Interested in what the Orange County real estate market looks like? Well, for starters, things are looking up. If you were waiting around, hoping to snatch a steal from the brink of foreclosure, it looks like you waited too long. The banks have started to handle distressed properties in Orange County (foreclosures and short sales) at a slow but steady pace. In other words, the distressed home inventory has not been this low since June 2007. In Orange County, just 15% of the total active inventory and 39% of demand are short sales and foreclosures. This is a huge drop from last year, when distressed properties represented 34% of the inventory and 51% of demand.
Here’s a glimpse into Orange County’s current real estate market:
|All O.C.||Distressed||All||Pct. Distress|
|By type of distress||Pendings||Listed||Time (months)|
|O.C. short sales||1,130||563||0.50|
|By home type||Distressed||All||Pct. Distress|
|By price slice||Distressed||All||Pct. Distress|
|O.C. $ 0-$ 250k||140||572||24.5%|
|O.C. $ 250-$ 500k||333||1,148||29.0%|
|O.C. $ 500k-$ 750k||147||1,081||13.6%|
|O.C. $ 750k-$ 1m||44||653||6.7%|
|O.C. $ 1m-$ 1.5m||33||502||6.6%|
|O.C. $ 1.5m-$ 2m||5||287||1.7%|
|O.C. $ 2m-4m||9||436||2.1%|
|O.C. $ 4m+||2||244||0.8%|
|By city/High share||Distressed||All||Pct. Distress|
|Rancho Santa Marg.||18||47||38.3%|
|By city/Low share||Distressed||All||Pct. Distress|
|Corona Del Mar||2||103||1.9%|
An experienced Orange County realtor like Cheryl Marquis knows the market and can still find you a great deal. Interested in buying or selling your Orange County home? Call Cheryl today.
Cheryl Marquis has been an active and successful real estate agent in South Orange County, California for more than 25 years. As a TOP PRODUCER in her company, Cheryl has received the specific accreditation of a Certified Relocation Specialist (CRS) and Accredited Buyers Agent (ABR) and is a member of the Who’s Who of Luxury Real Estate, a select network of the world’s leading luxury home agents. Cheryl is a member of C.A.R. (California Association of Realtors), N.A.R. (National Association of Realtors) and O.C.A.R. (Orange County Association of Realtors). To talk to Cheryl about buying or selling a home in Orange County, call her at 949.683.1501 or visit her online at www.CherylSellsOC.com.