If you have been thinking of buying a condo or townhome either as your principal residence or as an investment property, now may be the best time to make that purchase according to the latest market data here in Orange County. Inventory is down by over 37% year over year and pending condo sales are up over 57% over the past twelve months. Price per square foot has come down about 9.4% year over which most likely accounts for the increase in pending home sales even as we near the end of the year. Demand normally picks up after the beginning of the year, so you should at least begin looking!
Here are the graphs: Sale vs. Sold over the past twelve months, click here.
For the graph showing price per square foot data for condos/townhomes over the past twelve months, click here.
For the days on market and sold price vs. original market price data, click here.
For months of inventory data for Orange County condos/townhomes over the past twelve months, click here.
As always, if you need more info or have any questions, call me, text me or email me: 949.525.5905.
