The summer Real Estate season in Orange County was scorching hot. Although July’s numbers were slightly lower than June, the market still boasted impressive numbers.
In July, 1,266
(-226) single family homes sold, lower than June with 1,492. The most active price range, once again, was the $200,000-249,000 range, with 250
(-18) homes sold, compared to June with 268. Second most active, once again, was the $250,000-299,000 range with 225
(-30) sales compared to June with 255.
Sales of luxury homes over 1 million were also lower, with 38
(-10) compared to June with 48. Sales of all luxury homes over $700,000 were lower than last month as well, with 92
(-17) to 109 for the previous month.
Continuing to signify an incredibly competitive market, 798 of the 1,266 homes sold were sold within 30
days, or 63%. 190 of the sales occurred between 30-59 days.
Slightly more than half(639 of 1,266) of all homes sold were sold with Conventional Financing, while FHA and Cash purchases each accounted for 19% of sales.
Although these numbers are lower than previous months, this is no cause for alarm at all, as they are slightly higher than July of last year. The interesting part is that this July, homes are selling much faster than last July. July of 2016 saw 55% of homes sold within 30 days, while this July saw 63% of homes sold within 30 days.
This is a very competitive market. Buyers need to be ready to go in with their strongest offers, immediately. Click
here, and let’s have a chat about how I can help you!
Sellers, although it is indeed a
sellers market, must make sure their agent properly prices, stages, lists, and markets their home. This is important, now more than ever. For the steps that I take to get homes sold, faster, for more, with less stress, click
here!