This article examines the Fullerton housing market, shedding light on the critical aspects that shape its current state. Focusing on median home prices, inventory levels, and key economic indicators offers insight into Fullerton’s position within the larger Orange County real estate landscape. Detailing the prevailing trends and market dynamics serves as an essential guide for those interested in understanding the nuances of Fullerton’s housing sector and its implications for potential buyers.
Table of Contents
Fullerton Housing Market Data
1. Median Home Price
This section analyzes Fullerton, California’s housing market by detailing current home prices and breaking them down by property type. It outlines the general trend of higher pricing for single-family homes compared to townhouses and condos. Additionally, it compares Fullerton’s home prices with those in other Orange County cities, allowing for a broader understanding of its market position. The data will equip prospective buyers with valuable insights for making informed purchasing decisions in Fullerton.
- Current Sales Prices of Fullerton Homes
The data provided shows the median sales prices for various types of properties in Fullerton. Overall, the median home sales price stands at $900,000. Breaking it down by property type, single-family homes have the highest median price at $1,050,000. Townhouses come next with a median price of $770,000, while condominiums are the most affordable, with a median sales price of $567,000. This range of prices suggests Fullerton has a mix of property types to fit different budget levels in the housing market.
| Property Type | Fullerton Median Home Sales Price |
| All Properties | $900,000 |
| – Single-Family Home | $1,050,000 |
| – Townhouse | $770,000 |
| – Condominium | $567,000 |
All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2024 ShowingTime.
- Fullerton Home Sales Prices Over Time
Fullerton’s median home prices show a gradual but consistent increase over the past three-year period, closely mirroring the trend in Orange County, yet typically at a slightly lower price point. In a more detailed view of Fullerton by property type, single-family homes exhibit the highest median sales prices with a steady rise over time. Condominiums and townhouses also display a growth pattern, with condominiums showing the most modest increase. The consistent uptrend in all property types indicates a sustained rise in home values in Fullerton, reflecting a strong and growing real estate market that offers diverse options for homeowners and investors.
- Current Home Sales Prices – Fullerton vs. Other Orange County Cities
Fullerton’s median home price is in the lower-middle range within Orange County. It is more affordable than coastal cities like Newport Beach and Laguna Beach but higher than cities like Anaheim and Santa Ana. This placement suggests that Fullerton is an attractive choice for homebuyers who are seeking the amenities and lifestyle of Orange County without the premium price tag of the most affluent areas.
2. Supply and Demand – Fullerton Housing Market
This section comprehensively examines Fullerton’s housing market’s supply and demand dynamics. It outlines the total housing stock, active listings, recent sales, current inventory level, and how quickly homes sell. A snapshot of these indicators helps illustrate the market’s fluidity and efficiency, providing prospective buyers with a clearer understanding of the pace and health of Fullerton’s real estate activities.
- Key Housing Market Indicators – Fullerton
In Fullerton, the real estate data indicates a vibrant market. The city has 98 active listings and 60 recently sold homes each month. This activity level shows a healthy turnover, with the average home being on the market for just nine days before selling. The inventory indicates a seller’s market, with only a 1.6-month supply.
| Total Homes in Fullerton | ~50,400 |
| Active Home Listings | 98 |
| Homes Sold | 60 |
| Inventory – Months Supply | 1.6 |
| Days on Market | 9 |
Total Homes in Fullerton: This refers to the approximate number of residential properties within the city.
Active Home Listings: The number of homes currently listed for sale in Fullerton.
Homes Sold: A count of the actual sales that have closed in a given month. Calculations are based on sold data.
Inventory—Months Supply: The inventory of homes for sale at the end of a given month, divided by the average monthly Pending Sales from the last 12 months. This is also known as the absorption rate.
Days on Market: The average number of days between listing a home in Fullerton and accepting an offer in a given month.
- Fullerton Active Listings vs. Homes Sold Over Time
Fullerton’s real estate activity is marked by a notable downward trend in both active listings and homes sold over the past three years. However, more recently, both active listings and homes sold have begun to stabilize, converging toward a new equilibrium.
- Current Days on Market – Fullerton vs. Other Orange County Cities
Fullerton stands out as one of the cities in Orange County where homes sell more rapidly, with properties spending a median of just nine days on the market. This brisk pace indicates a solid and active real estate market, where demand is high, and listings move quickly, reflecting a robust level of buyer interest within the region.
3. Property Taxes
Property taxes in California are determined by a combination of state law and county-specific regulations. Under Proposition 13, enacted in 1978, the base tax rate for properties is fixed at 1% of the assessed value. This assessed value is initially pegged to the purchase price and can only increase by a maximum of 2% annually, safeguarding homeowners from steep tax hikes when property values escalate quickly.
Orange County follows this state framework but also applies additional levies that can vary significantly between locations within the county. These can include voter-approved debt rates for city and district improvements, and direct assessments for community services like flood control and street lighting. Also, properties in areas with Mello-Roos districts may incur additional taxes for community facilities.
To aid in understanding, consider the example of a property tax bill below. It breaks down the individual components that constitute the total tax obligation. Notably, while the General Tax Levy remains constant at 1%, the aggregate of additional charges, such as special district assessments, significantly affects the overall tax bill. These variations emphasize the importance of due diligence in comprehending the full scope of property taxes when assessing the cost of homeownership in different parts of Orange County.
