Corona del Mar - Little Corona

Orange County Real Estate News, Events & More!


OC Real Estate Update

versus one year ago

as of September 2017

 

 

Home Prices
Resale Homes +7.1%, Resale Condos +9.2% and New Home Sales +.2%
All totaled, OC home values are up 11.1% versus last year
Median OC home price is $700,000 up versus one year ago (All Time High)
$1,000,000 plus homes represent 43.8% of all OC listings
Sales Volume
Resale Homes +7.7%, Resale Condos -4.8% and New Home Sales +47.8%
All totaled, OC sales volume is up +7.9 versus last year
Home sales volume is 3,609 up slightly versus one year ago
Inventory is at 5,382 down from 5,862 just one month ago

Interest Rates
30-year fixed Mortgage rate is currently 3.91%, up versus one week ago
15-year fixed rate is 3.21%, up versus one week ago
Average Home Payment is $3,248.11 up versus one year ago
ARM’s represent 16.1% of all mortgages, down from 17.6% versus last year
Cash-out refinances from 11/2016 to 1/2017 were up 52% year over year
HELOC’s are up 14.1% from January 2016

Did you Know?
Real Estate related jobs represent 19.5% of all OC jobs!
Since 2012 the average US home has increased $77,000 in value
Since 2012 the average SoCal home has increased $210,000 in value
Since 2012 the average OC home has increased $238,000 in value
Since 2012 the average LA home has increased $241,000 in value
There were 37,881 homes sold in Orange County in 2016

Facts
According to Core Logic, 46% of the nation’s top 50 metro areas are overvalued!
OC property owners will incur a 2% increase on their tax bill this year
OC Home ownership is 57.8%
OC Homes underwater is now only 1.6%, only 8,680 versus 130,000 in 2009
First time homebuyers are now 30% nationwide

 

The numbers and calculations contained herein are believed to be from a reliable source, but not guaranteed to be 100% accurate.