Advice Buying Market Trends

Seller’s Market in Orange County – See the Data

Sellers MarketThe data shows inventory of homes for sale is at 2004 levels. It feels worse if you are a buyer. If you find a home, it may already be sold or at least have a dozen offers on it. Prices are UP all over the county. It is nearly impossible to find a DEAL. The definition of a deal can now be simply getting your offer accepted. Don’t believe me? Ask someone who has been writing offers for 2-3 months or more. Or just check out the data for the last 12 months for ALL Orange County properties.

Here is the data for active, pending and sold homes: market activity.

Here is the data for average price per square foot: price.

Here is the data for average days on market and sold price percentage of list price: days on market.

Here is the data for average price of homes for sale and average price of home sold: sold vs. sale.

Here is the data for months of inventory based on closed sales: inventory.

Prices are UP. Inventory is SLASHED. Competition is FIERCE. Interest rates are LOW. It is unclear when more sellers will begin to list their homes for sale. But it does not look like anytime soon. So for now, prices are going up. Offers are coming in over asking and homes are going into escrow within a week or two of going on the market. Now is a great time to buy or sell as prices are on the rise. Call me for more info 949.525.5905.

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