October Surprise – Orange County CA Buyers Crush the Market

Lombard court, Woodbury Irvine

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.  

Orange County CA real estateSupply of homes for sale in Orange County CA has dropped 67 percent in the past 1½ years, falling last week to less than 4,000 listings.

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.

Orange County property news


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Source of some information is OCRegister.com referencing DataQuick.com.


Contact us here about listing and sale of your Orange County CA homes and real estate.


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Posted via email from Explore OC Homes

About Harrison K. Long

Professional real estate representative, Realtor, GRI, Broker associate, HomeSmart Evergreen Realty - Orange County, California - CALBRE #01410855 - Helping property owners, estate trustees, executors and administrators, fiduciaries, bankers, investor group managers, with listing and sale of properties - helping people with their best decisions about homes and real estate - Orange County Association of REALTORs (member with service on its board of directors 2012-2014); California Association of Realtors (member now serving on its board of directors); National Association of Realtors - Attorney member of the California State Bar Association #69137 - Contact by telephone or text at 949-701-2515. Thanks.
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