Remember the days of low inventory and fierce competition? Here's some exciting news for buyers (you can see the details in this short video
Orange County's housing market has undergone a positive shift. For a long time, limited inventory pushed prices higher as buyers competed for a small pool of homes. But that's changing!
Our current inventory sits at 3,426 homes, a significant 28% increase compared to last year. That's a whopping 951 more homes available! This rise leads to a more balanced market, offering buyers:
- More Choice: A wider variety of homes means a better chance of finding a property that perfectly suits your needs.
- More Time to Decide: Gone are the days of rushed decisions. Take your time, compare options, and find your dream home.
- Potential for Negotiation: Increased inventory can lead to more negotiation opportunities, potentially securing a better deal.
Even with more options, the expected time on market (average days to sell) remains healthy at 67 days. This is slightly higher than last year's 47 days but indicates a more balanced pace.
The recent dip in interest rates to 6.34% adds another layer of positivity, making homeownership more attainable and fueling market activity.
The takeaway? If you've been considering buying a home in Orange County, now's the perfect time! With more choices, more time, and potentially better deals, the market is primed for buyers.
Ready to embark on your homeownership journey? Contact me today for a personalized consultation and let's explore the wonderful opportunities the current market has to offer!
