|
HOLIDAY MARKET! In a swift shift, Orange County transitions to the Holiday Market this week. Inventory and demand drop this time of year. As the festive season kicks in, many sellers and buyers hit pause on their real estate goals to enjoy the merriment.
BUYERS: NEW INVENTORY PEAK! The active inventory in Orange County has surged by 4%, hitting an unexpected late peak. Despite inventory appearing to peak in August, this late surge sets a new record and today marks the peak. November and December typically see the fewest homes hitting the market, as sellers often pause their listings for the holiday season. Act now to seize opportunities before the inventory dwindles further!
SELLERS: ACT STRATEGICALLY FOR SUCCESS! Demand has dipped by 5%, with pending sales decreasing in the last couple of weeks. This decline is influenced by the season and the persistently high mortgage rates, hovering above 7%, even reaching 8% last month. As the year concludes, expect demand to further decrease, hitting its lowest point on New Year's Day. With supply on the rise and demand on the decline, the Expected Market Time has extended from 56 to 61 days, the highest since January. Act strategically to navigate this market shift!
Included below is your Irvine Real Estate Market snapshot. I am your local resource for all your real estate needs. Referrals are always appreciated.
- Ellie Yung, Your Orange County Real Estate Specialist
|
|
|
August 2023 - November 2023 (4-Month Look Back)
|
|
|
October 2022 - October 2023 (12-Month Look Back)
|
|
Market Action Index (MAI)
Comparison rate of sales versus inventory
|
|
|
|
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
|
|
|
JUST LISTED
22 Shadybend - Offered At $3,980,000
4 Bedroom | 4.5 Bath | 4,191 SqFt Living | 5,308 SqFt Lot
|
|
|
This stunning model-like home in The Groves at Orchard Hills offers luxurious living behind the 24-hr guard gates, featuring over $200K in premium upgrades, including 20 owned solar panels, and a premium lot for maximum privacy. The main floor impresses with its Open Floorplan, Chef-inspired Kitchen, Additional Prep Kitchen, and a Great Room that seamlessly transitions to an indoor/outdoor California Room. The serene backyard features stone pavers, a built-in BBQ, and a tranquil waterfall. There's also a convenient Main Floor Guest Bedroom and Full Bath. Upstairs, you'll discover a spacious Loft, a well-appointed Master Suite with an oversized bath and walk-in closets, along with two more spacious bedrooms and their own baths. Green features like Owned Solar Panels, pre-wiring for electric car charging, and a tankless water heater add to the home's appeal. The attached 2-car garage offers built-in storage and epoxy floors, and the property is within walking distance of Orchard Hills School and Shopping Center, zoned for California Distinguished Tustin Unified Schools. This home is a hidden gem!
|
|
|
Woodbridge, Irvine - Offered At $2,300,000
5 Bedroom | 3 Bath | 2,794 SqFt Living | 5,000 SqFt Lot
|
|
|
Gorgeous home nestled in the highly sought-after Landing II community in Woodbridge. This home features 5 bedrooms, 3 baths including a main floor bedroom and full bath. As you enter the formal foyer, you'll be greeted by an open floorplan featuring vaulted ceilings, a striking staircase, and an abundance of natural light. The chef-inspired kitchen boasts maple wood cabinetry, ample counter space, and a breakfast nook with lush views of the oversized backyard. Prime Location! Walking distance to South Lake and the Woodbridge South Lake Tennis Club. Contact me today for a private showing!
|
|
|
Windflower, Aliso Viejo - Offered At $749,000
2 Bedroom | 2 Bath | 1,047 SqFt Living
|
|
|
Discover the epitome of elegance in this stunning townhome situated in the highly sought-after community of Windflower in Aliso Viejo. Boasting a desirable layout, this residence offers a convenient downstairs bedroom and full bath, providing flexibility and comfort. Upstairs, you'll find another spacious bedroom and bath, ensuring ample space for relaxation and privacy.
|
|
|
|
To obtain a complimentary instant home valuation and quick peek at the market activity near your home, please click the button below.
|
|
|
|
|
|
There will be a new video each week so be sure to subscribe!
|
|
|
Breaking News: New Community Coming to Orchard Hills
|
|
|
Exciting news! There's a new community coming to Orchard Hills, "The Summit"! This gated community will boast 520 homes, ranging from 2,100 to 4,200 Sq Ft, on spacious lots with terraced views. Unexpected twist: Irvine Company is stepping back from home building, and rumors hint that Toll Brothers may take the reins. Construction started in 2021, but the first homes won't grace us until 2025. Anticipate jaw-dropping prices with Toll Brothers and these sought-after features!
|
|
|
Lake Forest: A Hidden Gem for Savvy Investors
|
|
|
There are a multitude of reasons why I am drawn to this charming city, and I'm excited to show you why it's a prime spot for savvy real estate investors. If you're looking to make sound investment decisions, click the Subscribe" button and hit the notification bell to stay updated with our latest real estate insights and opportunities.
|
|
|
From my family to yours, Happy Thanksgiving! May your day be filled with joy, delicious food, and all the things that bring a smile to your face. Enjoy this time with your families!
|
|
|
|
