Orange County Housing Report June 2013

Orange County Real Estate – The Market is Heating Up!

Active Inventory  -still way to low, especially for this time of year

We need more volume to satisfy the high level of demand from existing buyers. As summer progress and more buyers start to enter the market even more homes will need to find their way onto the market. As prices continue to climb and homeowners have more equity more homes should be hitting the market.

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

oc active inventory

Sales Prices - the gradual upward tend continues!

If you look at the chart below the average sales price has risen a hundred thousand dollars in 12 months, that is amazingly impressive appreciation. At some point we expect prices to level off for a bit, but for now prices are moving up and up.

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

oc median sales price

Months of Inventory - dropping month to month

Basically there is less and less inventory to meet the demand. As months of inventory decreases buyers need to act quickly and be prepared for multiple offer situations. For sellers you couldn’t ask for a better market.

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

oc months of inventory

Volume - on the rise as we enter the summer selling season

Volume just keeps moving up and should continue to do so as the summer season continues. Last month was the busiest in the past 12 months and we expect this month to be even busier, 3000 is right around the corner.

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

oc volume

Days to Sell - the sales cycle is getting shorter and shorter for homeowners. 

Basically you are at half the days to sell as you were a year ago, showing how much better the market is today, especially for sellers.

oc days to sell

What all this Means to:

Sellers - this summer may represent the best time to sell your home this year. The usual summer demand should cushion sellers from any leveling off of prices which has to happen at some point and our estimate is it will happen in the fall or winter. 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

Find out how much your home is worth now with our home value email report

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