooms | 37 | 37 | 0.0% |
5+ Bedrooms | 16 | 18 | +12.5% |
Summary: The Costa Mesa 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 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
48 | 54 | +12.5% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Summary: A total of 54 homes were sold or pending in Costa Mesa in May 2024, up by 12.5% month-over-month. Of the 54 sold homes, 30% were sold under asking, 20% were sold at asking, and 50% were sold over asking.
Days on Market for Costa Mesa, CA
How long does it take to sell a home in Costa Mesa, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 14 Days | -46.8% |
Summary: Homes in Costa Mesa had an average of 14 days on market in May 2024, down by 46.8% compared to last year.
Breakdown of Home Sale Times
46 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, 54 homes were sold in Costa Mesa; 85% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.