Demand for housing at Orange County CA continues to be positively impacted by rising employment, growing families and some people qualifying for loans after a prior foreclosure or short sale.
Orange County home selling was hot with buyers last year 2013 – which was inspired by low mortgage rates and not enough homes for sale. Result was high selling prices and short market time.
Orange County home selling has cooled since then and is stabilizing.
3,111 homes were sold last month April 2014 at Orange County – down 6.5 percent as compared with last year April 2013. However, median home selling prices were up 7.7 percent from last year (according to DataQuick).
“Since last summer, the market has been transitioning to a slower pace of sales, somewhat higher inventory and less upward pressure on prices,” said California Association of Realtors Chief Economist Leslie Appleton-Young. “Generally speaking, there’s less urgency as affordability has become more of an issue.”
Irvine continues to lead the way at Orange County CA and had 261 homes sold last month April 2014 – even though that number of sales was down 34 percent from the sizzling hot market April last year.
Orange County home buyers now see lots of homes for sale and want to pay fair market value – which is determined by recent closed sales. Buyers are willing to wait for the right home at the right price. Homes at OC continue to sell quickly when priced right.
Orange County home selling markets are stabilizing with good mortgage rates for buyers.
If you want to be a home seller at Orange County, you should consider the stabilizing market and that sellers will have more competition than last year.
Pricing your Orange County home correctly based upon recent sales in your neighborhood is a most important consideration. An experienced real estate agent will help you evaluate the market in your area to price your home to sell.
By Harrison K. Long. This is information from the Orange County Register and CRMLS multiple listing service and is for homes sold by all agents and brokers. We provide 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 with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.
Orange County Home Buying Demand Continues with Sales Moderating