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Sizing Up the Market by the Square Foot: Orange
Orange: $424/square foot
Inside the guard-gated Portofira neighborhood is this 4,450-square-foot five-bedroom, five-bath Mediterranean for $1.9 million. The 1997 residence on North San Miguel Drive has an eat-in kitchen with stainless-steel appliances and a vegetable sink at the island. The property includes a garage for four cars, an outdoor barbecue, and a pool and spa. Listing agent: Kathy Leimkuhler, 714-855-8050
How much is a single square foot of home worth in Orange County? While it can be as much as $10,000 on rare occasions in Laguna Beach, or a couple hundred dollars elsewhere, the county’s median sales price is $335 per square foot—and rising.
Zillow’s economists predict a 5 percent jump in local home values this year, compared with 3 percent nationwide, says Svenja Gudell, the real estate website’s director of economic research. “Orange County is certainly one of the more expensive counties in California, and the nation as a whole,” she says. The local median home’s price per square foot outpaces the state’s by $99, and nearly triples the national median of $118.