The real estate market has rebounded a bit. Hooray! Days on market in Orange County have been cut in half to 42 days from 89 days at the end of 2022. Inventory is low across all of Orange County. Open houses are busier and buyers are wanting to buy now. My most recent listing in Pacific Hills had showings for 3 days and received 5 offers. The key to multiple offers:

  1. Getting your property spruced up to sell
  2. Pricing it appropriately

Right now there are just 4 active properties on the market in Canyon Crest. That is actually more in comparison to the past couple of years. However, in the big scheme of things, that is still very low inventory. (Pre-pandemic there would be 12-20 properties on the market this time of year.)

 

If you look at the homes still active on the market, they are all priced at $1,574,000 and above. If you look at the 3 homes that have sold in the past 2 months, they all sold at $1,575,000 or below. I feel this is pretty telling. At this time last year, buyers were offering between $1.6M and $2.3M to secure their Canyon Crest dream home. With interest rates around 6%, there is a much smaller pool of buyers who can afford homes above $1.6M. Those who can afford those home prices have less competition and can afford to be picky. 

 

The key takeaway: PRICE APPROPRIATELY. 

 

With nearly non-existent inventory and plenty of buyers wanting to live in Canyon Crest, there is ample opportunity for homeowners to cash in on all the equity that has accumulated over the past couple of years and beyond. Sellers who prepare their homes properly for sale and price at fair market value will achieve success in 2023.

 

See for yourself what is going on in the Canyon Crest market:

 

What's currently for sale?

Click here to see properties that are currently active

What properties are in escrow (under contract or pending)? 

There are none right now

 

What properties have sold in the past 60 days? 

Click here to see properties that have sold in the past 2 months

 

If you are thinking of selling your house in the next 2 years, please contact me. (Yes, I said the next 2 years.) Now may be the best time to get the most return on your investment. Need help determining how your home compares? That is where I come in!

 

I don't merely market, list, and sell your home. I am a consultant who helps you understand your options, helps create a plan that accounts for your particular wants and needs, and then executes the plan with a precision that exceeds your expectations. Call me at 949-444-1601 to find out more information and get the ball rolling.