The Anaheim, CA metro area housing market in January 2025 presents a dynamic landscape characterized by rising prices and increased inventory. The Median Sales Price has reached $1,199,500, marking a 4.8% increase year-over-year. This upward trend is mirrored in the Median List Price, which stands at $1,275,000, reflecting a significant 9.2% rise compared to the previous year.

Price Per Square Foot has also seen an upward trajectory, with the median Price Per Square Foot at $666.54, up by 7.1% year-over-year. The Median List Price per square foot is $696.66, showing an 8.4% increase. These figures indicate a robust demand for housing in the area, despite the rising costs.

In terms of sales activity, the number of Homes Sold has increased by 6.8% year-over-year, totaling 1,295 homes. However, Pending Sales have decreased by 3.2%, with 1,572 homes currently under contract. This decline in Pending Sales could suggest a potential cooling in buyer enthusiasm or challenges in closing transactions.

New Listings have surged by 17.9%, reaching 2,104, while inventory has expanded significantly by 33.3%, totaling 3,734 homes. This increase in inventory has contributed to a rise in the Months of Supply, now at 2.90 months, a substantial 60.0% increase from the previous year. The expanded inventory and supply may provide more options for buyers, potentially easing some of the competitive pressures in the market.

The Median Days on Market have increased by 11.0%, now averaging 55 days. This suggests that homes are taking longer to sell, possibly due to the increased inventory and higher prices. The average sale to list ratio has slightly decreased by 0.4%, now at 99.1%, indicating that homes are selling closer to their list prices, but with less frequency above the list price.

The percentage of Homes Sold above the list price has decreased by 2.5%, now at 33.3%. Additionally, Price Drops have increased by 2.4%, with 17.2% of listings experiencing reductions. This could indicate that sellers are adjusting their expectations in response to the changing market dynamics.

Finally, the percentage of homes going off the market within two weeks has decreased by 9.9%, now at 36.4%. This decline suggests that homes are not moving as quickly as they were in the previous year, possibly due to the increased inventory and higher price points.

Overall, the Anaheim housing market in January 2025 is characterized by rising prices and increased inventory, with some signs of cooling in buyer activity. While demand remains strong, the market dynamics suggest a shift towards a more balanced environment, offering opportunities for both buyers and sellers to navigate the evolving landscape.