2012 Q3 Orange County Real Estate Market Update ~ Fridays with Fred
The 2012 Q3 Orange County real estate market update finds the real estate market in Orange County stronger than it was last year in Q3. Top Orange County realtors are excited and best of all, home buyers are riding the housing recovering wave that many people are hopeful will continue on into 2013 and beyond.
Housing Numbers Breakdown
In Q3 a total of 8,355 properties were sold in Orange County California; 8 percent of these properties were foreclosures, 24 percent were short sales and 68% were regular standard sales.
The 2012 Q3 numbers are improvements to the 2011 Q3 numbers, which were the following:
- 7,062 properties were sold
- 15 percent were foreclosures
- 24 percent were short sales
- 61 percent were standard sales
What do the 2012 Q3 numbers mean when compared with Q3 of 2011? The Orange County real estate market has seen an 18 percent increase in sales, 7 percent decrease in foreclosures, short sales stayed the same at 24 percent and we saw an increase in standard sales from 61 percent to 68 percent. Overall, these are numbers to excite every top Orange County realtor who has been waiting through the dark days of the real estate market, hoping that better times would return.
Will The Orange County Real Estate Market Continue Improving?
As of fall 2012, the Orange County real estate market is on the right track towards getting back on track to where it was before the real estate market began to crash in 2008 but many Orange County real estate agents agree that the real estate market could take another 12 to 36 months until it gets back to a level that investors and real estate experts in Orange County consider to be acceptable.
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To learn more about the 2012 Q3 Orange County real estate market and how it affects you, especially if you’re going to be a home buyer, contact the experienced team of realtors at Fred Sed & Associates by calling (949) 272-0125.