OC Housing Report: Last Call

by Julie Wright on June 26, 2019

We like to keep our clients updated on the CURRENT REAL ESTATE MARKET IN ORANGE COUNTY.  Our experience is vast with 60+ combined years in the Real Estate industry, WE ARE THE AREA EXPERTS!!!

If you currently own a home in Orange County or looking to make an investment this year, being clear on where the current Real Estate market is can make all the difference in your decisions.

Below is a summary of the current OC Housing Report…

Last Call

In order for sellers to cash in on the most lucrative time to sell a home during the year, they better open up escrow soon.  This is also the time of year when many sellers come on the market thinking they have ample amount of time to market their home to take advantage of the Summer Market, but that simply is not the case.

Housing has downshifted from the best time of the year to sell, the spring, to the second-best time of the year, summer.  Once school starts, it is just too disruptive for a family to move, so buyers want to close escrow by the end of August.

What does this mean for sellers?

Pricing a home correctly is absolutely fundamental to cash in on the housing market and find success. Starting off overpriced means that sellers will have to reduce their asking price to be successful and in order to cash in on the most lucrative time to sell, they better open up escrow soon!

What does this mean for buyers?

With the drop-in interest rates, this is good news for any buyer struggling to afford a home in the current market. Along with the high level of active inventory, the Expected Market time increasing and few multiple offer situations, buyers have more choices with active listings and lower interest rates.

What about the Luxury Market?

The luxury market has actually improved slightly in the past couple of weeks with a 4% increase of pending sales. Extra seller competition and muted demand in the luxury ranges in 2019 is a trend that has endured. The Expected Market Time ranges from 92-118 for homes priced $1m-$1.5m, a slight drop, but still quite sluggish.

 

To view the full report, please email us at Info@HelpUSellWright.com 

If you’re thinking of selling your home, please give us a call to schedule a consultation for a free property evaluation, Full Service… Save Thousands…Experts Next Door!!!

 

If you’re interested in purchasing, this is a great time! With lower interest rates and increased inventory, you can enjoy all the benefits of owning your own home!!! Give us a call at 949-770-9888 and we can schedule a free consultation.

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