October Market Update 2021
I’m going to give you a quick and I’m Hills market relisted report. But also wanted to let you know that this trend of the report also applies to Orange County and pretty much all of California. So, here goes the report for Anaheim Hills for single-family homes in Anaheim Hills, which includes the zip codes 92807 and 92807.
Let’s look at the medium sales price in Anaheim Hills, and compare it to this year from January 2021 through October 2021.
In January, the median sales price in anime Hills was $900,000, and October 2021. It’s almost a million dollars. So there is almost a 10% increase in just one year on the median sales price of anime Hills, which is a significant increase. And also, the median sales price of all of the Multiple Listing Service homes listed there is approximately $800,000. So as you can see, the home sales price in anime Hills is much more than all the MLS combined for single-family homes, which does not include the townhomes and condos, and manufactured homes.
Let’s look at the dollar per square foot of what happened in January 2021 versus towards the end of October.
In January 2021, the average dollar per square foot of single-family homes was approximately $410 per square foot. In other words, if you buy a 2000 square feet home, and if the dollar per square foot is 410, the price would be approximately 800 to $850,000. But in October 2021 The dollar per square foot, increased by $70 per square foot, which is now at $480 per square foot. Like I said earlier, this trend is not only happening in Anaheim Hills but also in Anaheim, most of Orange County, and most of California. As you may know, the California sales price, on average, has gone up in the last two years by approximately 27%.
So that’s the brief Market Report. Prices are still going up. And this is due to the fact that you’ve heard it many times by now. Two or three facts one is that the rates are low so the buyers are taking advantage of the purchases; sellers are also taking advantage of the low-interest rate because they’re selling it high. And they’re buying another house using the equity from this house and buying another house at a low-interest rate. So it’s beneficial for both the buyers and the sellers.
The other reason the prices are going up or have gone up so much, approximately 10% Just in the last 10 months in Anaheim Hills is that there is an obvious shortage of homes. They are at historic lows and they’re going to remain so. So the trend is for not only aligning hills but that trend for 2022 for Orange County in California is pretty much the same that we have heard before is becoming a norm with no shortage of homes. low-interest rates and prices are gonna go up. They are predicting for the next two or three years prices to go up nationwide, three to 4% per year. And of course in Orange County, if the nationwide is going to go up three to 4% Orange County goes up a little bit more, that’s just the way it is.