The average cost of a home for sale per square foot in Orange County is on the rise. With the current economic risks looming due to increasing interest rates and stock market volatility, the housing market trends remain upward. This means that prices tend to be higher and homes sell faster in this seller's market. A major challenge in the Orange County housing market continues to be low inventory levels, which are driving greater competition among buyers and causing an oversupply of properties.
This article explains how buyers compete against companies, large and small, that invest in Orange County properties. The information provided is for the personal, non-commercial use of a viewer with a genuine interest in buying or selling real estate of the type offered through this website or other electronic means. All real estate content on this site is subject to the Federal Fair Housing Act of 1968, as amended, which prohibits advertising any preference, limitation, or discrimination based on race, color, religion, sex, disability, family status, or national origin or the intention to make such preference, limitation, or discrimination. Rocket Homes Real Estate LLC is committed to ensuring digital accessibility for people with disabilities.
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We will be closely monitoring these trends to see if the housing market shows signs of slowing down due to inflation and high mortgage rates. The Orange County housing market is highly competitive due to its low inventory levels. Buyers must be prepared to act quickly when they find a property they like as there are often multiple offers on each property. Companies that invest in Orange County properties also add to the competition as they often have more resources than individual buyers. It is important for buyers to understand how these companies operate so they can make informed decisions when competing against them. When looking at homes for sale in Orange County it is important to consider all factors that could affect the price of a home.
Location is one of the most important factors as homes located in desirable areas tend to be more expensive than those located in less desirable areas. The size of a home also affects its price as larger homes tend to cost more per square foot than smaller homes. Additionally, amenities such as pools and updated kitchens can increase a home's value. The average cost of a home in Orange County varies depending on location and size but generally ranges from $500-$700 per square foot. This means that a 1,500 square foot home could cost anywhere from $750,000-$1 million depending on its location and amenities.
It is important for buyers to research current market trends before making an offer on a home so they can make sure they are getting a fair price.