Orange County Housing Report May 2013

Orange County Real Estate – The Market is Heating Up!

Active Inventory  – the number of homes hitting the market is starting to climb ahead of the prime selling season

As we enter the summer prime real estate selling season the number of homes hitting the Orange County Real Estate market has started to climb, a trend we expect to continue as the year progresses. We are still way off from last May but could climb back up to that level with so many homeowners enjoying the rise in property values and now being able to sell with equity. This is great news for buyers who will have more options to choose from.

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

active over a year

 

Sales Pricescontinue to climb upwards!

Sales prices in Orange County continue to move upwards as the housing rebound continues. As long as interest rates stay low expect this trend to continue for the foreseeable future.

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

median sales price

 

Months of Inventorycontinues to drop as more and more buyers are active in the market 

Even with increasing inventory levels there is still more demand than their is supply for Orange County Real Estate. When homes hit the market buyers are flocking to them making it a great time to be a seller. This number should continue to trend down through the summer months.

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

months of inventory

 

Volumeon the rise as we enter the summer selling season

Volume is getting to a healthy level and should continue to rise as we hit the summer. Higher volume is a good sign that their is depth in this housing recovery.

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

number of sales

 

Days to Sellthe sales cycle is getting shorter and shorter for homeowners. 

Sellers are benefiting from a reduced time to sell their homes in Orange County. This number should continue to trend downwards as long as their isn’t a flood of inventory to hit the market and as long as interest rates remain low. We expect this number to continue to trend downwards through the summer then start to trend up as we enter the fall and winter, which is a typical annual cycle.

days to sell

 

What all this Means to:

Sellers - great time to capitalize on an appreciating fast moving market. We have seen multiple offer situations within a few days of hitting the market in our last few listings. If you have thought about selling your entering the best time to do so especially since nobody can predict what the market will do in the fall and winter.

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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