Since we have come to an end of the summer I thought I would provideyou with an end of the summer real estate sales and inventory report. Specifics include Orange County and a look at how we compare to the National trends.
August 2011 Real Estate search results are in and Orange County, CA was the #16 most searched market in the country during August 2011. This is based on data released recently by Realtor.com, which is the #1 homes for sale Real Estate search web site.
The median list prices for homes in Orange County, CA hit $449,000 in August 2011, a -6.44% decrease from one year ago this month, and -0.22% decrease from July 2011. The national median list price in August 2011 was $189,900, a 0.48% increase compared to August 2010. The median decrease is a result of more homes selling in the lower price bands.
The active “for sale” inventory of homes in Orange County, CA in August 2011 leveled out at 15,828, a -12.10% decrease compared to August 2010. The National inventory counts for August 2011 were 2,267,327, a -19.00% decrease as compared to a year ago.
The median age of inventory in Orange County, CA in August was 87 days, a 1.16% increase compared to July 2011. Nationally, the median age of inventory was 103 days, a 6.19% increase to July.
And thank you for making me Your Orange County Real Estate Connection.
Michael Caruso, Broker ABR ABRM CLHMS CRB CRS GREEN GRI
Past President, Orange County Association of Realtors (949) 753-7900