Below are some interesting charts complied from the Orange County MLS.
Do these charts represent the trends of the beginning of the end of this Seller's market? We will have to wait a few more months to find out, however now is probably one of the best opportunities for Orange County homeowners to sell above market value.
As can be seen from the chart below, the number of new listings hitting the market each month has been increasing steadily since December 2012. Is this upward trend in new listings month over month going to continue? If it does continue what does it mean to sellers?
An increase in new listings each month means one thing, eventually more inventory for buyers to choose from and less money for sellers. It is a basic economic concept, supply and demand. If this trend continues and the buyer demand does not consume the available listings, the market can eventually shift to a more balanced or even a buyer's market.
Inventory has not been this low in the past 4 years in the Orange County real estate market. How much longer can the inventory continue to move downward before it increases?The only guarantee is that invenotry cannot go below zero. Historically, the stats support the theory that inventory is more likely to go up than down. If you are considering selling, now is a great time to make the move.
Orange County homeowners should contact one of our experienced real estate professionals today for a no obligation consultation to find out if selling is a good option.