The Santa Ana housing market presents a landscape of opportunities within Orange County’s dynamic environment. This article examines home prices across various property types, providing insight into Santa Ana’s positioning within the broader market. With detailed analysis, readers will gain an understanding of value propositions ranging from single-family homes to condominiums, equipping them with the knowledge required to navigate this active real estate sector.
Table of Contents
Santa Ana Housing Market Data
1. Median Home Price
This section analyzes Santa Ana, 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 includes a comparison of Santa Ana’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 Santa Ana.
- Current Sales Prices of Santa Ana Homes
The table below outlines the current sales prices for properties in Santa Ana, with an overall median price of $735,000. The market shows single-family homes with a higher median sales price of $840,000. In contrast, townhouses and condominiums present more accessible options at $630,000 and $455,000, respectively, offering a variety of choices to suit different budgets within the real estate market.
| Property Type | Santa Ana Median Home Sales Price |
| All Properties | $735,000 |
| – Single-Family Home | $840,000 |
| – Townhouse | $630,000 |
| – Condominium | $455,000 |
All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2024 ShowingTime.
- Santa Ana Home Sales Prices Over Time
The charts illustrate a consistent increase in the median sales prices of homes in Santa Ana, although they remain below the overall Orange County average. Across the board, all housing categories have shown upward pricing trends. However, single-family homes have consistently maintained higher price points relative to townhouses and condominiums.
- Current Home Sales Prices – Santa Ana vs. Other Orange County Cities
The graph highlights that Santa Ana’s median home sales prices are among the lowest for Orange County cities. This affordability makes Santa Ana a comparatively accessible market within the region’s diverse real estate landscape.
2. Supply and Demand – Santa Ana Housing Market
This section comprehensively examines the supply and demand dynamics within Santa Ana’s housing market. It outlines the total housing stock, active listings, recent sales, current inventory level, and how quickly homes are selling. 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 Santa Ana’s real estate activities.
- Key Housing Market Indicators – Santa Ana
Santa Ana’s housing market is characterized by its brisk activity, averaging 140 properties on the market and 69 homes sold each month. The city maintains a tight inventory, with just 1.9 months of supply, and properties move quickly, typically selling in about 11 days.
| Total Homes in Santa Ana | ~79,200 |
| Active Home Listings | 140 |
| Homes Sold | 69 |
| Inventory – Months Supply | 1.9 |
| Days on Market | 11 |
Total Homes in Santa Ana: This refers to the approximate number of residential properties within the city.
Active Home Listings: The number of homes currently listed for sale in Santa Ana.
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. Also known as absorption rate.
Days on Market: The average number of days between listing a home in Santa Ana and accepting an offer in a given month.
- Santa Ana Active Listings vs. Homes Sold Over Time
Santa Ana’s real estate market has experienced a significant reduction in active home listings since early 2021. Recently, both active listings and the number of homes sold have stabilized, indicating a more consistent market pace. This steadiness points to a normalized real estate environment, differing from the previously observed high activity levels.
- Current Days on Market – Santa Ana vs. Other Orange County Cities
The Santa Ana housing market demonstrates a moderate pace in sales, with homes remaining on the market for a length of time that is average among Orange County cities. This reflects a balanced demand within Santa Ana’s real estate market, where properties are neither the quickest nor the slowest to sell in the region, indicating a steady interest from 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 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 Santa Ana, 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.
- Santa Ana Home Size and Value
Santa Ana’s housing market offers a median home size of approximately 1,330 square feet, which is modest in comparison to other Orange County cities. The price per square foot stands at a more affordable $554, catering to a broad range of preferences and budgets within the diverse Orange County real estate landscape.
| Median Home Size | ~1,330 ft2 |
| Price per Square Foot | $554 |
All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2024 ShowingTime.
Santa Ana Residents Data
1. Population
Exploring the dynamics of Santa Ana’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 Santa Ana in relation to other parts of Orange County.
- Santa Ana Population Statistics
Santa Ana has a large population of around 306,457 with a high density of 11,201 residents per square mile, indicating a highly social and dynamic urban community.
| Population | 306,457 |
| Population Density (Residents per square mile) | 11,201 |
- Population Density – Santa Ana vs. Other Orange County Cities
Santa Ana, distinguished by its darker hue on the map, boasts the most concentrated population density among its Orange County counterparts. This points to Santa Ana’s bustling and energetic atmosphere within the county.
2. Employment Industries and Median Income
Exploring Santa Ana’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 Santa Ana’s economic position within the wider context of Orange County.
- Santa Ana Industries and Employment Breakdown
Santa Ana’s labor market is characterized by a strong manufacturing presence, accounting for 13.7% of the employment sectors, closely followed by retail trade at 11%. The city also shows significant employment in administrative & support, alongside health care and social assistance, as well as accommodation and food services. This varied industrial mix highlights the city’s multifaceted job landscape.
- Santa Ana Median Household Income and Employment Rate
Santa Ana’s median household income, at $79,351, is more modest relative to many Orange County cities. Nevertheless, a robust employment rate of 63.50% suggests a resilient job market contributing to the city’s overall earnings, beyond just top-tier income brackets.
| Median Household Income | $79,351 |
| Employment Rate | 63.50% |
(ages 16 and over) that is employed, excluding those not seeking employment, such as retirees and students.
Source: US Census Bureau
3. Santa Ana City Attractions
Santa Ana, California, is a dynamic city with a rich cultural tapestry and an array of engaging attractions. Here are some of the central attractions:
- Bowers Museum: A world-class museum offering diverse exhibits that celebrate human cultures from ancient times to the present.
- Discovery Cube Orange County: An interactive science museum with hands-on exhibits that ignite the imagination of children and adults alike.
- Santa Ana Zoo at Prentice Park: A charming zoo focusing on the animals and plants of Central and South America, with a notable collection of monkeys.
- Downtown Santa Ana Historic Districts: Encompassing several blocks of historic buildings, the area is a thriving spot for food, arts, and entertainment.
- Santa Ana Artists’ Village: The cultural heart of the city, featuring art galleries, studios, and creative businesses.
- Heritage Museum of Orange County: Historical site that features restored buildings and gardens from the 1890s, offering a glimpse into the region’s past.
- The Frida Cinema: An art house theater offering independent, foreign, and cult classic films to the community.
- Willowick Golf Course: A traditional parkland-style golf course, which is the oldest 18-hole public golf course in Orange County.
- The Observatory Orange County: A live music venue that hosts a variety of concerts and events in an intimate setting.
- Santiago Creek Wildlife & Watershed Center, Santiago Park Nature: This park provides natural space for hiking, wildlife viewing, and education about the local ecosystem.
Santa Ana attracts those who appreciate the fine arts, history, and the vibrancy of an active urban environment.
Conclusion
Santa Ana’s real estate market stands out for its robust activity and diverse offerings. The statistics discussed here shed light on a community that balances urban vibrancy with the promise of growth and stability. Santa Ana represents a market replete with possibilities for those considering a purchase, blending economic viability with a rich cultural backdrop integral to the Orange County region.
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