Like most real estate markets across the country, the Orange County real estate market has been heating up with inventory staying low and prices going up.
The first chart below is the number of new homes that have been listed every month since January. As you can see the trend has been upward with a leveling out over the past two months. With interest rates rising and the attractiveness of sellers fetching top dollar for their homes, it is very possible for the inventory to increase through the end of the year. This could easily have a downward impact on home prices is the overall economy does not improve enough.
This second chart below represents the average price of sold single family homes (including condos and townhomes) in Orange County. As demonstrated in the chart, the average home price has increased significantly every month since January.
All data for the stats were gathered from the CRMLS as of July 1, 2013. For information on specific cities please contact me direct or contact one of our Orange County real estate agents.