Normally Orange County sees an increase in homes for sale as we head to summer. That is not the case this year. Sellers remain reluctant to sell as buyers continue to enter the market en masse to take advantage of low interest rates and good prices.
The trend has been consistent for months, and I see no reason for it to end. Sellers will put their homes on the market for sale, but they get sold quickly, depleting the inventory as it becomes available. Here are the numbers and charts from May of 2011 to end of May 2012:
Here is the chart for all Orange County homes and condos, for sale, pending and sold: chart.
Here is the chart for all Orange County homes and condos average price per square foot: chart.
Here is the chart for all Orange County homes and condos average price for sale and average price sold: chart.
Here is the chart for months of inventory for all Orange County homes and condos: chart.
As you can see from the charts, the data is incredible. It is a seller’s market in Orange County. If you have a desirable home, whether it is a short sale or a regular equity sale, you can count on selling it quickly. Even if your home has some issues, you can probably count on getting more for it than you expected due to lack of inventory.
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