A summary of Orange County Real Estate. Even though our market of North Orange County varies, we are talking a few points here and there. It would be easier for me and you to give you directly a market update for Fullerton, Placentia, Brea, or whatever city you call home
The active listing inventory experienced its second largest drop of the year in the past couple of weeks, shedding 388 homes, or 7%, and now totals 4,789, the lowest level since mid-January. The inventory will continue to drop through the end of the year until it bottoms out on New Year’s Day.
There are 25% fewer homes on the market below $500,000 compared to last year at this time and demand is
Hot Markets in Orange County: Regardless of the time of year, there are areas, price ranges, and properties that are extremely hot.
The holiday market officially arrived for housing in Orange county. There are fewer and fewer homes on the market every day. The active inventory has dropped 32% since September. As a result, demand has dropped considerably as well 27%. This is the time of the year activity comes to crawl and the number of new pending deals falls o it lowest level of the year. With very limited activity now, January and February are notoriously the leanest months for closed sales.
The slow holiday market will only begin to thaw after the first few weeks of the New Year and does not really find it's legs until after the Super Bowl,