Today we’re going to talk about the 3rd quarter of 2017 and ask the question “how did the market do?”. To do this we’re going to analyze the market from July 1st to September 30th.
To do this, we’re also going to compare the growth of the market this year to 2016 and analyze how the Orange County Real Estate market is doing in terms of if sales are increasing or decreasing.
Analyzing the Orange County Real Estate Market
In Q3 2016, 8,641 homes were sold in Orange County; in Q3 of 2017, we had 8,590 homes sold. This is a decrease of .6% since 51 fewer homes were sold this year compared to last year. Ultimately this isn’t that big of a deal and it’s still a sign of positive growth in the Orange County Real Estate market.
The Market Is Sill Consistent
The positive news that we want to offer you with this Real Estate market recap is that the market is still consistent right now, year-over-year, with the number of homes sold and overall activity in our local market.
Yes, prices are still going up in most areas across Orange County, year-over-year, but sales are still consistent. This means that local Real Estate market has continued to remain strong and we expect the steady growth to continue.
What Does This Mean to You?
If you’re buying a home, now is an excellent time to buy thanks to excellent mortgage interest rates. Just make sure that your income is good and the payment is something you can afford financially, especially if you’re buying long-term for at least five to seven years.
Now is also an excellent time for sellers to be active in the Real Estate market especially if you plan on buying up, downsizing, or if you plan on cashing out altogether, you don’t want to miss your chance to sell while home values are still climbing.
Contact Fred Sed Realty
To get started with buying or selling a home in Orange County, or elsewhere in Southern California, contact Fred Sed Realty by calling us at (800) 921-9231 or connect with us online through our website.