October saw a bounce back to regular form after the Hurricane affected September for Real Estate in Orange County.
Back to regular form, October saw 1,026(+119) sales, higher than September with 907. The most active category once again came back to the normal trend with the $200-249k range selling 197(+41), higher than the 156 for September. Second most active
was the $250-299k range, with 187(+17) sales, also higher than September with 171.
Luxury homes over $1 million saw 32
(-1) sales, slightly less than September with 33, however, sales of all luxury homes over $700,000 saw an increase from 64 in September to 77(+13) in October.
Continuing to signal an incredibly hot market, 546, or 53% of homes sold within 30 days. 198 homes sold within 31-60 days, and 110, or 11% sold within 60-90 days.
Signaling a strong mortgage market, 507, or 49% of homes sold were financed with conventional financing. 166, or 16% went with FHA financing, and 221(22%) were paid in cash.
As September was slower, due to back to school and the hurricane, it is a welcomed return to the norm for the industry.
It is still a highly competitive market, with little margin for error on buyer’s side. If you’re looking for your next home, click
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For sellers, it's important that your home is marketed and staged properly. Are you wondering how much your home is worth? Click
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