WHATS HAPPENING? Below is a recap of our current Orange County Real Estate marketplace. All data is based on sales ending on March 1, 2014 versus one year ago. Prices Resale Homes +17.3%, Resale Condos +18.5% and New Home Sales +15.5% Sales Volume Resale Homes -12.3%, Resale Condos -10.9% and New Home Sales +68.5% Facts Medium Price is $567,000 up from $477,000 a year ago Sales Volume is down to 2,105 versus 2,252 a year ago Average Home Payment is $2,593.68 Inventory is up 5,283 up from 5,087 just one month ago Mortgage Defaults, 378, down 14.9% versus one month ago Foreclosures, 73, down 36.5% versus one month ago Average Days on Market 2.22 months (64 days) Interest Rates 30 year fixed Mortgage rate is currently 4.37% up slightly from last week 15 year fixed rate is 3.38% up slightly from one week ago MBA reports a 1% decrease in volume versus one week ago Trends Highest price increase; Santa Ana, 92701, +85.2% versus last year 2nd Highest price increase; Newport Beach, 92660, +64.6% versus last year New home sales inventory is declining Million dollar inventory is 27.6% of all OC listings Medium home sales prices to climb NAR reports the West is down 8.1% in sales due to low inventory NAR reports the Northeast +7.1, Midwest +2% and the South +3.6%
Posted on: Tue, 18 Mar 2014 13:47:28 +0000
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