Buyer demand is solid at Orange County CA real estate – and it should inspire seller confidence.
Realtors and brokers resold 2,576 Orange County CA homes last month during March 2012 – with average sold price of $511,908.
That’s sold volume up 10.7 percent as compared with March 2011 – when 2325 homes were sold.
442 of those sold homes were REOs – or 17 percent of market.
629 of those sold were short sales – or 24 percent of that market.
So 41 percent of sold homes at Orange County during March this year were distressed properties (either REO or short sales).
According to Steven Thomas at “Reports On Housing” the Orange County home buyer demand is up – with pending sales during March 2012 up.
And if we had a better supply of homes for sale, number of pendings would be up even further.
It’s a matter of time now – until this buyer pressure and demand for homes will result in home selling prices to go up.
Source of information is Steven Thomas – ReportsOnHousing.com – CRMLS, does not include trustee auctions sales or new homes, and does include homes listed and sold by all brokers and agents.
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