Orange County Real Estate: Hot OC Predictions

Mike Stankewich, an Orange County realtor, reports that Orange County California real estate continues to grow, beating records of previous years. Prices continue to rise while inventory continues to decrease, creating a Seller's Market for the Orange County area. Inventory is the number of houses available to buyers. These trends can be seen especially in areas like Newport Beach. Chris Wakim, an Orange County Realtor, claims that there will be a "mad scramble for anything in Orange County with four walls and a roof."

According to Charles Mansur, also an Orange County Realtor, as of March 1, 2005 there were 4,979 homes for sale; this figure is down by at least 891 homes since February. These properties have an average list value of $965,634. There were approximately 2,800 homes listed in February with an average listing price of $853,692. This listing price was up from January an average of $80,752. Mansur claims that prices are rising and inventory is getting smaller and smaller.

California Realtor, Blanch Evans, lists several reasons for the continuation of a Seller's Market in Orange County. Evans claims that Orange County reported a 2.7 percent unemployment rate and the national economy is improving. Evans also says that there is no new inventory becoming accessible for home buyers. Also, interest rates are low and stable.

Many realtors predict that the real estate market in Orange County will continue to remain a Seller's Market and prices will continue to rise. Most realtors are also in agreement with the reasons listed above.