Orange County – March Market Summary

  • Comparing March year over year, pended sales were down 7.6% over a year ago, while homes available for buyers were also down 51.7%
  • Closings were up 0.7% over a year ago
  • The effect of fewer listings and more pended sales is clearly illustrated in the Months of Inventory/Closed Sales (1.2 months) and Months of Inventory/Pended Sales (1month)
  • Compared to a year ago, the average price per square foot was up 17.65%
  • The sold/list differential percentage was actually better than a year ago. The 2% figure represents how buyers and seller are negotiating with each other. It also tells us how buyers and sellers should strategize to list their property and how to strategize writing an offer to obtain the best results.
  • Overall, supply has decreased dramatically to near all-time low levels and pended sales have increased significantly. If the current trend continues, we expect the local markets to continue to appreciate at an accelerated pace. Overall in March there were 3,409 fewer homes available and 266 fewer homes sold in March 2013 as compared to March 2012. Overall in Orange County, an incredible 96% of the supply of the homes available in March 2013 sold.

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