Advice Buying Market Trends Selling

Values of Condos and Townhomes on the Rise – in a Big Way – in South OC

Orange County CondoIf you currently own a condo or townhome or an attached home valued at under $500,000, your home value is on the rise. Buyers are out there in DROVES, clamoring for a South Orange County home in this price range. Every condo or townhome receives multiple offers in Orange County. They are on the market for just a few days, receive about five or six offers (or more), and then enter into escrow. This is the case whether a short sale or a regular equity sale. This has been the case for several months now, and this activity is not lessening. It is causing values of these types of homes to rise in a big way.

For every condo that gets 5 or six offers, there are 4 or 5 home buyers out there still in need of a property. The law of supply and demand is putting upward pressure on home prices.

Condos that were selling at $240,000 at the beginning of the year are now selling around $270,000.  Condos that were selling at $315,000 at the beginning of the year are now selling around $340,000.  This is huge.

If you are a buyer, you need to stop waffling and start writing offers. If you are a seller, you can confidently sell and should purchase your upleg home before those prices experience such a rise.

If you own a condo or townhome in South Orange County, I have buyers right now!  Call me today! 949.525.5905.

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