4. Median Home Size
This section examines the median home size and price per square foot in Fullerton, essential indicators for assessing property value and space. These metrics aid prospective buyers in comparing market value and understanding what their budget can secure in terms of home size, especially in relation to other areas in Orange County.
- Fullerton Home Size and Value
Fullerton homes present a modest median size compared to many other Orange County cities, with sold properties averaging around 1,590 square feet. Furthermore, Fullerton’s price per square foot stands at $567, reflecting a market that, while not at the premium level of cities like Newport Beach, still maintains a solid middle-ground value for property space within the county. This suggests Fullerton offers relatively more affordable square footage while still delivering on the overall appeal of Orange County living.
| Median Home Size | ~1,590 ft2 |
| Price per Square Foot | $567 |
All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2024 ShowingTime.
Fullerton Residents Data
1. Population
Exploring the dynamics of Fullerton’s population and its density offers a glimpse into the city’s living conditions and community structure. Population density, which measures the number of residents per square mile, sheds light on how closely people live together and can indicate the balance between urban development and available living space. Understanding this helps explain how population concentration impacts the social fabric, infrastructure, and lifestyle of residents in Fullerton in relation to other parts of Orange County.
- Fullerton Population Statistics
Fullerton has a population of approximately 137,663, with a population density of 6,137 residents per square mile. This suggests a relatively densely populated area, offering a bustling community environment compared to other regions with lower density, reflecting the city’s substantial residential and urban development.
| Population | 137,663 |
| Population Density (Residents per square mile) | 6,137 |
- Population Density – Fullerton vs. Other Orange County Cities
The map of Orange County shows varying degrees of population density across its cities, with Fullerton marked in a darker shade indicating a somewhat more densely populated city. The map illustrates the distribution of population across the county, with Fullerton’s moderate density reflecting a more urbanized setting with a concentration of residents that contributes to its vibrant community character.
2. Employment Industries and Median Income
Exploring Fullerton’s economic landscape reveals the key employment sectors underpinning the local job market and the median household income, which reflect the community’s overall financial health. A deeper understanding of these factors helps frame Fullerton’s economic position within the wider context of Orange County.
- Fullerton Industries and Employment Breakdown
Manufacturing is the largest industry, employing 13.1% of the area’s 68,514 workers. Health Care & Social Assistance and Retail Trade are also significant sectors, employing 12.2% and 10% of the workforce, respectively. Other notable sectors include Professional, Scientific, & Technical Services and Educational Services, each employing a sizeable portion of the population. This distribution suggests a diverse economy with a strong base in manufacturing, healthcare, retail, and professional services.
- Fullerton Median Household Income and Employment Rate
The chart indicates that Fullerton has a median household income of $97,004, positioning it in the mid to low range among Orange County cities. This income level is above some neighboring cities but has yet to reach the peaks seen in the wealthiest areas. Fullerton’s employment rate is 61.40%, which is a solid figure, although it doesn’t necessarily top the charts in Orange County. This suggests that Fullerton’s economic standing is robust, with most working-age population employed, and the median income reflects a stable economic environment.
| Median Household Income | $97,004 |
| Employment Rate | 61.40% |
(ages 16 and over) that is employed, excluding those not seeking employment, such as retirees and students.
Source: US Census Bureau
3. Fullerton City Attractions
Fullerton, California, is a city rich in history, culture, and education, offering a vibrant community life and diverse attractions. Here are some of the main attractions:
- Downtown Fullerton: Known for its lively atmosphere, historic buildings, and diverse array of restaurants, bars, and shops, making it a popular destination for nightlife and dining.
- Fullerton Arboretum: A 26-acre botanical garden with a collection of plants from around the world, offering a peaceful retreat and educational programs.
- Fullerton Museum Center: Dedicated to preserving and presenting local history, art, and culture through dynamic exhibitions and programs.
- Muckenthaler Cultural Center: A historic mansion turned cultural center, hosting art exhibitions, concerts, and community events in a picturesque setting.
- Hillcrest Park: A large, historic park featuring restored landscapes, walking trails, and scenic views, perfect for outdoor activities and relaxation.
- Fullerton College: One of the oldest community colleges in California, known for its architectural beauty and cultural contributions, including theater productions and art shows.
- Laguna Lake Park: Offers fishing, hiking, and equestrian trails around a natural lake, providing a serene environment for nature lovers.
- Clayes Performing Arts Center: Located at California State University, Fullerton, this venue presents high-quality performances in music, theatre, and dance.
- Fullerton Golf Course: A challenging, well-maintained 18-hole course that caters to golfers of all skill levels, set amidst rolling hills and scenic greenery.
- Fox Theatre Fullerton: An historic theater currently undergoing restoration, known for its classic architecture and efforts to become a premier entertainment venue.
Fullerton is celebrated for its educational institutions, historic charm, and commitment to arts and culture, offering a rich tapestry of experiences for residents and visitors alike.
Conclusion
The Fullerton housing market reflects a stable and promising sector within the vibrant Southern California region. It presents various residential options, accommodating a range of preferences and financial considerations. The market is marked by a steady demand and a healthy sales pace, indicative of a robust local economy. This report delineates the essential details of Fullerton’s real estate, highlighting its moderate population density and median income indicative of its economic vitality. Ultimately, Fullerton stands out as a balanced and appealing market within the competitive landscape of Orange County’s varied communities.
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