Orange County CA Home Selling Moderating Towards Value and Price
Orange County CA home selling reached its zenith last year during March 2013 – when the number of homes for sale listings was close to an all-time low – at the same time when mortgage rates on 30-year fixed loans were near an an all-time low.
Qualified buyers wanted to avoid missed opportunity during that time and were especially aggressive to get homes under contract.
So during March and April 2013, many Orange County home sellers listed their homes for sale, received multiple offers, and got them in escrow with highest imaginable price in less than thirty days.
Orange County home selling market conditions have changed significantly since 2013 – with buyer demand moderating and taking more time on the market to get buyers and finish sales.
Orange County still has motivated home buyers who are more careful about value and pricing than last year.
Here are examples of Orange County cities with number of homes for sale, those now in “pending” and under purchase contract, number of solds and average selling prices this year.
Irvine – is the top home selling market area at Orange County
- 438 homes now listed for sale
- average list price over $1.3 million
- Irvine has 292 homes now pending under purchase contract.
- Sold 255 homes so far this year first two months of 2014.
- Average sold price at Irvine so far this year is $805,786.
- 301 homes now listed for sale
- average list price of $976,549
- Huntington beach has 223 homes now pending under purchase contract.
- Sold 205 homes so far this year first two months of 2014.
- Average sold price so far this year of $912,147.
- 273 homes now listed for sale
- average list price more than $3 million
- Newport Beach has 93 homes now pending under purchase contract.
- Sold 94 homes so far during first two months of 2014
- average sold price so far this year of $1,648,000.
- 120 homes listed for sale
- average list price of $744,000
- Costa Mesa has 107 homes now pending under purchase contract.
- Sold 86 homes so far this year during first two months of 2014
- average sold price so far this year of $647,284.
Orange County home buyers are looking for good prices and value more during these times.
With such great difference between average listing price in some cities and areas of Orange County, home sellers need to use comparative market value sold information more now as top criteria for pricing when listing homes for sale.
By Harrison K. Long. Source of some information is CRMLS and is for homes listed and sold by all brokers and agents.
Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA. Connect with us at 949-854-7747 with your questions about home value and pricing at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.