The Garden Grove housing market embodies the dynamic spirit of Southern California, offering a diverse range of properties that cater to various preferences and budgets. This report dives into the depths of Garden Grove’s real estate landscape, examining the current home prices by property type and juxtaposing them with the broader market of Orange County. With insights into pricing trends, supply and demand, and other vital market indicators, this analysis is poised to serve as a beacon for prospective homebuyers and investors aiming to navigate the unique opportunities that Garden Grove presents.
Table of Contents
Garden Grove Housing Market Data
1. Median Home Price
This section analyzes Garden Grove, 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 Garden Grove’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 Garden Grove.
- Current Sales Prices of Garden Grove Homes
The table below showcases the median sales prices for homes within Garden Grove, detailing an overall median price of $861,000. Single-family homes in Garden Grove are currently fetching higher median sales prices, around $925,000, while townhouses and condominiums are presented as more affordable options at median prices of $642,000 and $540,000, respectively. This pricing structure highlights Garden Grove’s more affordable real estate offerings, catering to a range of homebuyer budgets within the market.
| Property Type | Garden Grove Median Home Sales Price |
| All Properties | $861,000 |
| – Single-Family Home | $925,000 |
| – Townhouse | $642,000 |
| – Condominium | $540,000 |
All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2024 ShowingTime.
- Garden Grove Home Sales Prices Over Time
The accompanying charts reveal that Garden Grove’s median home sales prices have experienced an increase over time, closely reflecting the general pricing trend of Orange County, albeit at a slightly lower level. The data indicates a consistent appreciation in property values, with single-family homes maintaining a higher price point versus other types of properties. Despite the overall increase, Garden Grove’s real estate market remains more affordable compared to many other cities within Orange County, providing various housing options for buyers seeking value in a competitive market. The price trajectories for single-family homes, townhouses, and condominiums in Garden Grove demonstrate similar growth patterns, ensuring the city is a financially accessible choice for a range of homebuyers.
- Current Home Sales Prices – Garden Grove vs. Other Orange County Cities
In the Orange County housing landscape, Garden Grove presents more accessible real estate options. Its median home sales price places it on the lower end within the county, providing a more affordable entry point compared to cities like Newport Beach and Laguna Beach. However, it maintains a slightly higher price point than cities such as Santa Ana and Anaheim. This positioning reflects Garden Grove’s appeal to buyers seeking value in a generally less expensive market than many of its Orange County neighbors.
2. Supply and Demand – Garden Grove Housing Market
This section comprehensively examines the supply and demand dynamics within Garden Grove’s housing market. 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 Garden Grove’s real estate activities.
- Key Housing Market Indicators – Garden Grove
In Garden Grove, the housing market is notably dynamic, with an average of 81 active listings each month and 48 homes sold, suggesting a sellers’ market with a relatively low inventory of just 1.5 months. Properties move swiftly from listing to sale, averaging around ten days on the market, reflecting robust demand and the city’s competitive real estate environment.
| Total Homes in Garden Grove | ~48,600 |
| Active Home Listings | 81 |
| Homes Sold | 48 |
| Inventory – Months Supply | 1.5 |
| Days on Market | 10 |
Total Homes in Garden Grove: This refers to the approximate number of residential properties within the city.
Active Home Listings: The number of homes currently listed for sale in Garden Grove.
Homes Sold: This is 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 when a home in Garden Grove is listed and when an offer is accepted in a given month.
- Garden Grove Active Listings vs. Homes Sold Over Time
In Garden Grove, the active listings have begun to level off, closely following the pattern of homes sold, which also shows a stabilization. This indicates a consistent pace in the market, with supply and demand reaching more of a balance after a period of higher activity.
- Current Days on Market – Garden Grove vs. Other Orange County Cities
In Garden Grove, homes tend to sell more quickly than in many surrounding areas of Orange County, as evidenced by the notably short median duration on the market. This rapid turnover rate highlights Garden Grove’s strong real estate demand, positioning it as a sought-after location where properties are both listed and closed efficiently, reflecting a dynamic and attractive market for potential buyers.
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 help you better visualize this, consider the property tax bill example 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 Garden Grove, 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.
