The Anaheim, CA metro area housing market in February 2025 presents a dynamic landscape with several key indicators showing varied trends. The Median Sales Price for homes in the region stands at $1,200,000, reflecting a modest year-over-year increase of 0.4%. This slight uptick suggests a stabilization in home prices, despite broader economic fluctuations.

In contrast, the Median List Price has risen by 2.1% year-over-year, reaching $1,299,000. This indicates that sellers are optimistic about the market's potential, setting higher initial asking prices. The median Price Per Square Foot has also seen a notable increase of 4.2%, now at $679.87, while the Median List Price per square foot has surged by 7.6% to $709.39. These figures suggest a robust demand for housing, particularly in terms of Price Per Square Foot.

Sales activity in the Anaheim area is on the rise, with 1,498 Homes Sold, marking a 3.7% increase from the previous year. Pending Sales have also grown by 5.1%, totaling 1,977. This upward trend in sales activity is further supported by a 9.1% increase in New Listings, which now number 2,140. However, the inventory has decreased significantly by 24.2%, with only 2,301 homes available, indicating a tightening market.

The Months of Supply, a critical measure of market balance, has dropped dramatically by 60.0% to just 1.5 months. This sharp decline suggests a strong seller's market, where demand outpaces supply. Homes are spending a median of 35 days on the market, a slight increase of 3.0% year-over-year, indicating that while homes are selling quickly, there is a slight slowdown in the pace of sales.

The average sale to list ratio has decreased by 1.0% to 99.8%, suggesting that homes are selling very close to their list prices. However, the percentage of Homes Sold above list price has decreased by 7.6% to 38.7%, indicating a slight cooling in competitive bidding. Price Drops have increased by 19.7%, affecting 34.3% of listings, which may reflect sellers adjusting expectations in response to market conditions.

Additionally, the percentage of homes going off the market within two weeks has decreased by 13.4% to 41.5%, suggesting that while many homes are still selling quickly, there is a growing segment that remains on the market longer.

Overall, the Anaheim housing market in February 2025 is characterized by rising prices and strong sales activity, despite a significant reduction in inventory and Months of Supply. The market remains competitive, with sellers adjusting to changing conditions and buyers facing limited options. As the year progresses, these trends will be crucial to monitor for potential shifts in market dynamics.