Orange County Housing Market Update | May 6th, 2019⠀
.⠀
.⠀
OVER THE PEAK!!!⠀
.⠀
.⠀
With a slight rise in interest rates, since dropping to 4%⠀
at the end of March, demand peaked in April this year.⠀
.⠀
Interest Rates are hovering around 4.25%⠀
.⠀
Overall demand is down about 3%⠀
.⠀
.⠀
Expected Market Time⠀
.⠀
Expected Market Time for all of Orange County increased from⠀
76 days, two weeks ago, to 81 days today…a “slight” Seller’s Market.⠀
Market Time was at about 62 days this time last year.⠀
.⠀
.⠀
For homes priced below $750k, ⠀
Expected Market Time is 58 days…⠀
A Seller’s Market! This range represents ⠀
39% of active inventory and 55% of demand.⠀
.⠀
.⠀
For homes priced between $750k and $1 million…⠀
the expected market time is 70 days…⠀
a Slight Seller’s Market.⠀
This range represents 19% of inventory and 22% of demand.⠀
.⠀
.⠀
Luxury Homes⠀
.⠀
The luxury end, all homes above $1.25 million, accounts for 33%⠀
of the inventory and only 16% of demand.⠀
Expected market time of luxury homes ranges from 108 days, ⠀
for home priced between $1.25 and $1.5 million⠀
to 425 days for homes priced over $4 million. It’s a broad range!⠀
.⠀
.⠀
These numbers are an average of Orange County…⠀
If you would like specific details on your city or neighborhood⠀
please contact us today. (949) 229-5460⠀
.⠀
.⠀
DRE: 01911411 & 01965556⠀
.⠀
.⠀
.⠀
.⠀
.⠀
.⠀
.⠀
#realtor #realtorlife #marketupdate #housingmarket #interestrates #finance #orangecounty #realestate #rsm #missionviejo #c21 #century21award⠀
#kaufmanevansgroup #buyingahome #homessale #homesforsale #openhouse #listings #offmarket #letsmakeadeal (at Century 21 Award Rancho Santa Margarita)
https://www.instagram.com/p/BxNa5IbFESs/?utm_source=ig_tumblr_share&igshid=19a9u270nahqd