September Market Snapshot

Oct 4

There are many consequences to sky-high rates. Orange County buyer demand has dropped to ultra-low levels. It is 37% lower than last year and 29% lower than the 3-year average prior to COVID. With fewer buyers in the marketplace, foot traffic is way down, OPEN HOUSE attendance is down considerably, multiple offers are the exception and not the rule, sales prices are normally below the asking price, and market times have increased substantially. Buyers are no longer waiving appraisals, waiving inspections, providing free rent backs to sellers, or paying substantially above asking prices.

In several cities and areas around OC inventory is down because of muted demand and sellers who rather keep their low mortgage rates. Days on market is increasing. Prices though, they are up and down….Let’s take a look at what’s specifically happening in these areas of 🍊Orange County.

In the movie 🎥, the market report is shown for the last full week of September, month-over-month change.

- Coto de Caza
- Dana Point
- Huntington Beach
- Ladera Ranch
- Laguna Beach
- Laguna Niguel
- Las Flores
- Mission Viejo
- Newport Beach
- Newport Coast
- Rancho Mission Viejo
- Rancho Santa Margarita
- San Clemente
- San Juan Capistrano