Orange County November Home Values

By
Real Estate Agent with Keller Williams CA.BRE# 01395219
https://activerain.com/droplet/4Y8s

It is almost the end of the year and thankfully with the Election over the Real Estate market has picked up in Orange County.  Traditionally we do tend to see a seasonal slow down this time of year, but I believe the uncertainity of the election actually slowed down the market a bit. Since the election it has been very busy..

Below is quick look at how the OC Real Estate Market performed in November for both Single Family Homes and Attached i.e. Condo/Attached homes from the Orange County Association of Realtors

 

Orange County home values november

 

On detached Single Family Residents, the big news here was the closed sales.. As they were up over 27% in November, which pushed inventory levels down further.  Median home price continues to move up at 4.2% with the Average price of home sold in Orange County in November was $965k..

 

Orange County November Attached home values

 

As with Single Family homes, the number of homes that closed escrow for attached homes was also up by 27%.  Pricing overall was up slightly but with only 2 months of inventory available, I would anticipate we see pricing push up a little further in December.

Though we are expecting a bit of rain the next couple of days, we are blessed here in SoCal with great weather, so the only real seasonal effect we have, is sellers tend to hold off listing their home during the holidays..  

Buyer demand is still very heavy. We had 30 people through our open house last weekend and that was consistent with what other Realtors are saying.

I am not an economist, but with the mortgage rates increasing up to 4%, historically we see demand pick up.  So what does that mean for Orange County.. Low Inventory + High Demand = positve pressure on home values!

What's the value of your Orange County home

As I always say.. homes priced well, presented nicely and made available will sell in any market. Though inventory is low in the Orange County; this is still very important if you want to get top dollar for your home.   Today's buyer is very aware of the data, as well they are visually inundated with design information, from photos on the Internet, to real estate TV shows.  Buyers expect your home to be a model home.. Especially if they are paying close to $500,000 for a condo and a $1,000,000 for a house.

Search Orange County Available Homes

 

If you are considering a move in early 2017, it might worth talking a look at the market today to see if you would benefit from the tight inventory and serious home buyers that are out there.  

 

Like what you have read here, you might like these post:

The #1 Reason to sell now, not next spring

Build your families wealth over the next five years

November Home Values for Portola Hills

 

Posted by

 


Kelly's positive spirit, sound business and marketing skills, and experience negotiating multimillion dollar contracts all combine to make her one of the premier real estate professional in the communities of Portola Hills, Foothill Ranch, Lake Forest, Trabuco Canyon and throughout the Saddleback Valley.

 

 She takes a big-picture approach to make sure all of your goals, both short and long-term, are part of a larger plan that's guiding you towards success. Call Kelly to schedule a free consultation on how she can help you achieve your objectives. Whatever your Real Estate Dream is, with Kelly Turbeville at your side, It's Possible!

 

Let's Get Social!

Search Available Properties

Instant FREE Home Value Report

Connect with me:

The above information is provied for informational purposes only and is deemed reliable but not guarenteed. Based on information from California Regional Multiple Listing Service, Inc. as of [date the AOR/MLS data was obtained] and /or other sources. All property data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
California Orange County
Groups:
Investors
1st Time Buyers
The Single Home Buyer and Seller
Orange County Real Estate
Keller Williams Active Rain Bloggers
Tags:
orange county real estate
november home sales
orange county home values
oc real estate market

Spam prevention
Show All Comments
Rainmaker
4,432,583
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Anyone thinking of buying a home in your area should call you. Good luck.

Dec 15, 2016 04:44 PM #1
Rainmaker
2,917,111
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Kelly Turbeville Thanks for the helpful detailed November home values stats in Orange County.

Dec 15, 2016 04:54 PM #2
Ambassador
1,614,650
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Thanks for sharing your local real estate market reports with us today.

Dec 15, 2016 05:02 PM #3
Ambassador
4,127,017
Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Hi Kelly

Buyers and sellers will appreciate your knowledge of the housing market in Orange County. Anyone thinking of buying or selling in OC should be in touch for further explanation for what this means for their decision making, but also to get your expert help.

Jeff

Dec 15, 2016 05:19 PM #4
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
138,471

Kelly Turbeville

Turning Real Estate Dreams into Reality
Do you have a question about Lake Forest Real Estate?
*
*
*
*
Spam prevention

Additional Information