Posterous theme by Cory Watilo

Orange County Real Estate Market Report

Orange County Real Estate Market Report
 I have been collecting statistics for the south Orange County residential real estate since July of 2002' on a weekly basis. I’ve been charting  Months of Inventory, Active vs Pending and Price per Square Foot using our own proprietary indicators which are more time responsive and accurate compared to what is published by the traditional sources.(ie: Major Banks, Title Co's, News Periodicals).  The higher the Months of Inventory, the slower the market, and visa versa. 
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[ 1st Graph Below] - The overall Months of Inventory for All Price Ranges is rising which is an indication that the market is slowing down.  This is probably a combination of the 1st Time Homebuyer Tax Credit termination, plus the dog Days of Summer slowdown, and may possibly be the beginning of another drop in the local market values.
[2nd Graph below] - As can be seen, all Price Ranges are beginning to slow down, with the High End (Prices above %1.1Mil) as usual, being the softest at around 10 Months of Inventory.
[ 3rd Graph Below ] - This Graph shows the overall number of homes for sale (Inventory) compared to the number of homes Pending in Escrow (current Rate of Sales)…  As can be seen, Inventory of Active Homes for sale has been steadily rising since the beginning of this year, while the rate of sales (Pending in Escrow), has been steadily declining since April/May of this year
[ 4th Graph Below ] -  As I estimated over a year ago, the overall dramatic decrease in the Months of Inventory put a halt to price reductions…  prices have been holding steady for over a year now, although I suspect we may see an additional small decline in prices in the months ahead…

 

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