Orange County Real Estate Market Recap – First Half Of 2017
If we look at the first half of 2017 in terms of a number of homes sold, based on the stats that we have today we know that there were 15,660 homes that closed between January and June of 2017.
Between January and June of 2016 there were 15,219 homes that sold. This means that in 2017 we had 441 more properties sold, year-over-year, a 2.9% increase in sales.
Solid Growth for The Orange County Real Estate Market
As one of Orange County’s top Real Estate firms, it’s our job to know where the Real Estate market was, where it currently is, and where it’s going.
Thankfully, the Orange County Real Estate market remains strong in 2017 in spite of issues like low home inventory, economic or political instability in the United States.
The local Real Estate market also remains strong in spite of a huge demand for local Real Estate and more qualified home buyers who have done their due diligence to get pre-approved for mortgage loans before starting their home searches.
How Much Longer Will the Growth Continue
Many analysts predict that Southern California home prices, especially those in Orange County, will continue increasing for at least another two years.
Home prices are predicted to appreciate in the Orange County area by 5 to 6 percent alone during 2017 while home prices are predicted to appreciate in other areas of Southern California by as much as 8 percent this year.
Still A Great Time to Buy or Sell a Home in Orange County, CA
Right now, is an excellent time if you’re looking to buy a piece of Real Estate in Southern California, sell your home, or rent out your home.
Work with the most experienced team of Realtor’s in Southern California by contact Fred Sed Realty today by calling us at (800) 921-9231 or connect with us online.