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March 2017 Market Update

THE STATE OF THE MARKET

Every spring, the housing market typically begins to warm up, and, with spring right around the corner, we are already seeing positive change in our market! Inventory continues to increase, giving buyers more options to choose from and sellers more competition, however, sellers are still netting great profits from the sales of their homes. This past month, the median sales price, price per square foot, the median percentage of the final list price sellers received, and the median percentage of the original list price sellers received all rose! Adding to this, the median number of days a house is on the market dropped 11 days this past month too! This means that homes are selling fast and for what sellers want. If you’re thinking of buying or selling in 2017, give me a call; I’d be happy to help you strategize on how to take advantage of our great market!

MARKET UPDATE

Anaheim Hills had an inventory of 119 homes on the market in February. That is a 2.2 months supply. 67 homes went on the market. 64 sales were closed and pending. The median sales price was $610,000.

Yorba Linda had an inventory of 227 homes on the market in February. That is a 2.9 months supply. 108 homes went on the market. 111 sales were closed and pending. The median sales price was $725,125.

Placentia had an inventory of 66 homes on the market in February. That is a 1.6 months supply. 33 homes went on the market. 64 sales were closed and pending. The median sales price was $595,000.

Brea had an inventory of 86 homes on the market in February. That is a 2.1 months supply. 47 homes went on the market. 52 sales were closed and pending. The median sales price was $668,500.

Fullerton had an inventory of 203 homes on the market in February. That is a 2.0 months supply. 119 homes went on the market. 150 sales were closed and pending. The median sales price was $570,000.

SALES PRICE IN ORANGE COUNTY

The median sales price in Orange County is on the rise! We started off in January with a median sales price of $620,438. Take into account that this is for the whole county and encompasses single family homes, townhomes, and condos. February saw a median sales price of $629,500 for the county. That’s a rise of $9,062. With the median sales price moving in a healthy direction, price per square foot rose, the median percentage of the final list price sellers received rose, and the median percentage of the original list price sellers received rose too! Home values are strong in our market and they are on the rise!

COMMUNITY EVENTS

Orange County Heart & Stroke Walk | March 4 | Angel Stadium
The Heart Walk is the American Heart Association’s premier event for raising funds to save lives from heart disease and stroke. Designed to promote physical activity and heart-healthy living, the Heart Walk creates and environment that’s fun and rewarding for the entire family. For more info, visit www2.heart.org.

Jamboree at the Cube | March 4 | Discovery Cube Orange County
Plan a summer full of fun at this summer opportunities fair for kids! Exhibitors include family camps, horse and cattle ranches, day camps, STEM programs, special needs programs, sports leagues, surf camps, etc! For more info, visit oc.discoverycube.org.

Patriots’ Day Parade | March 4 | Downtown Laguna Beach
On the first Saturday of each March, 100 marching units assemble to step off in the annual Laguna Beach Patriot’s Day Parade. This year marks the 51st annual parade, themed “One America.”For more info, visit lagunabeachparade.org.

Mufaro’s Beautiful Daughters | March 4-5 | Segerstrom Center For The Arts
When a great African king desires a wife, only the most perfect maidens in the land are invited to meet him. Mufaro’s pride and joy, his two daughters of very different dispositions, travel a half-day’s journey through a mystical jungle to be presented to the king. Along the way, the girls encounter a number of extraordinary situations designed to test their kindness, compassion and strength of spirit. For more info, visit scfta.org.

OC Restaurant Week | March 5-11
Enjoy a week of fabulous dining: Orange County’s favorite restaurants are ready to dish up delicious food at fantastic prices for one week only. The prix fixe menus are priced at $10-$20 per person for lunch, and $20-$50 per person for dinner. Try new places, enjoy a romantic dinner, get a group of friends & dine out! For more info, visit ocrestaurantweek.com.

Jouyssance Early Musical Ensemble | March 9 | Muckenthaler Cultural Center
Experience unaccompanied choral music of the medieval, renaissance, and early baroque eras. This year the ensemble will focus on rich and diverse choral music from the first half of the 16th century. Sumptuous and spiritual music of giants like Josquin, Tallis, Morales, Taverner, Isaac, and others will be featured. For more info, visit themuck.org.

3/1 Marines 5k Walk/Run | March 11 | PCH & Beach Boulevard
Your participation in this event will help sponsor the 3rd Battalion/1st Marines out of Camp Pendleton in support of Huntington Beach’s adopted battalion. The Marines will be leading the run this year in cadence, per tradition when the Battalion is home. For more info, visit facebook.com/HBMEA43ONE.

Newport – Mesa Spirit Run | March 12 | Fashion Island
The event consists of twelve racing events plus a 5k Family Walk and Toddler Trot. Adult races include the Elite Mile, Sub Elite Mile, Dog Mile, Open Mile, 5k, 10k, and 15k (5k + 10k, times combined and ranked). Youth races include the Youth 5k and six separate ¼ - 1 mile races for ages 4-19. For more info, visit nmspiritrun.org.

Tustin Hangar Half & 5k | March 12 | The District at Tustin Legacy
A minimum of 15% of all race registration fees are slated to go directly to the nonprofits and charities that the race registrants themselves choose when they register for one of the races. For more info, visit tustinchamber.org.

St. Patrick’s Day Party | March 17 | Yorba Linda Community Center
Get your Irish on and support Meals on Wheels! Ticket price includes Traditional Irish Buffet, Appetizers, Beer, Wine, Soda, Refreshments, Dessert, and Coffee. Entertainment and Dancing until Midnight! All proceeds benefit Placentia Yorba meals on Wheels. For more info, visit placentiayorbamow.org.

A Day of Authors | March 25 | California State University Fullerton
Join more then 500 book lovers for “A Day of Authors,” where prominent authors inform and entertain. This year’s authors include Walter Borneman, Laurie Frankel, and Gail Tsukiyama. Proceeds from this event benefit the following community groups: St. Jude Medical Center’s “Healthy Beginnings,” Operation School Bell, Santa’s Closet, and Emergency Needs. For more info, visit adayofauthors.com.

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!

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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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