Unlocking February 2020 Housing Market

Nicole Christopherson
February 28, 2020

Orange County’s spring market has arrived sooner than usual. With interest rates at lows that have not been seen since October 2016 has resulted in the market being on the rise. Housing is hotter than it has been in years. Now is the time for buyers to get into the game and start their search for houses before others get after them. 

Homes are being priced so well due to their condition, location, and upgrades which has them receiving offers after only a couple of days. Bidding wars are officially back! Due to the demand being so high during this time has caused extremely aggressive offers. People are willing to pay more this year with this market we are facing. 2020 is the year to buy!

The expected market time between the for sale sign and opening escrow is 55 days for Orange County. When the expected market time dips right under 40 days, the market will be in the seller’s favor. Resulting in a rapid price appreciation. The market for detached homes is at a prime in the range between $500,000 and $1 million. More offers coming in, intense bidding wars, and homes being taken beyond quickly.

 

Active Inventory: The active inventory gas dropped by 18 homes in the past two weeks. Homes are being taken off the market and going into escrow as quickly as they are coming on. The spring market officially is beginning in February this year! 


Demand: The demand has increased by 28% in the past two weeks.

A Great Offer, Just a Click Away

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