THE HOUSING MARKET in Garden Grove was the third-hottest among mid-sized cities in the United States in 2023 (Shutterstock).

It was once speculated that Garden Grove might be sitting on a fortune of underground petroleum, or “black gold.”

Now, it seems that Garden Grove homeowners are sitting on – or living – in a pile of real gold.
According to Construction Coverage, which monitors the market for housing across the United States, Garden Grove ranks third out of 122 midsize cities in the nation in its “Hottest Real Estate Markets of 2024” report.

The Big Strawberry is topped only by Providence, Rhode Island and Fremont, California on the list. Other California cities in the Top 15 are Hayward (sixth), Irvine (eighth), Anaheim (11th), Escondido (14th) and Chula Vista (15th).

The reports states that, as of December 2023, the median home sale price in Garden Grove was $925,000, representing a 16 percent increase over one year.

Fifty-three percent of Garden Grove homes sold over their asking price in 2023, and spent a median of 33 days on the market.

Criteria used in ranking the markets included not just the one-year change in median sale price, but also the share of homes sold above asking price, median number of days on the market, average sale-to-list percentage and share of listings with price drops.