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The market update for Orange California as of May 4, 2021.

Single Family Residential homes: The recent closing activity has the median list price to be $964,400 and an average price per square feet of $491. (DOWN 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. Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Townhomes and Condos: The recent closing activity has the median list price to be $550,200 and an average price per square feet of $480. (UP from the recent weeks). The market continues to obtain higher valuations for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

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