Orange County Real Estate ⟩ Listings | Market Updates | News & Advice

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February 2017 Market Update

THE STATE OF THE MARKET

A new year means new market activity and that is what we are seeing in 2017! Both new and active listings are on the rise, meaning 2 things: 1) housing inventory is increasing, and 2) homes are hitting the market quicker than they are selling. This rise in inventory is giving buyers more options, which usually means the market is shifting from a sellers market (tight inventory, seller has the upper hand) to a buyers market (more supply, less demand, buyer has more room to negotiate), but that is not the case right now. The median percentage of both original list price and last list price sellers have received has held steady the past few months, meaning sellers are getting what they want for their homes within 2-3%! If you are thinking of buying or selling in 2017, give me a call. I’d be happy to guide you through this unique market!

MARKET UPDATE

Anaheim Hills had an inventory of 107 homes on the market in January. That is a 1.9 months supply. 51 homes went on the market. 61 sales were closed and pending. The median sales price was $575,000.

Yorba Linda had an inventory of 212 homes on the market in January. That is a 2.8 months supply. 101 homes went on the market. 106 sales were closed and pending. The median sales price was $787,000.

Placentia had an inventory of 72 homes on the market in January. That is a 1.7 months supply. 44 homes went on the market. 62 sales were closed and pending. The median sales price was $600,250.

Brea had an inventory of 81 homes on the market in January. That is a 2.0 months supply. 43 homes went on the market. 54 sales were closed and pending. The median sales price was $604,490.

Fullerton had an inventory of 210 homes on the market in January. That is a 2.1 months supply. 110 homes went on the market. 116 sales were closed and pending. The median sales price was $582,500.

NEW LISTINGS IN ORANGE COUNTY

New listings, or homes new to the market, almost doubled in Orange County between December and January. It is typical for new and total housing inventory to decrease throughout the 4th quarter of every year, hitting the lowest point of the year in December, and jumping back up in January as we begin a new year. While only 1,456 homes went on the market in December, 2,832 homes hit the market in January.

COMMUNITY EVENTS

Surf City USA Marathon & Half Marathon | 2/5 | Huntington Beach
Run on Pacific Coast Highway and wind through the legendary surfing beaches of Southern California. Retro surf bands entertain along the way, and the finish line party includes a beachside beer garden in the California Sun! For more information, visit runsurfcity.com.

Art Nouveau Valentines | 2/5 | Fullerton Museum
Create Mucha-style Valentine’s Day cards in this hands-on art afternoon for adults. Make beautiful original art while enjoying tea and light refreshments of the period. $20 includes all materials and refreshments. For more information, visit ci.fullerton.ca.us.

Romantic Cruises for Valentine’s | 2/5 – 2/14 | 400 Main Street
Cruise through the world-renowned Newport Bay to see gorgeous waterfront estates and multi-million dollar yachts. Outside the bay, travel along the most scenic coastline in the country. Tickets include a complimentary beverage. For more information, visit cruisenewportbeach.com.

OC’s 2017 Kickoff Major Business Expo | 2/8 | Great Wolf Lodge
More than 130 exhibitors and over 900 guests attending. For more information, visit rbnevents.com.

Chamber Bowling – Relay for Life | 2/8 | La Habra 300 Bowl
All of the proceeds will go toward this year’s Relay for Life held on June 24, 2017. Relay for Life is a life-changing experience that gives everyone in communities across the globe a chance to celebrate the lives of people who have battled cancer, remember loved ones lost, and fight back against the disease. For more information, visit lahabrachamber.com.

Laguna Beach Music Festival | 2/8 – 2/12 | Laguna Beach
Enjoy this multi-day celebration featuring outstanding classical and contemporary concerts in intimate spaces, community outreach programs, and dynamic special events. The Festival is committed to offering free outreach events for students, seniors, and the community-at-large. For more information, visit philharmonicsociety.org/lbmf.

Art Crawl Experience | 2/11 | Downtown Anaheim
Stroll among permanent outdoor art fixtures to discover artists demonstrating their creative process live for curious onlookers. The indie craft fair is a cascade of canopies containing unique handcrafted treasures, gourmet food trucks, and local entertainers. Participating downtown eateries and shops transform their spaces into one-night pop-up galleries, while the latest art exhibits are unveiled at brick-and-mortar galleries. For more information, visit downtownanaheim.com.

The Little Prince | 2/18 – 2/19 | Segerstom Center for the Arts
See an astonishing new take on the classic story often assumed to be for children. The Little Prince is a tale for all ages about learning how to laugh, love, and cry again. A beautiful new production uses inventive puppets, live actors, original music, and magnificent design to bring to life the heartwarming story of the Little Prince who gains rare and unique insights into love, loss, and laughter. For more information, visit scfta.org.

Irvine Park Railroad Anniversary Experience | 2/25 – 2/26 | Irvine Park Railroad
Celebrate the 21st year of the Irvine Park Railroad with prices from 1996: $2 per activity ticket! In addition to train rides and other activities, the celebration will feature face painting, panning for gold, concessions, carnival games, and a bounce house. For more information, visit irvineparkrailroad.com.

The Art of Dining: A Food, Music & Pottery Experience | 2/26 | The Muckenthaler Center
Enjoy an intimate evening of Korean cuisine at the Muckenthaler Cultural Center. The event begins with a ceramic sale, followed by a cocktail hour accompanied by traditional Korean live music. Dinner will include bibimbap, dessert, and tea. Each guest will receive a handmade bowl for dinner service to keep! All funds raised from this special event will help a cultural exchange exhibition between Yong-In, Korea & Fullerton. For more information, visit themuck.org.

WANT TO KNOW THE NEW VALUE OF YOUR HOME?

Click here for a free comparative market analysis of your home! The market has been improving and your home is likely worth more than you think!

CONNECT WITH ME

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By: Mike Magdesian

I am a REALTOR® at TNG Real Estate in Fullerton. Centrally located in northeast Orange County, I have experience selling homes in Orange County, Los Angeles County, and the Inland Empire and am happy to help you wherever you may be. Whether you are a first time buyer, a move-up buyer, an experienced seller, or an investor, I will use my proven marketing strategies and negotiation skills to create the best outcome possible for you. I strive to provide the best service possible for my clients. I will keep you informed of current market trends and local inventory, explain each part of the transaction in terms you will understand, and utilize real estate technologies that create a smooth experience for you. Whatever your real estate goals are for this year, I would love the opportunity to help you achieve them! Call me today at 714-402-2362 for a complimentary consultation!

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