Median OC House Prices Up From Last Year

Median OC House Prices Up From Last Year

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As of October 2017, the median house price in Orange Country rose significantly compared to the same time last year. Though Orange County has the smallest hike in SoCal at 4.8 percent compared 8.1 percent in Los Angeles and 7.5 percent in Riverside, the median house price is the highest at $786,000. 

With very low inventory on the market, we're seeing sales stymie as affordability becomes more and more out of range. Statewide the number of listings has dropped 11.5 percent from the same time last year, declining at a rate of more than 10 percent per month since the beginning of 2017. In fact, every country in the state of California, with the exception of San Bernardino, has fewer listings than this time last year. 

Unsold inventory rates have dropped as less homes on the market have equated to quicker purchases. Buyers are jumping on what's available, reducing number of days on market and further pushing up home prices throughout California. 

Source: http://www.ocregister.com/2017/11/17/socal-house-prices-shoot-up-in-october-orange-county-786000-and-l-a-580360/


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Phone: 949-683-5374
Dated: November 27th 2017
Views: 78
About Liz: An Orange County native and Team Manager of The Kurt Real Estate Group with a heavy background in bo...

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