Podcast - 073: Orange County real estate market update | Recap through April 2022

In this podcast, Realtor Anthony Luevanos and lender Angel Luevanos break down the Orange County market.

Home prices in Orange County increased for the seventh straight month despite increasing interest rates.

The median sales price increased from $1,025,000 in March to $1,062,500 in April. In the last 12 months, the median sales price is up $172,500 and 19.4%.

The median price per square foot also increased to $628. Since last April, the median price per square foot jumped $130 and 26.1%.

The number of homes for sale has increased slightly but is still down 15.2% since last year.

Inventory months supply increased to just 1.3 months. Remember 5-6 months is a balanced market, and 6+ is a buyers market.

Median days on the market remained just seven days, the fastest on record.

Overall, the Orange County real estate market is as competitive as it gets for buyers. However, as interest rates increase, it’ll be interesting to see if buyer demand waivers or if home appreciation starts to slow down finally.

*percentages are comparisons year-over-year 

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