Orange County Housing Market Predictions for 2019
Winter brought a frigid housing market with it to start out 2019. But as the weather begins to warm up, the market is warming up along with it. As the Orange County housing market begins its annual thaw, perks for both buyers and sellers are quickly emerging. Whether you’re looking to buy or sell a home this year, don’t let the first couple weeks of 2019 deter you from making your next real estate decision. Here are some of predictions for the 2019 Orange County housing market and how you can capitalize on this shifting market.
What to Expect from the Orange County Housing Market
A Balanced Market
In years past, housing moved to a Seller’s Market by the end of January. For most of 2011-2018, the housing market transitioned to a hot Seller’s Market at the end of January, with market times of less than 60 days. However, that’s not going to be the case this year. This year, the market is moving towards a Balanced Market, which doesn’t favor buyers or sellers.
But just because the numbers aren’t where they were last year doesn’t mean that you can’t find success in a Balanced Market. For homes priced between $750,000 and $1 million, this represents 18 percent of the inventory and 23 percent of demand. If your home falls in that range, you may want to consider enlisting the help of a knowledgeable local real estate agent like Rosemary Hieber sooner rather than later.
The Best Time to Sell a Home
Super Bowl doesn’t just crown the kings of the NFL, it ushers in the best time to sell your home in Orange County. The lowest Expected Market Time readings happen from Super Bowl to mid-May, making the next couple of weeks crucial if you’re preparing to sell your home. Many homeowners will hope that the Spring Market will be more kind to them, but that probably won’t be the case either. Remember, we are transitioning into a Balanced Market, not a Seller’s Market. So capitalizing on selling your home during the weeks after Super Bowl can ensure your early success.
If you want to know if Orange County will heat up in the spring, the answer lies within simple economics principles of supply and demand. The active listing inventory is up 62 percent over the last year and increased by 4 percent over the past few weeks, with demand following suit with a 23 percent jump.
Work with a Knowledgeable Realtor in Orange County
The 2019 Orange County housing market has been much different than years in the past. That’s why it’s so important to work with a real estate agent that has distinct knowledge and experience with the Orange County housing market. Rosemary has 20 years of experience in Orange County real estate. If you’re looking for a knowledgeable realtor to help you buy a home or sell your current one, you can trust Rosemary. Contact Rosemary today to take advantage of this Balanced Market.
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