Orange County Median Home Price | Housing Prices in Orange County
Have you heard the news?
As of April this year, the median home price in Orange County reached $1 million, making it the first Southern California county to hit that price point.
What’s driving the rapid increase in housing prices?
1. Historically low inventory (00:49)
2. Properties were bought up by investors (01:15)
3. Low interest rates (01:29)
How does this affect you?
Higher interest rates are cooling off demand and housing is becoming a little more reasonable. As inventory increases, buyers have more options to choose from but have to stay on budget because of that higher payment.
If you are a seller, we are, historically speaking, still dealing with very low supply - operating at 30% to 40% of what would normally be on the market. With buyers still searching for homes, it is still a great time to sell a home, but it is very important to price your home correctly.
If you have any questions about how to prepare your home to sell or what it takes to sell a home in today’s market, feel free to text me at (949) 212-1433 or schedule a call with me through this link, https://calendly.com/ryanschramm.
Want an updated valuation of your property? Visit this link for a free report on your home, http://schomevaluation.com/.