Happy New Year! The end of the year provided a strong finish to an incredible year in the Real Estate market here in Orange County. December saw sales increase over November, hosting 1,149(+233) over November’s 916. There were, however, a couple interesting changes.
While the most active category all year has been homes in the $200,000-$249,000 price range, this month, the $250,000-299,000 category was most active. December saw 202 (+79) sales over November’s 123 in that category. The second most active was the 200-249k category, as December’s 192 (+41) once again outperformed November, with 151 sales. The 180-199k price range also saw an increase, selling 92 (+20) in December, compared to November with 72. In the same fashion, the 160-179k price range also outpaced November’s 71 sales, as December again hosted 92(+21) sales.
Sales in every single category were up, including luxury homes. Homes over 1 million were another positive category in December, selling 25(+5) over November’s 20. Total luxury homes over $700k greatly outpaced November’s production, as December saw 72(+29) compared to 43 in the previous month.
Of those 1,149 homes sold, 545 sold within 30 days. Again, this is an improvement, percentage wise, over November (47.4% for December, 46.8 for November.)
Interestingly enough, and perhaps sending a message signaling a possible slowing of investment buying, 303, or 26.4%(-4.3%) of homes sold were paid in cash, compared to November’s 281, 30.7%. To further this notion, there was also a sharp increase in homes purchased with conventional financing. December saw 507, or 44.1% (+3.7%) homes with conventional financing, compared to November’s 370, or 40.4%.
There was a decrease in December of homes with FHA financing, as 211, or 18.4% (-2.3%) compared to November’s 190, 20.7%.
Overall, the entire year of 2015 showed a strong, vibrant Real Estate market here in Orange County, with sharp increases over 2014 figures. Last year, 13,971 (+1,960) homes sold, compared with 2014 with 12,011 sales. The most active category for 2015 also had a sharp increase, as the 200-249k range outpaced with 2,475 (+639) compared to 2014 with 1,836. Of all those homes sold, 6,551, 46.8% (+610) of them went within 30 days, compared to 2014’s 5,441, 45.3%. Again showing a possible decline in investors, cash purchases for 2015 fell short of the previous year, selling only 4,081(+126), 29.2%(-3.7%), compared to 3,955, or 32.9% for 2014.
If you are a buyer, you must understand that while interest rates are increasing, home prices are increasing, and competition as well, is increasing, your best tactic to getting your home will be making sure your offers are as strong as possible, and written correctly.
If you are a seller, WHAT ARE YOU WAITING FOR?! If you’re serious about selling, get your house ready to sell, get it on the market, at a proper price, and you will see that it will be sold, IF you are working with a professional, hardworking agent, that knows the sales process.
Call me at 407.517.8693, or email me at isellcflhomes@gmail.com, and let’s get a winning gameplan together for you!