By Eric Engelbert
It is clear that homebuyer interest is on the rise, as evidenced by the upward trend in Google Trends and the decrease in residential inventory for sale in Orange County. Additionally, the increase in properties with accepted offers and closed sales, as well as the decrease in median days on market for properties priced under $2,000,000, all indicate a strong increase in buyer demand.
However, it's important to note that the market for properties over $2,000,000 is still a buyer's market, with a longer median days on market. This means that it's crucial for sellers in this price range to understand the data for their specific neighborhood in order to set realistic expectations and potentially outperform homes that have been sitting on the market for longer periods of time.
If you're considering buying or selling in this market, it's important to analyze the data for your specific area and target neighborhood. The data signifies the sales cycle and it will tell us what buyers and sellers are expecting. Contact us to access the most current data, and to learn how to make the most of this upward trend in homebuyer interest.
