# Setting the Right Price: How Orange County Sellers Can Make Their Move
Selling your home in Orange County can open doors to new opportunities. Whether it's downsizing, moving closer to family, or taking that dream vacation, the current market presents a chance to make your goals a reality. But with home prices rising and many selling above the asking price, how should you set your price?
Let's take a look at what's happening in the Orange County real estate market and how sellers can use this information to their advantage.
## Problem: Facing a Seller's Market in Orange County
Orange County's housing market is a seller's market. This means demand is high, and homes are selling quickly and often above the asking price. Here are some key points:
- Median Sold Price: The median home price as of February 2025 is $1,173,123, which is an 11.8% increase from last year.
- Fast Sales: Homes sell in about 34 days on average, and 65% of them sell within 30 days.
- Over Asking Price: 39% of homes are selling for more than the asking price.
In this market, setting the right price is crucial. Set it too high, and your home may sit unsold. Set it too low, and you might leave money on the table.
## Agitate: Why Not Getting the Price Right Could Cost You
For sellers wanting to make the most of their home sale, understanding these trends is important. Here's why:
- Competition Among Sellers: Even though it's a seller's market, competition is growing. Homes for sale have increased by 9.2% from January 2025, and this trend could continue.
- Price Increases by Bedroom Type: One-bedroom homes have risen to $470,000, while larger homes like those with 5+ bedrooms have reached $2,000,000. Setting a price in line with these increases can make your property more attractive.
- Predicting Market Activity: With fast sales and a significant number selling over the asking price, sellers might expect their home to sell quickly. However, 46% of homes still sell below the asking price, illustrating the need for accurate pricing.
If you set your price too high hoping for a bidding war, you may not get the offers you expect. On the other hand, pricing too low could mean missing out on the true value of your home in this strong market.
## Solution: How to Set the Right Price
Getting the price right involves understanding the market and using a strategic approach. Here’s how sellers can position their home for success:
### Understand the Local Market
Look closely at what's happening in Orange County's different areas, such as Newport Beach, Irvine, and Laguna Beach. Prices and demand can vary, so it is important to have a real understanding of your specific neighborhood's trends.
### Work with a Real Estate Expert
Engaging a local real estate agent with experience in Orange County can be beneficial. Professionals can provide insights into:
- Recent Comparable Sales: Knowing what similar homes have sold for can help set a competitive price.
- Market Timing: Understanding when to list your home for the best offers.
- Negotiation Strategies: How to handle multiple offers if your home is in high demand.
### Consider Market Trends
The information from February 2025 shows a strong seller's market, but keep an eye on trends:
- Growing Inventory: Inventory was up by 9.2% from January 2025. If this continues, more choices for buyers might impact how long homes sit on the market.
- Days on Market: While selling fast, the average days on the market have increased by 17.1% since last year. Understanding what this means for your area can guide pricing.
### Price Strategically
Pricing just below market value can attract more buyers, leading to potential bidding wars. This approach could help achieve a final selling price over the initial asking price.
### Stay Flexible
Be prepared to adjust your price if necessary. The market can change rapidly, and being flexible can keep your home attractive to buyers.
## Conclusion: Making Your Move
Selling a home in Orange County offers a chance to pursue new opportunities. But with a market that's dynamic and competitive, setting the right price is crucial.
By understanding local trends, working with knowledgeable professionals, and staying flexible, sellers can position their properties to attract the right buyers and achieve successful sales. So, whether it's embarking on a new adventure or investing in your future, selling your Orange County home can be the key to making it happen. Embrace this opportunity and plan your next steps wisely.
