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Orange County Real Estate Market & Home Values - Feb 2017
The numbers are out and it is clear the Orange County real estate market is on fire! Fire, what does that mean, in terms of sales and values for the county? We have reviewed the most recent numbers out from the Orange County Association of Realtors and below is our take on the real estate market.
Highlights: The median price of a single family detached home in Orange County is $755,000 and this is up 5.6% from February 2016. Inventory of available homes is down just about 6% with less homes coming on the market. Currently there is less then 3 months of inventory available in the OC. The median price of a attached home in Orange County is $450,000 and is up 5.3% from February 2016. Inventory of available condo/townhomes is down almost 14% with only two months of inventory available for home buyers. So what does this mean.. If you are a home owner thinking of selling this spring, we should chat. With the low inventory and high buyer demand, your home is a sought after commodity... As the spring market warms up, we generally see more homes come on the market that will add competition to it. However, we shouldn't forget today's home ... more
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