Wondering how the overall Real Estate Market is doing in Orange County.. Well it;s mid-October and the only thing "falling" in the Orange County real estate market is the number of days it takes to get a home sold.. Typically we see in September the market become seasonally quiet but that isn't the case this fall. Last week my open house had over 15 groups of guest come through on Sunday...
Below is quick look at the how the market performed in September for the whole county from the Orange County Association of Realtors.
Looking at pricing from September of 2015 we saw a stable increase of just under 4% in the median price for single family homes. The median price of single family home in The OC was $742,250 in September.
Below is a quick look at how the Condo/Townhome market performed in September.
With the median price of a condo/townhome in Orange County at $445k, we are seeing a bit more appreciation in this category.. Inventory is the biggest factor, though we saw a slight increase in new listings overall inventory is still below 3 months. Demand for homes priced under $500k is crazy.. Are you listening Condo/Townhome owners.. Opportunity is knocking..
If homes are sitting on the market it is only because something in their selling strategy isn't working. Whether that be price, condition, availability or even competition. It is not due to the lack of buyer demand.
If you are considering a move in the near future, now is great time.. The number of listings that come on the market this time of year is typically lower. With the high demand we still have that means your home, if priced correctly, presented well and available will sell for top dollar!
Like how we look the numbers... let's sit down and review your home and develop a strategy to meet your home selling goals.