Mission Viejo Real Estate Report July 2013

Mission Viejo Real Estate Report

Mission Viejo Real Estate at a Glance:  prices remain strong but volume dipped and inventory rose. We have to wait and see what next month holds to determine if there is a new trend forming

South Orange County Real Estate General Economic Conditions: inventory has been ticking upwards and currently homes are taking a bit longer to sell. Prices continue to trend upwards. Right now it is common for a home to be listed at a price higher than market than gradually worked back down to market levels as sellers try to capitalize on the summer selling season.

Detached Homes

Current Active Inventory 115

Behind the Numbers

Average volume past 3 months 88

Prices remain strong

Volume  a drop off after three extremely high months, next month will be telling on the volume trend going forward

Months of Inventory  rose slightly as volume declined

mv detached months mv detached price mv detached volume

What this means for

Buyers – buyers now have more options to choose from and less competition for those homes. However this may just be a one month event and not a new trend. To make sure you are seeing everything as soon as it hits the market we offer email listing alerts so you see exactly what’s on the market and find the best Mission Viejo home for you.

Sellers –  The drop in volume and increase in inventory for last month may just be a one month event or might be the start of a new trend where the market shifts to a buyers market. If you think there is a new trend forming sell now, otherwise wait to see what next month holds. For an accurate idea of what you should expect to get for your home get your free home valuation emailed to you.

 

Attached Homes

Current Active Inventory 66

Behind the Numbers

Average volume past 3 months 34.5

Prices  upward trend continues

Volume  slight fall from last month but still strong

Months of Inventory big jump as more homes hit the market

mv attached volume mv attached price mv attached monhts

What this means for

 

Buyers – move quick and be prepared for multiple offer situations.To make sure you are seeing everything as soon as it hits the market we offer email listing alerts so you see exactly what’s on the market that fits your criteria as soon as it hits the market.

Sellers – If demand comes in to meet the increased inventory the sellers market will continue, if however months of inventory continues to rise and volume stays flat the market may move to a buyers market before you know it.  For an accurate idea of what you should expect to get for your home get your free home valuation emailed to you.

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