Orange County home sellers will find market conditions perfect for selling now (January to February 2017).
With such hot housing market conditions, there is no need to wait until Spring to list and sell your home.
Orange County has very low number of homes for sale and solid market buyer demand at the same time.
If you are a homeowner who wants to sell, don’t wait until the “Spring Market”.
Conditions are best now for home selling – during February 2017.
Homes that are priced below $1.5 million are in a HOT market, and the market is also hot where prices are below $750,000.
Why are the home selling conditions so favorable compared to the last few years? Current buyer demand is strong, and the active inventory is at anemic low levels. Compared to last year, there are 11% fewer homes on the market now, and 19% fewer than 2015. Market demand (new pending sales over the prior month) is very similar to 2016.
The expected market time (the time it would theoretically take to list a home today and then place it into escrow) dropped from 84 days two weeks ago to 67 days on January 29 – because supply of homes for sale dropped slightly while demand (new pending sales) were up.
What keeps buyer demand from being even higher today is the lack of homes for sale inventory. Sellers who opt to sell now and don’t wait until spring are taking advantage of a ripe market.
Home sellers should work with an experienced and qualified Realtor agent who will negotiate for your best interest.
Carefully pricing by seller will result in selling at or above the asking price.
But pricing the home too high will result in wasting valuable market time, which is the first 3 weeks after coming on the market.
For those who opt to “wait until the spring,” there will probably be more buyers looking to purchase, but there will also be a big increase in number of sellers.
Increased buyer demand usually is followed by increased supply and more homes for sale.
By Harrison K. Long, Professional real estate representative and REALTOR®, HomeSmart Evergreen Realty. Recently honored as “REALTOR® of the Year 2016” by the Orange County Association of REALTORs®. Representing sellers, buyers and investors. Real estate broker CALBRE #01410855. Currently serving as an appointed director at the California Association of REALTORs®.
“Orange County CA Home Selling Market Conditions Are Perfect”