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August 2013 Orange CA Real Estate Market Report
ORANGE CA REAL ESTATE LISTINGS INCREASE BY DOUBLE DIGITS
Real estate listings increased nearly 12% between July and August 2013, and year over year, the number of homes for sale in Orange, California jumped 26.9%. Although listings have crept up to their highest level since May of last year, the market is still out of balance, with far more potential buyers than sellers. Due to the continued low inventory, home prices have risen slightly throughout the majority or Orange and Orange Park Acres.
As expected, pending home sales fell 17.4% month over month in Orange, and by more than 45% when compared to August of last year. Once again, this is the result of the reduced inventory of homes for sale in Orange, California, and we will most likely see further declines in the coming months.
Orange real estate sales increased 14.7% on a month to month basis, and by 5.6%, as compared to August of the previous year. Based on the recent jumps in active listings and pending sales in Orange, we should these figures rise in coming months. In August 2013, the majority of real estate sales in Orange, California closed at or above the original list price. ... more

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