Despite various challenges, the South Orange County real estate market has proven to be remarkably resilient. Throughout the year, we have witnessed a steady increase in home prices, largely attributed to the scarcity of available homes in the area.
One notable trend is the significant decrease in the average days on the market for properties. In March 2024, the average days on market has reduced to just 26 days, compared to 42 days in March 2023. This indicates a heightened demand for homes in our region and underscores the competitive nature of the market.
Additionally, we are observing an increasing number of multiple-offer situations on homes that are priced correctly. This further emphasizes the importance of strategic pricing and positioning in today's market environment.
As always, if you have any questions or if there's anything specific you'd like to discuss regarding the real estate market, please don't hesitate to reach out. Danielle and I are here to assist you every step of the way.
