3 out of 4 Orange County CA homes listed for sale went into escrow last month during October 2012 – and many more for sale listings are needed to meet growing buyer demand.
Buyers seeing value in moderated home prices and low interest rates have caused average market time for OC homes to be amazingly fast.
Orange County CA experienced in October the largest housing market rebound since 2006. Home selling prices hit a four-year high – Median sold price reached $455,000, a 12.3 percent increase over October last year.
Home buyers completed 3,148 purchases during October 2012 – up 40.5 percent vs October of 2011 and the largest volume of October sales in seven years.
Low interest rates, pent-up buyer demand, and consumer perception that the market has stabilized all played a role in this booming market.
Investor buyers picked up 22 percent of the Orange County transactions during October, while 30 percent of buyers paid all cash for properties.
Buyers continue to crush the Orange County CA real estate market.
With home sale numbers escalating and number of listings inventory down to lowest point in the past eight years, we need more sellers for continued real estate market vigor.
Source of some information is OCRegister.com referencing DataQuick.com.
Professional REALTOR® agent representation – help for property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.