How’s The Market Show
Below is a Core-Logic recap of our current Orange County Real Estate Marketplace for the 22 business days ending July 24th 2018. Source; OC Register, 8/19/2018.
Resale Homes +5.2%, Resale Condos +4.9% and New Home Sales +18.5
All totaled, OC home values are up +5.8% versus last year
Median OC home price is $735,000 up versus one year ago
$1,000,000 plus homes represent 40.5% of all OC listings
Resale Homes -9.0%, Resale Condos -7.5% and New Home Sales +18.7%
All totaled, OC sales volume is down -6.2% versus last year
Home sales volume is 3,477 down slightly versus one year ago
Inventory is at 6,893 up slightly from one month ago
OC Average days on market; 84 days (59 days just 1 year ago)
30-year fixed Mortgage rate is 4.53%, down versus one week ago
15-year fixed rate is 4.01%, down versus one week ago
Average Home Payment is $3,534.037 up versus one year ago
ARM’s represent 19.8% of all mortgages
Did you Know?
US home ownership is at 64.3% (up versus last year)
California home ownership is 54.3% (up versus last year)
OC/LA home ownership is 48.8% (down versus last year)
Riverside/San Bernardino home ownership is 60.1% (down vs last year)
California led the nation in 2017 with lowest vacancy rate at 8.3%
There were 37,881 homes sold in Orange County in 2017
It takes a $169,850 a year income to buy an OC median priced home?
614 homes sell every hour in the United States!
California median home price is $536,250
OC median home price is $735,000
LA median home price is $616,000
Ventura median home price is $615,000
San Diego median home price is $577,000
Riverside median home price is $381,000
San Bernardino median home price is $336,000
Millennials represent the largest homebuying audience
OC Rental prices average $1,939 a month! +29% versus 2010
LA Rental prices average $1,940 a month! +39% versus 2010
IE Rental prices average $1,334 a month! +29% versus 2010
OC home prices have risen 6 consecutive years
OC Has 8 zip codes in the top 100 for priciest homes sales in the Nation!
Only 1.19% of all OC properties currently listed as distressed
Only 21% of all OC earners can purchase a home
Chapman University forecasts a 5.6% price increase for OC in 2018
Fullerton University forecasts a 5.6% price increase for OC in 2018
Metro-study and other research companies forecast a 3.2% in OC for 2018
If you find the above information useful, then you will like how I can use data to help uncover areas of opportunity to buy and sell real estate in Orange County.