There are many great Orange County and Coachella Valley area homes for sale. Click here to perform full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (949) 441-0701 for a FREE home buying or selling consultation to answer any of your real estate questions.
We are headed into the fourth quarter of the year, so today we wanted to give you a quick market update to get you up to speed.
Right now, we have roughly 5,000 active listings. Over the last three months, we are listing about 1,000 properties per month and selling 735. So, we are selling about 75% of the listings that are coming on the market, but what’s going on with all that extra inventory? We are adding about 267 homes per month to our inventory and as we head into the next season, we hope to continue to sell this inventory, but for now it’s a constant reminder that price is the most critical factor whether your home is going to sell or sit on the market for an extended period of time. In the desert, we are averaging about 110 days on market.
In Orange County, we have close to 8,300 homes for sale right now. Coming out of the selling season, you have about 3,800 listings taken per month and 2,900 sales per month. We are adding about 900 homes per month, but demand is very high, especially in the condo market, where purchases are up an incredible 17%.
In these uncertain times, we are still seeing condo buyers buying at an alarming rate. A condo in Orange County won’t be on the market more than 60 days on average.
As for interest rates, I predict that they are going to remain around where they are now in the coming months; there hasn’t been much to hint that they will be rising very dramatically any time soon.
If you have any questions for us or are looking to buy or sell in Southern California, give us a call or send us an email. We look forward to hearing from you!
