We are finding in Orange County that the lower detached homes, priced under $250,000, are being pick up faster than in the last 2 years. Out of almost 7,000 properties available in that price, less than 325 of them are detached. The ones that are priced from $250,000 to $500,000 are the second hottest market with only 27% of them being detached.
There are less properties available with an increase of homes pending. The prices have been stabilizing at bottom price range because of demand for detached homes. It is one of the best indicators that the market, may hold for awhile. For the first time in months we have seen no lowering of the prices at the bottom range.
Market time for detached homes below $250,000 is now down to 1.95 months and for $250,000 to 500,000 price is at 2.46 months on the market.
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