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

Call Me Today: 1-714-402-2362

November 2016 Market Update

THE STATE OF THE MARKET

Inventory dropped across our market this past month as we make our way into the holiday season. This drop was seen in new inventory as well as total inventory. This is a typical pattern for the real estate market during the 4th quarter of every year and it is actually a positive thing for sellers. The drop in inventory, or supply, creates more demand, which boosts home values. Sales prices rose across our market this past month as inventory dropped! In these conditions, the majority of buyers and sellers who remain in the market are serious about making moves. With the right strategies, very smart moves can be made in this market. If you are thinking of buying or selling in 2016, give me a call. I’d love the opportunity to help you take advantage of this amazing market!

MARKET UPDATE

Anaheim Hills had an inventory of 164 homes on the market in October. That is a 3.0 months supply. 56 homes went on the market. 88 sales were closed and pending. The median sales price was $649,500.

Yorba Linda had an inventory of 287 homes on the market in October. That is a 4.0 months supply. 95 homes went on the market. 123 sales were closed and pending. The median sales price was $789,000.

Placentia had an inventory of 100 homes on the market in October. That is a 2.5 months supply. 53 homes went on the market. 68 sales were closed and pending. The median sales price was $623,500.

Brea had an inventory of 118 homes on the market in October. That is a 3.0 months supply. 54 homes went on the market. 72 sales were closed and pending. The median sales price was $695,000.

Fullerton had an inventory of 286 homes on the market in October. That is a 2.9 months supply. 123 homes went on the market. 143 sales were closed and pending. The median sales price was $595,000.

MEDIAN SALES PRICE IN ORANGE COUNTY

The Median Sales Price rose across Orange County this past month. The Median Sales Price is currently at $636,900 for the county. This is the second highest number we have seen all year, the highest being $640,000 in June. This is great news for sellers as property values are holding strong and on the rise!

COMMUNITY EVENTS

Art & Nature | 11/3-11/6 | Laguna Beach
View special exhibitions, commissioned outdoor artwork, a keynote lecture, panel discussions, performances, and family activities on the theme of art’s engagement with the natural world at the Art & Nature Festival. For more information, visit lagunaartmuseum.com/artandnature.

Day of the Dead Festival | 11/6 | Muckenthaler Cultural Center
Celebrate the Day of the Dead with Latino arts and crafts, altars, art workshops, food vendors, and live music! This is a free event. For more information, visit themuck.org.

Dinosaur Dash | 11/6 | El Camino & West Street, Tustin
Choose from the timed Tustin Auto Center 10K, County of Orange & Supervisor Todd Spitzer 5K, the 2K Fun Run, or the non-timed Seven Gables 5K, 15K, and 50K Bike Tours. All proceeds benefit the non-profit Tustin Public Schools Foundation and local public schools. For more information, visit tpsf.net/dinodash.

Injured Warrior Appreciation Run | 11/6 | Orange County Harley Davidson
Support Veterans on their journey toward healing by participating in the Injured Warrior Appreciation Run. All motorcycles are welcome! Lunch provided by Jersey Mike’s. For more information, visit injuredwarriorride.com.

Veterans + Labor Community Celebration | 11/11 | OC Fair & Event Center
Join in this community celebration with live music, free hot dogs, a food drive for veterans, veterans resource fair, free health screenings, and organizations connecting veterans to jobs and other programs. This is a free event. For more information, visit ns.ocfair.com.

Veterans Yoga Project National Gratitude Week | 11/12 | Turner Chiropractic
Honor our nation’s veterans by joining this donation-based class as part of Veterans Gratitude Week. All proceeds raised will help Veterans Yoga Project support recovery and resilience among our veterans, families, and communities. For more information, visit veteransyogaproject.org.

The Diamond Ball | 11/12 | The Ritz-Carlton Laguna Niguel
Join this charitable gala to benefit the Wounded Veterans Initiative of Canine Companions for Independence. The evening includes silent and live auctions, live entertainment with a special guest, dancing, and a four-course dinner. For more information, visit thediamondball.org.

Cali Uncorked | 11/12 | Oak Canyon
Uncork the fun at this premier music, comedy, craft beer, wine, and food festival. For more information, visit beerfests.com/events/cali-uncorked-oc.

Nutcracker Craft Boutique | 11/18-11/19 | Brea Community Center
Shop from over 250 vendors that display one-of-a-kind handcrafted holiday gifts, decorations, food, and collectibles. All proceeds benefit the Community Center’s youth and family program. For more information, visit cityofbrea.net.

Surfing Santa Competition | 11/19 | Salt Creek, Laguna Niguel
Come on out for some holiday beach fun at The Surfing Santa Competition, a one-day surf competition where competitors dress like Santa or other holiday-inspired characters and surf the waves at Salt Creek Beach. This charity surf event helps support Surfers Healing, a foundation that hosts free surf camps to introduce children with autism and their families to the therapeutic properties of surfing. For more information, visit surfingsantacontest.org.

Thanksgiving Celebration | 11/23 | Pretend City Children’s Museum
Take a trip to Plymouth Rock and celebrate everything you are thankful for! Children will have a blast participating in turkey activities and learning the meaning of giving thanks. Free with museum admission. For more information, visit pretendcity.org.

Orange County Rescue Mission’s Turkey Trot OC | 11/24 | Village of Hope
Bring your family and friends on Thanksgiving morning and help raise enough funds to provide over 30,000 meals for the hungry and homeless of Orange County. The course will be a 5K Run/Walk. For more information, visit turkeytrotoc.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

Connect with me on social media @mikemagdesianrelator for instant access to Listings, Open Houses, Market Updates, Real Estate News and Advice from your friendly neighborhood REALTOR®!
facebookgooglepluslinkedin

By: Mike Magdesian

I am a REALTOR® on The Campion Team at Coldwell Banker Residential Brokerage in Yorba Linda. 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!

Leave a Reply

Your email address will not be published. Required fields are marked *