Housing Market Report for Anaheim Hills and Orange County Ca. Housing Market slowing down?
Even though it’s almost the end of April 2022. So the first step I want to give you is that the medium home price of Anaheim Hills was $1.17 million in March of 2022. According to the California Association of Realtors, there’s a significantly high price compared to last year. So it’s good for the sellers. Not good for the buyers. But let me give you another stat. The other significant stat from March 2022 for Anaheim Hills is that 34 homes sold in March of 2022, which is down almost 35% from last year. Now, that’s a significant number. But remember, one of the reasons is not the market is slowing down or the economy’s tanking or there’s a recession coming. But the reason for that is there is no inventory. So if there is no inventory, home sales are down, obviously. In March, there were 30 homes for sale in 2022, which is down 10% Almost 10% from last year. So as you can see, since the inventory was down, home sales were down so they go hand in hand, so nothing to panic about. Also, I want to let you know that even though I’m giving you the Anaheim Hills stat, this trend pretty much follows in most of North Orange County and Orange County. And if I had to guess I’m not supposed to guess. But if I had to guess, all of California, so this is just a trend. And even though with the 5% interest rate in January, February, and March, there is still multiple offers out there. And here’s another stat for Anaheim Hills.
How long does it take to sell a house in Anaheim Hills?
Well, the number is seven which is very, very low. That means there is a very strong demand for homes. Homes are selling within seven days. And here’s the best number of homes are selling at 6% on average, over the list price. In other words, if you list your home for a million dollars, you’re gonna end up selling on average for about $1,060,000 which is a significant number. So that’s a good start to know homes are coming and getting snapped up. There are still multiple offers. Of course instead of 10 multiple offers back in 2021 There are only three or four so it’s number down but they are still multiple offers, which is significant homes are still selling within seven days, and the market is still steaming along.