May 2017 Orange and LA County Housing Market Update

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May 2017 Orange and LA County Housing Market Update (as compared to May 2016)

  • Closed sales up 3%;  Sales price up 10%;  Homes for sale down 5%

Anaheim Market Update:

Homes

  • New homes: -4%
  • Closed sales: -20%
  • Days on the market: -36% (34 days on average)
  •  Average property values: +9%; $636,000 → $648,000

Condos/Townhomes

  • New homes: -30%
  • Closed sales: +26%
  • Days on the market: -60% (21 days on average)
  •  Average property values: +0.2%; $414,000 → $415,000

Orange Market Update:

Homes

  • New homes: -32%
  • Closed sales: -10%
  • Days on the market: -45% (36 days on the average)
  •  Average property values: +0.1%; $753,000 → $754,000

Condos/Townhomes

  • New homes: +2.4%
  • Closed sales: +3.1%
  • Days on the market: -65% (18 days on average)
  •  Average property values: +4.2%; $423,000 → $441,000

What does this all mean?

This is a sellers market.

If you are a seller the number of homes on the market are lower and being sold faster, which means higher prices because of the competition.  You should be able to get at or above list price, if your home was priced accurately

If you are trying to buy, it would be advised to meet with a realtor to try and find those properties not on the market or so you can go to homes the moment they become available.