Multifamily Sales Pulse for Orange County - Southern California November 2026

Orange County

Orange County Multifamily Market Update — November 2026

October 2026 Sales Results

Orange County's multifamily market remained active in October, although rising inventory and longer marketing times suggest buyers are becoming increasingly selective.

A total of 45 apartment properties closed escrow during October, while the average time on market increased to 54 days. Active listings climbed to 312 properties, giving prospective buyers a wider selection of investment opportunities.

Of the 45 closed transactions, 38 involved properties with two to four units, while seven involved buildings with five or more units. Financing was used in 31 transactions, with the remaining 14 purchases completed entirely in cash.

The monthly sales absorption rate was 14.42%, representing approximately 6.9 months of inventory at October's sales pace. This suggests a more balanced market in which buyers have greater flexibility when evaluating properties and negotiating terms.

Despite the increase in available inventory, completed sales demonstrate that buyers remain willing to invest in Orange County multifamily properties. However, pricing, property condition, rental income, and operating expenses continue to play important roles in purchasing decisions.

MIKE'S TAKEAWAY: Orange County's apartment market remains active, but today's buyers are taking a more measured approach. For owners considering a sale, competitive pricing and realistic expectations are increasingly important. For those planning to hold, understanding how their property's income, expenses, and current equity are performing can help identify opportunities to improve their investment returns.

Whether you're considering selling or continuing to hold, understanding your property's current market position is the first step toward making an informed decision.

Southern California

Southern California Multifamily Market Update — November 2026

October 2026 Sales Results

Southern California's multifamily market continued to demonstrate buyer activity in October, although longer marketing times and substantial available inventory suggest that investors remain selective when evaluating apartment properties.

A total of 521 multifamily properties closed escrow during October, with an average sale price of $1,594,877. The average time on market increased to 70 days, indicating that properties are taking longer to attract buyers and complete transactions.

Of the 521 closed sales, 396 involved properties with two to four units, while 125 involved apartment buildings with five or more units.

Active inventory totaled 12,916 properties across Orange, Los Angeles, Riverside, San Bernardino, and San Diego counties, with 1,106 new listings entering the market during the month. The market reported approximately 25 months of inventory, reflecting a substantial supply of available properties relative to the current pace of sales.

Contract activity included 163 properties under contract and another 181 pending, demonstrating that buyers continue to pursue investment opportunities despite more cautious purchasing decisions.

With a significant number of properties available, buyers have considerable flexibility when comparing investment opportunities. Property condition, rental income, operating expenses, financing costs, and realistic pricing remain important factors influencing purchasing decisions.

MIKE'S TAKEAWAY: Southern California's multifamily market remains active, but the combination of longer marketing times and elevated inventory reinforces the importance of competitive pricing. Sellers need to understand how their property compares with competing listings, while owners planning to hold should regularly evaluate rental income, operating expenses, and the return they're earning on their current equity.

Whether you're considering selling, repositioning your property, or continuing to hold, understanding current market conditions and your property's financial performance is essential to making informed investment decisions.