Once again pending single family home sales in all of Orange County are up month over month and year over year. Sold homes, properties that have actually closed escrow, are also up month over month and year over year. Inventory continues to drop as well. This is good news. Normally inventory peaks in August, but just the opposite has happened this year. I have several graphs that show the Orange County real estate market data from September 2010 to August 2011.
Click here to see active, sold and pending data for all OC single family homes.
Click here to see the price per square foot data for all OC single family homes.
Click here to see the average days on market and the list price vs. sold price data.
Click here to see the months of inventory for all OC single family homes for the past 12 months.
It appears that at least in Orange County as a whole, the market has returned to a neutral market; neither a buyer’s or a seller’s market. Prices have been bouncing along the bottom the whole year within a very narrow range, and time on the market is a very do-able 90 days. Good news for both buyers and sellers. Lower inventory means sellers can feel more comfortable about listing their home, buyers can enjoy incredibly low interest rates, and both can feel pretty good that prices have been pretty stable for the past 12 months and appear to be trending toward continued stability.
If you have questions or need more info or want specific info about a particular city, give me a call or shoot me an email.