January Orange County Real Estate Market On Property Up To 600k
February 22, 2011 by Ryan Davison · 2 Comments
Housing numbers for January have just come out, lets take a look at them now.
For sale is up 5.3% sold is down 26.8% month over month. Now sold means that the property could have been in escrow for 30-90 days or longer and just so happen to sell in January. The more accurate stat to look at is Pended, because this is property that went into escrow in the month of January. Pended is up 30.9%. The median price sits at $350,000, the same as December. Days on market is at 88. Sellers are getting about 93% of there original list price.
As far as values, this segment of the market is holding pretty steady.
Bottom line: If you find a house that you love in a neighborhood you want, jump on it. Even though reports are saying prices are going to be coming down a little bit more, interest rates are on the rise. A 1% increase in interest rates means a 10% drop in purchasing power.
Related articles
- Real Estate – From Contract to Close of Escrow (raincityguide.com)
- Santa Ana has O.C.’s fastest-selling homes (lansner.ocregister.com)
