Orange County’s average home value in May was just under $1.2 million and up 1.2 percent over the past year, according to Zillow.
The only other California markets ranked as very overpriced were San Diego and Riverside-San Bernardino at 25 percent. Los Angeles, San Jose, San Francisco, Sacramento and the East Bay were all ranked as overpriced, and were determined to be priced between 19 percent and 11 percent too high.