It’s time to peek in on the market in Orange. What’s new, what’s old, and what’s depressing? Below are some hardcore numbers for you, and, below that, are properties just listed and properties that have been around the block once or twice (try nearly two years!).
Thanks to trusty Altos Research, we have updated data for the City of Orange. The median home price is continuing to decline and is now $672,843 . There are 582 homes on the market, with the average time on the market at 99 days. Inventory “appears” to be leveling off, but don’t be fooled into thinking we’re seeing any kind of an upturn. If you ask me, it’s probably a result of less homes going on the market (the smart/financially stable are not listing their homes), sellers getting fed up and taking their homes off the market, and others losing their homes listed for sale to foreclosures. All of these situations would result in a decrease of inventory levels… but in no way is it good news!
My favorite chart in a cynical kind of way is the market action index graph. The seven-day trend looks like it’s about to go off the chart into negative territory. The market action index measures the relationship from supply to demand. In a seller’s market, the index is over 30, and, in a buyer’s market, the index is under 30. So… going off the chart here is just comical. Can the market get any worse?
Properites Just Listed
1300 West Sycamore Ave, Orange 92868; 3 bed/2 bath; 1,011 sq ft; $468,000; 1 day on the market
2014 West Orchard Ave, Orange 92868; 4 bed/3 bath; 1,676 sq ft; $570,000; 2 days on the market
166 North Cambridge St, Orange 92866; 3 bed/1.5 bath; 1,875 sq ft; $635,000; 1 day on the market
Properties That Have “Been Around”
327 East Collins Ave, Orange 92867; 3 bed/1 bath; 1,378 sq ft; $499,000; 721 days on the market
1245 East Palm Ave, Orange 92866; 3 bed/2 bath; 1,954 sq ft; $699,900; 648 days on the market
816 South Woodland St, Orange 92869; 4 bed/2 bath; 2,781 sq ft; $845,000; 417 days on the market