Careful List Pricing Still Key to Success at Orange County CA Home Selling
Home sellers will be successful at Orange County CA home selling when they pay attention to correct list pricing in this moderating market.
Orange County local markets are moderating toward balance – as compared with first six months of 2013 where sellers were in control.
Buyer demand was way up from January to March of this year 2013 when the number of listings was at an 8-year low. Since March, buyer demand has dropped.
Since March 2013 the for sale listing inventory at Orange County has grown by 68% – probably because of some overpriced listings – those priced correctly to fair market value – and home buyer demand dropped.
When sellers want to succeed, they will price their homes based upon recent pending and closed sales comp information – not based upon dreamy ideas – and buyers should stick with appraisals.
Home prices appreciated too fast this so far year, and prices increasing too much too fast over fair market value discouraged buyers.
We expect Orange County CA real estate see the following for last part of this year 2013:
Home buying market demand will level off.
Slower home price appreciation
- Buyers who are financially qualified will be more patient.
- Sellers will need to list their homes at prices based upon sold and pending comp information.
- Market buyer demand, the number of new pending sales over the prior month, will continue to moderate downward.
- Short sales and distressed properties will have decreasing numbers and less pressure on the market.
Fewer homes are being sold during the past 90 days at Orange County, and more listings now on the market, so number of sales are expected to decline through remainder of this year.
Sellers will be successful in this market when they price at listing according to recent sales and pendings.
Source of some information is ReportsOnHousing.com.
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