Orange County Real Estate Report October 2013

Orange County Real Estate – Prices stay flat as the seasonal slow down continues 

Active Inventory  -continues to drop

This drop is as expected for this time of year, so no surprise here.

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

Orange County Real Estate Active Listings

Sales Prices - continues to level off

The appreciation we had earlier this year has stopped for now as home prices have leveled off a trend we expect to continue through out the rest of the year. Buyers are no longer willing to pay high appreciation percentages on a month over month basis.

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

Orange County Real Estate Prices

Months of Inventory - continues to climb as we enter the fourth quarter

Continues to rise as volume continues to decline. This metric gives you a basis to calculate how long it should take your home to sell. Right now we are still in a neutral market, if this number rises much higher we may enter a buyer’s market so sellers need to be prepared for that possibility.

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

Orange County Real Estate Months

Volume - the drop off continues

Volume dropped to the third lowest figure in the past 12 months as back to school and the end of summer absorbed a lot of potential buyers time. The fact volume is down slightly from the same month last year is something to pay attention to in the coming months.

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

Orange County Real Estate Volume

Days to Sell - the upward trend continues. 

The rise has been gradual but you can feel it in the movement of the market. As this number continues to rise, as we expect it to for the rest of the year, sellers need to be prepared to wait a bit longer to successfully close on their home.

Orange County Real Estate days to sell

What all this Means to:

Sellers - based on the data we are fully in a neutral market now. We expect this to continue through the end of the year so prices should remain stable and the length of time it takes to sell a home should gradually increase as we progress through the winter months. Sellers can counter the market trends a bit by pricing their home better than the competition, making their home easier to see, and with proper marketing of their home.

Buyers - this is a great time to be a buyer and it will continue to be so unless rates rise, which is very likely. So if you are thinking about buying do so now. If you a move up buyer realize your going to make your money on your purchase more than on your sale so focus on getting the right home at the right price and price your home to sell quicker.

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

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Orange County Real Estate Report October 2013
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The latest Orange County real estate report including charts and graphs showing the effects of the new neutral market we have entered and how you can best react to it.
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949hometeam

Providing the highest level of personal service in South Orange County Real Estate. Helping buyers and sellers in the 949 since 1999! Google

Posted in OC real estate
One comment on “Orange County Real Estate Report October 2013
  1. Your content is good and contains tons of great information.
    Your perception on this topic is interesting, profound and different.
    I agree with a lot in this article.
    Thank you.

    Dan Statlander

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