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The market update for Orange California as of September 3, 2021.

Single Family Residential homes: The recent closing activity has the median list price to be $949,600 and an average price per square feet of $515. (DOWN from the last few weeks). The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Townhomes and Condos: The recent closing activity has the median list price to be $545,100 and an average price per square feet of $504. (DOWN from the recent weeks). In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. 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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