The news for Orange County Real Estate real estate in 2017 has mostly been good. Although inventory levels are low in many markets, there has largely been enough listing and building activity, or at least conversation about future activity, to keep prices from skyrocketing toward another bubble. Low affordability has started to become a recent topic of conversation and is definitely worth watching. But with a healthy economy, level of demand and national unemployment rate, sellers are going to be hard-pressed to lower prices.
For Orange County New Listings were down 9.4% for Single Family homes but increased 6.5% for Townhouse-Condo properties. Pending Sales decreased 42.2% for Single Family homes and 36.7% for Townhouse-Condo properties.
From this time last year, the Median Sales Price was up 4.5% to $667,500 for Single Family homes and 3.6% to $430,000 for Townhouse-Condo properties. The Supply of Inventory decreased 12.9% for Single Family units and decreased 16.7% for Townhouse-Condo units.
Source: Pacific West Association of Realtors Residential activity in all PWRAOR areas of LA and Orange County CA
Image by Ralph Andersen & Associates