Real estate trends are constantly evolving, which is why we at Surterre Properties® keep our finger on the pulse of the most current industry data. So what’s been going on in Orange County’s housing market over the last two weeks? Read on for the latest highlights.
- Inventory is up 6% — the highest it’s been since January.
- Demand decreased by 5%, according to the number of pending sales — the lowest level since February.
- Expected time on market increased from 25 to 27 days — the highest number since February.
- It’s a hot seller’s market for homes priced up to $1.5 million based on expected market time.
- Luxury homes priced above $1.5 million make up 34% of inventory and 16% of demand.
- Sales to list price ratio was 101.4% for all of Orange County — great news if you’re a prospective seller.
Navigating this competitive marketplace can be overwhelming, but having an experienced real estate professional by your side makes the home buying or selling process virtually stress-free. Contact your local Surterre agent today to get started or to learn more about the future of Orange County’s housing market.
Source: The Orange County Housing Report by Steven Thomas, 07/12/21
