Orange County Housing Market Update | May 6th, 2019⠀ .⠀ .⠀ OVER THE PEAK!!!⠀ .⠀ .⠀ With a slight rise in interest rates, since dropping to 4%⠀ at the end of March, demand peaked in April this year.⠀ .⠀ Interest Rates are hovering around 4.25%⠀ .⠀ Overall demand is down about 3%⠀ .⠀ .⠀ Expected Market Time⠀ .⠀ Expected Market Time for all of Orange County increased from⠀ 76 days, two weeks ago, to 81 days today...a "slight" Seller's Market.⠀ Market Time was at about 62 days this time last year.⠀ .⠀ .⠀ For homes priced below $750k, ⠀ Expected Market Time is 58 days...⠀ A Seller's Market! This range represents ⠀ 39% of active inventory and 55% of demand.⠀ .⠀ .⠀ For homes priced between $750k and $1 million...⠀ the expected market time is 70 days...⠀ a Slight Seller's Market.⠀ This range represents 19% of inventory and 22% of demand.⠀ .⠀ .⠀ Luxury Homes⠀ .⠀ The luxury end, all homes above $1.25 million, accounts for 33%⠀ of the inventory and only 16% of demand.⠀ Expected market time of luxury homes ranges from 108 days, ⠀ for home priced between $1.25 and $1.5 million⠀ to 425 days for homes priced over $4 million. It's a broad range!⠀ .⠀ .⠀ These numbers are an average of Orange County...⠀ If you would like specific details on your city or neighborhood⠀ please contact us today. (949) 229-5460⠀ .⠀ .⠀ DRE: 01911411 & 01965556⠀ .⠀ .⠀ .⠀ .⠀ .⠀ .⠀ .⠀ #realtor #realtorlife #marketupdate #housingmarket #interestrates #finance #orangecounty #realestate #rsm #missionviejo #c21 #century21award⠀ #kaufmanevansgroup #buyingahome #homessale #homesforsale #openhouse #listings #offmarket #letsmakeadeal (at Century 21 Award Rancho Santa Margarita) https://www.instagram.com/p/BxNa5IbFESs/?utm_source=ig_tumblr_share&igshid=19a9u270nahqd