Orange County Market Report

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Orange County Real Estate

Property Sales

August property sales were 41, up from 25 in August of 2016 and 46.4% higher than the 28 sales last month. August 2017 sales were at their highest level compared to August of 2016 and 2015. August YTD sales of 283 are running 16.0% ahead of last year’s year-to-date sales of 244.

Prices

The median sales price in August was $570,000, up 0.9% from $565,000 in August of 2016 and down -0.9% from $575,000 last month. The average sales price in August was $643,207, down -1.7% from $654,236 in August of 2016 and up 5.9% from $607,518 last month. August 2017 ASP was at the lowest level compared to August of 2016 and 2015.

Inventory & MSI

The total inventory of properties available for sale as of August was 111, down -0.9% from 112 last month and down -28.8% from 156 in August of last year. August 2017 Inventory was at the lowest level compared to August of 2016 and 2015.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The August 2017 MSI of 2.7 months was at its lowest level compared with August of 2016 and 2015.

Market Time

The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer’s market, a downward trend a move towards more of a seller’s market. The DOM for August was 28, equal to 28 days last month and down from 47 days in August of last year. The August 2017 DOM was at its lowest level compared with August of 2016 and 2015.

Selling Price Per Square Foot

The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the ‘mix’ of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The August 2017 selling price per square foot of $391 was up 2.9% from $380 last month and up 4.0% from $376 in August of last year.

Selling Price vs Listing Price

The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer’s market exists, a ratio at or above 100% indicates more of a seller’s market. The August 2017 selling price vs list price of 98.4% was down from 99.1% last month and equal to 98.4% in August of last year.

Inventory / New Listings / Sales

This last view of the market combines monthly inventory of properties for sale along with new listings and sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of new listings in August 2017 was 45, down -22.4% from 58 last month and down -29.7% from 64 in August of last year.

 

 

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Based on information from California Real Estate Technology Services, Inc. for the period 1/1/2005 through 8/31/2017. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS’s may not reflect all real estate activity in the market. This information will expire 30 days from when it was generated.

 

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