Orange County Real Estate Market Data For April 2015
Check out Prominent Escrow’s infograph of April 2015 data showcasing the current Orange County Real Estate Market.
It’s a great time to sell in Orange County. Steve Thomas of Reports on Housing states, “The Orange County housing market is currently hot and favors sellers.” A total of 2,225 single family homes sold in Orange County this past April with a median selling price of $675,000 (up 5.5 percent compared to the median selling price of single family homes sold in April of 2014).
While rental prices in Orange County continue to rise, more homebuyers are entering the real estate market for the first time. They quickly discover how competitive the market is due to the current supply of homes being too low to meet the demand. Homes in Orange County are selling at a rate that is the fifth fastest in the united states. In fact, 59 percent of homes in Orange County sell within two months. In comparison, only 40 percent of homes nationwide sell within that time frame. Homes priced between $250-500K are flying off the shelves and are expected to be on the market in average of 47 days.
The real estate market in Orange County is HOT!