April OC Real Estate Market On Homes Up To 600k

May 25, 2010 by Ryan Davison · Leave a Comment

The real estate market in Orange County for homes up to $600,000 was very strong for the month of April. As you can see by the graph below, for sale, and pended are all up month over month, however sold is down 7.4%. Days on market is at 76 which is on the high side by only a week, dating back 15 months. This is because the houses that are for sale have gone up 5.5%. The average price per Sq. Ft is $260, $3 higher then last month and the highest it has been dating back 15 months. Pended ( property that actually sold in that month) is also the highest it has been in the last 15 months. The average active price is $364 the highest it has been in the last 15 months, 2$ higher then last month. Sellers are getting about 97% of their original list price!

If you are a buyer in this price range you only have about 3% negotiation room. Also a lot of times there will be multiple offers on a house and sometimes for more then the asking price. Be patient you may have to write a couple of offers until you get what you want.

When it comes time to write the offer make sure you have everything you need to make a strong offer. Bank statements, credit score, pre-qualification or pre- approval letter, and any special requests the selling agent may have.

FYI: This is the whole Orange County area, each area is different, please contact me if you would like me to run a report on a specific area.

	1 month			1 year			15 months
	Mar 10	Apr 10	% Change	Apr 09	Apr 10	% Change	Feb 09	Apr 10	% Change
For Sale	4824	5089	5.5%	5309	5089	-4.1%	7928	5089	-35.8%
Sold	1813	1678	-7.4%	1804	1678	-7%	1382	1678	21.4%
Pended	2637	3113	18.1%	2309	3113	34.8%	1763	3113	76.6%