With February coming to an end, we thought it would be a great time to share how the Orange County real estate market looks to date. As you have likely been reading in a our recent blog posts, our local real estate economy has been improving and million dollar home sales are on the rise. The most current data covering February homebuying shows that Orange County’s home shoppers are staying active. In fact, reseacher DataQuick’s Orange County homebuying report for the 22 business days ending February 7 shows that the median selling price for all residences in Orange County is $460,000 — up almost 18% from a year ago.
If you are worried we are closing in on 2007 inflation prices, do not despair. The $460,000 median selling price is 29% below the June 2007 peak of $645,000. But t he most recent median is 24% above the cyclical low hit in January 2009 at $370,000. As we have been saying, home prices are rising and buyers are prepared to pay higher prices. Overall, 54 of 83 Orange County zip codes had year-over-year sales gains in the last 12 months. If you are interested in buying a home in Orange County, do not delay.
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