Orange County Housing Market Up

There are many signs from the February housing reports the Orange County market is up and may have turned around. All areas showed an up tick accept the the volume of sales when compared to a year over year. The volume was down 4.8 percent. However the highest increase was 87.8 percent for new home sales volume.



If we look at the median price for a single family year over year we get an up tick of 12.8 percent. February housing market is up when we look at the price per square foot we get a 5 percent increase. Resale condos were up 11.8 percent. While new home prices were up 6 percent.



Another sign from the Feburary report that the housing market is up and improving here in Orange County California is foreclosures are down 22.1 percent. 65 percent of the sales are in standard sales not in distressed properties. Many buyers are frustrated in trying to purchase a home becoause they find there are multiple offers on homes and a bidding war breaks out.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!