The summer season is starting to wind down here in Orange
County.
Following the typical pattern, June’s 1,350 sales outpaced
July, with 1,249(-102) residential single family
homes sold. Of those, the most active
price range was once again the $200,000-249,900, with 231(-25) for July, compared with 256 for June. The $250,000-299,900 range was second most
active, with 216(-7) for July to 223 for
June. In typical fashion, the higher
price range preferred 4 bedroom homes(129 of the 216) and the lower more active
range included more 3 bedrooms(130 of 231.)
Sales of luxury homes over $1 million also took a tumble, as
24(-14) homes sold, compared to 38 for
June. Total sales of all luxury homes
over $700,000 were also down for July, with 66(-29) sales compared to 95 for June.
Of all homes sold, 696, or 55.8% sold within 30 days, down (-0.8%) from June with 764 (56.6%).
Cash purchases saw a slight increase, as 287, 23%(+1.6%)
homes were purchased with cash, higher than June, which saw 289, 21.4% homes
sold with cash. Homes sold with
conventional financing were close, percentagewise, both months, as July’s 565,
45.3% (-.3%) was only slightly lower than June’s
619, 45.6%. Homes purchased with FHA
financing saw a slight dip in July, with 229, 18.3% (-3.3%) compared to June’s 291, 21.6%.
Homes with VA financing was about the same, with 68, 5.5%(+.7%) for
July, and 65, 4.8% for June.
Time to panic?
Absolutely not. June is normally
much busier than July, as parents typically choose to move residences in June,
to have time to adjust prior to starting school. Cash purchases rising 1.6% continue to show a
strong, vibrant market, both for investors and residential buyers.
Ready to buy? Your
offers should be strong, and down-payments should be as attractive as possible.
Ready to sell? Again,
almost 56% of homes selling within 30 days, your home should be priced, staged,
manicured, all to sell!
Ready to invest? This
is the perfect market.
Call me at 407.517.8693, or email me at isellcflhomes@gmail.com, and let’s
chat!