Episode - 002: What does the Orange County real estate market look like? | December 2020

Just like LA County, Orange County real estate market is cooling off.

Total closed volume dropped almost $2 billion dollars but is still up 30.8% compared to November 2019.

Median Sales Price decreased $5,000 since last month but is still up 9.8%.

Active listings increased and is now down only 12.9% after being down over 22% earlier in the year.

Months supply increased from 2.1 in October to 2.3 months in November.

Seasonality plays a huge role in the real estate market. Typically late spring and early summer are the hottest months meanwhile winter is when things slow down. Due to the pandemic, we had a delayed slowing in the real estate market, but it seems like we are trending towards another slow month in December.

*percentages are comparisons year-over-year 

For more details and charts, click: https://theluevanosgroup.com/market-trends