Orange County Homes Priced Under $750k Are Hot Hot Hot
Every seller and buyer MUST understand that the lower the price range, the hotter the market; AND, the higher the price range, the slower the market. Not all price ranges behave the same.
There are four vastly different market in Orange County:
- Below $750,000 is red hot. Price a home in good condition close to the Fair Market Value and it will generate multiple offers and will often sell at or above the asking price. With an expected market time of only 37 days, home values are climbing and it is a deep seller’s market. This range represents 44% of the active inventory and 68% of all demand.
- The second hottest price range, homes priced between $750,000 and $1 million has an expected market time of 75 days. This is a slight seller’s market, meaning that they are able to call the shots in negotiating a sale with a buyer, but values are not appreciating. Overprice in this range and sellers will sit.
- The third range, homes priced between $1 million and $2 million, is slow at 115 days, but will eventually move when priced accurately.
- The final price range, homes priced above $2 million, is extremely sluggish with an expected market time of 269 days. It accounts for 16% of the entire inventory, yet only 3% of demand. There just are too many sellers competing for a very small pool of buyers.
This chart clearing shows that the hottest market in Orange County right now are homes priced under $750,000. They take the shortest amount of time to sell, they represent the highest share of inventory and have the highest demand!
Check out how many homes fall into this hot market catergory as of today in South Orange County.
If you want to know which range your home falls into, you can find out by going to WhatsMyOCHomeWorthToday.com You will receive a general estimate sent to your email immediately. You can call or email for a custom report tailored specifically to your home. It’s fast and free!