Orange: Real Estate Market Report
(The Good, the Bad and the Ugly)
Ready for the good, the bad, and the ugly? Not sure about the good, but I’ve got the bad and the ugly… But, don’t worry, it’s not bad enough for the noose.
The median Orange home price is currently $645,403 (down 4% from $672,843 in early January). The number of homes on the market also dropped 4% from 582 to 559. And… the average number of days a home is listed on the market is up 10% from 99 to 109. While most of this is considered bad news for homeowners in Orange, it could be worse. We’re not seeing the steep drops we were seeing a few months ago. Also, for buyers, this means opportunity for great deals are increasing… if you have the confidence to buy in this market. (Data and graphs courtesy Altos Research.)
In every real estate market, you’ve got properties going through each stage of the selling process in the market. Below are some properties representing some of the stages of the “home-selling life cycle”.
Properties Just Sold
4212 E Townsend Avenue, Orange 92867; 4 bed/3 bath house; 3,447 sq ft; listed at $1,249,500; sold on 12/18/07 for $1,150,000 (8% below asking)
2146 E Jacaranda Avenue, Orange 92867; 5 bed/3 bath house; 2,214 sq ft; listed at $545,000 (just down from $599,000); sold on 1/25/08 for $594,000 (9% over asking)
838 E Wilson Avenue, Orange 92867; 3 bed/2 bath house; 1,732 sq ft; listed at $600,000; sold on 12/18/07 for $560,000 (7% below asking)
Properites Just Listed
4012 East La Veta Avenue, Orange 92869; 5 bed/4 bath house; 4,000 sq ft; $1,000,000; 1 day on the market
2439 E Jackson Avenue, Orange 92867; 5 bed/2 bath attached house; 1,797 sq ft; $590,000; 1 day on the market
487 North Noble Street, Orange 92869; 4 bed/2 bath house; 1,718 sq ft; $449,000; 2 days on the market
Properties That Have “Been Around”
4937 Glen Albyn Lane, Orange 92869; 4 bed/2 bath house; 3,000 sq ft; $1,275,000; 390 days on the market
830 East Hoover Avenue, Orange 92867; 3 bed/1.75 bath house; 1,640 sq ft; $650,000; 616 days on the market
19102 East Country Holw #20, Orange 92869; 2 bed/2.5 bath condo; 1,227 sq ft; $399,000; 499 days on the market
