The housing market in Orange County, California is a complex one. Despite the current market challenges, home values remain strong and in line with the national trend. However, there is a lack of homes for sale, which is driving greater competition among buyers and causing an oversupply of properties. On average, homes sell for 3.2% less than the list price in Orange County.
The competition for homes in Orange County is not only between buyers, but also between companies, both big and small, that invest in properties in the area. This has caused home prices to rise, which is often a sign of a seller's market. To make it easier to access this information, we have created a website dedicated to real estate data for all cities in Orange County and are also working on specific areas. At the end of July, there were a large number of active ads in Orange County and a slight increase in closed sales. Homes that sold below sale prices increased by 10.7% in Los Angeles and Orange Counties and by 10.3% in Riverside and San Bernardino Counties. Ultimately, whether now is the right time to buy a home in Orange County depends on each buyer's individual situation, preferences and financial position.
To help make an informed decision, it is important to research the current market trends and understand what is happening in the area.