What does the Orange County market have in store for buyers and sellers?
Stay tuned to find out.
Stay tuned to find out.
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I’ve got a market housing report to share with you today that will provide you with all the statistics you need to know about the real estate market whether you’re buying, selling, or investing.
If you’re a buyer out there, your competition is fierce. We continue to have very low inventory. The fact that homes are consistently selling in under 60 days puts us into a strong seller’s market throughout Orange County. There are currently 1,077 fewer homes on the market now than there were at this time last year.
If demand remains strong and inventory continues to drop, we will start to see more and more multiple offer situations with well-priced homes. These homes will sell well above asking price.
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The majority of the activity in our market is in the $750,000-and-under range. This portion of the market makes up 40% of our inventory and 61% of our demand. When you combine this market with the $750,000 to $1 million market, that’s where 80% of our demand is. If you’re in a situation where you're selling a home priced under $750,000 and looking for a home in the $1 million plus range, this is a great market to make a move in.
These homes will sell well above asking price.
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If you have any other questions about your specific area of the market or anything else related to real estate, give me a call or send me an email. I would love to hear from you soon.
