Positive Orange County Housing Market Good For San Clemente

By
Services for Real Estate Pros with EVO Interactive

The housing market in Orange County is looking to pick up speed as home prices are expected to continue increasing. All primary real estate indicators for Orange County are predicted to rise in 2017. The major indicators are home prices and home sales. Both look to see a small boost. While the pace for their rise may be slower than previous years, all homes prices and homes sales are poised to see improvement.

Homes prices in Orange County are predicted to rise 2.5 to 6 percent. California, in general, is expected to experience a 3.2 percent rise. And for comparison, homes in the U.S. are predicted to see a 5 percent increase. These prognostications place the Orange County home market near the top, not just in the state, but in the nation for price increases. This is great news for Orange County homeowners who suffered dramatically in the previous housing crisis.

Homes sales in Orange County are also predicted to be among the best in the state and nation. California is expected to see around a 6.3 percent increase which is staggeringly good. A lot of the rise in prices has a lot to do with the inventory of properties for sale. That inventory in Orange County and California is already below ordinary levels. This fuels competition between buyers who are putting in offers for the same properties.

The San Clemente market is in position to benefit from all of these positive housing indicators. Even though recent market trends in San Clemente show a small 1% decrease in the average home price over the past year, that housing market is still very strong. A survey of San Clemente homes shows that the median home price for properties in San Clemente hovers around $1,000,000 the fact that the market is able to hold steady is very good news.

San Clemente is one of the few remaining real Southern California beach towns. A resident can still live that old beach lifestyle. With a population of over 65,000 people, San Clemente offers the amenities of a big town, but manages to maintain a beach town feel. Many of the residents own a surfboard and local surfers regularly take advantage of the excellent surf available nearby from Trestles to T Street. With most of the demand for Orange County housing being in high-density entertainment and employment areas, beach towns like San Clemente offer a refreshing change from the hustle and bustle.

This doesn't change that housing prices are high overall across Orange County. This may be the only real negative about the Orange County housing market. These high prices can be prohibitive for homebuyers. Affordability is a real issue. High prices make down payments more difficult, result in higher property taxes, and put the purchase of a home out of reach for the majority of first-time homebuyers.

Comments (1)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

A positive outlook is what we need right now and pretty much all the time within the general area.

Mar 23, 2017 09:46 PM