Episode - 053: What does the Orange County real estate market look like? | Recap through December

Orange Country prices just increased for the third straight month.

The median sales price increased $10,000 from November to December to a record price of $935,000. Median price per square foot also shot up $6 to $552 price per square foot and is up $103 since last December!

The number of homes for sale decreased and inventory months supply dropped to 0.7 months. Remember 5-6 months is a balanced market and 6+ is a buyer’s market.

All in all, we are still in an extreme seller’s market. Prices tend to retreat in the winter but we just set a new record in median sales price. We expect interest rates to go up soon so although it’s very competitive, it may make sense to start looking now before the monthly payment starts to rise even more.

*percentages are comparisons year-over-year 

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

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