- Garden Grove Home Size and Value
In Garden Grove, the housing market is characterized by homes with a median size on the lower end of the spectrum in Orange County, averaging around 1,480 square feet. Despite the smaller size, the price per square foot is close to the county’s average at $581. This suggests that while the homes are more compact, the market still maintains a solid valuation of property space. This positions Garden Grove as a market with relatively affordable space, offering homebuyers the opportunity for homeownership in a competitive Southern California region.
| Median Home Size | ~1,480 ft2 |
| Price per Square Foot | $581 |
All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2024 ShowingTime.
Garden Grove Residents Data
1. Population
Exploring the dynamics of Garden Grove’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 Garden Grove in relation to other parts of Orange County.
- Garden Grove Population Statistics
Garden Grove has a high population of around 166,749 and a population density on the higher end as well, with 9,286 residents per square mile, signifying a bustling and vibrant community atmosphere.
| Population | 166,749 |
| Population Density (Residents per square mile) | 9,286 |
- Population Density – Garden Grove vs. Other Orange County Cities
Garden Grove, with its darker shade on the map, indicates a higher population density compared to most other Orange County cities. This reflects a more urban setting where residents live closer together, contributing to a lively and closely-knit community fabric within the county.
2. Employment Industries and Median Income
Exploring Garden Grove’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 Garden Grove’s economic position within the wider context of Orange County.
- Garden Grove Industries and Employment Breakdown
In Garden Grove, the workforce distribution significantly emphasizes Manufacturing, the leading employment sector, followed by Health Care & Social Assistance and Retail Trade. This indicates a local economy with a solid industrial base complemented by a focus on health services and consumer-oriented businesses.
- Garden Grove Median Household Income and Employment Rate
Garden Grove’s median household income is $86,975, placing it in the lower middle range among Orange County cities. Its employment rate of 63.80% is near the average, suggesting a diverse economic base where income may not solely be defined by high-earning professions but by a mix of various job sectors contributing to overall household earnings.
| Median Household Income | $86,975 |
| Employment Rate | 63.80% |
(ages 16 and over) that is employed, excluding those not seeking employment, such as retirees and students.
Source: US Census Bureau
3. Garden Grove City Attractions
Garden Grove, California, is a vibrant city with a rich cultural heritage, renowned for its community events and lush green spaces. Here are some of the main attractions:
- The Strawberry Festival: One of the largest community festivals in the western United States, celebrating Garden Grove’s agricultural history with a parade, games, and strawberry-themed foods.
- Historic Main Street: Offers a charming glimpse into the city’s past with vintage shops, local eateries, and the Garden Grove Historical Society.
- Atlantis Play Center: A beloved children’s playground featuring whimsical sea creature sculptures, slides, and play areas, perfect for family outings.
- Garden Grove Park: This is the city’s largest park. It provides sports fields, picnic areas, and a dog park, making it a hub for outdoor activities and community gatherings.
- Festival Amphitheatre: Home to the Shakespeare Orange County, this outdoor venue hosts a variety of performances and concerts under the stars.
- Stanley Ranch Museum & Historical Village: A collection of historic buildings and artifacts that offer a window into the early days of Garden Grove and Orange County.
- Crystal Cathedral: An architectural marvel, now known as Christ Cathedral, this church is famous for its stunning glass building and religious services.
- Village Green Park: Centrally located, it hosts many of the city’s major events, including the annual Tree Lighting Ceremony and summer concerts.
- Garden Grove Dog Park: A dedicated space for dogs to play off-leash, featuring separate areas for small and large dogs.
- SteelCraft Garden Grove: An outdoor urban eatery crafted from repurposed shipping containers, offering a variety of local food and drink options.
Garden Grove seamlessly blends its cultural diversity with community pride, offering residents and visitors a warm, inviting atmosphere filled with year-round events and attractions.
Conclusion
The Garden Grove housing market concludes as an inviting panorama of affordability and variety within the upscale realm of Orange County. Its housing market reflects a steady climb in home values, with single-family homes leading the charge in price, yet remains within reach for buyers seeking value. The market’s relatively low inventory and quick sales cycle are testaments to its ongoing demand and appeal. Garden Grove stands out as a city where the aspirations for homeownership meet the practicality of the market, offering a sustainable living experience in a vibrant Southern California community. The rich fabric of employment sectors further underlines the city’s economic resilience, making it not just a place to live, but a place to thrive.
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