Orange County Housing Report July 2013

Orange County Real Estate – The Summer Selling Season is in Full Swing!

Active Inventory  -still struggling to catch up to demand

Hopefully next month brings more homes onto the market, because despite a few temporary jumps in inventory the available inventory on a monthly basis is still very low.

The chart below represents single family homes, town homes & condos for all of Orange County.

oc active listings

Sales Prices - just continues to march upwards!

No leveling off yet as the summer selling season should bring continued increases.

The chart below represents all single family, town homes, and condos in all of Orange County.

oc price

Months of Inventory - stable at 2

Months of Inventory at 2 represents a seller’s market. Buyers are still facing stiff competition for available homes and sellers are benefiting from rising prices and low inventory. This trend should continue through the summer.

The chart below represents all single family, town homes, and condos in all of Orange County.

oc months

Volume - holding firm

Volume dropped a slight bit last month but is holding in the established range. We expect to sell this number over 3000 in the next two months assuming more inventory come onto the market and rates do not rise to much.

The chart below represents all single family, town homes, and condos in all of Orange County.

oc volume

Days to Sell - still holding right below 60. 

This is a great sign for seller’s and as long as demand remains strong we expect this number to hold. If your planning on selling your home you can use this chart to gauge how long to expect it to take to close and to determine if your pricing is correct.

oc days to sell

What all this Means to:

Sellers - with high summer demand and a host of favorable trends combined with likely interest rate increases as the year progresses this summer may be the best time to sell your home.  So if your thinking about selling capitalize on what may be the best time to do so.

Buyers - buyers need to move quick, be prepared for multiple offer situations, package their offer properly to better their chances, open their search criteria to be able to see more homes, and be patient and persistent in their search.

For more information or more details on a specific city please contact me direct at 949 599 6860, thanks Sherry

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