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The market update for Orange California as of March 2, 2021.

Single Family Residential homes: The recent closing activity has the median list price to be $1,037,500 and an average price per square feet of $481. (UP from the last few weeks). The market has achieved a relative stasis point in terms of supply and demand - conditions don’t seem to be getting hotter or cooler. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as a result.

Townhomes and Condos: The recent closing activity has the median list price to be $520,100 and an average price per square feet of $430. (UP from the recent weeks). The market continues to obtain higher valuations for several weeks. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

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