Investing money in real estate is always a good idea. If you’re looking for a housing opportunity in California, you should definitely consider Orange County. However, before making any decisions, you must learn a thing or two about the current market situation. That’s why we recommend you start with exploring real estate trends in Orange County, CA. This is a good start if you have a bunch of questions. And we’re sure you do. You can always look for some useful information on the Internet. Also, we offer great assistance and advice. We prepared this updated guide on real estate market trends in Orange County, CA. So, keep reading to find out everything you need to know before taking this big step.
Real estate trends in Orange County, CA – updated housing data
Whether you decided to buy a house, move a business or you’re simply looking for an investment opportunity, Orange County is the right place for it. One of the reasons is record-low mortgage rates. Here is the list of some hottest real estate trends in Orange County, CA that you should pay attention to:
- Housing supply is low but demand is high: The inconsistency between housing supply and demand continues in 2021. This is not a new problem for Orange County. However, the inventory increased by 6% (144 homes) for the first time in 52 weeks. This may not seem like much, but when combined with the price reductions (24% of houses have had price decrease), it equals good news for investors. The average number of days on market in April was only 31!
- Median prices: The average sale price of a house in Orange County, CA in April was $892K. This is up by 20.5% compared to last year. The average price per square foot is $497 which is up by 16.1% since last year.
- Working from home affects the housing market: One of the newest market trends in Orange County, CA is increased housing demand because of the work-from-home setting. People need more space now that their office is in their house, so they are looking for larger homes.
Buy or rent?
Before moving in Orange County, a lot of people are asking themselves if it is better to buy a house or just rent it. In Orange County, monthly rent payment is likely to be less than a monthly mortgage payment for the same home. Renting is also more convenient than purchasing from a cash flow perspective. It is also less expensive than renting if you are only staying in the house for a short period of time. However, if you’re planning to stay here for a long time it’s definitely better to just buy a house. The mortgage will always be the same, but rent will most definitely increase over time. So, think carefully about what you actually want before making any decision.
Choose the best city for you based on real estate trends in Orange County, CA
When you decide to invest in real estate, you need to make sure it will be the money well spent. Whether you’re relocating with a family, alone or you’re moving a business, you need to prepare for the move of your life. That means choosing the right city for you. Gather information about the cost of living, house prices, average rent, safe neighborhoods, best schools, etc. Once you read up on these kinds of things, you’ll be able to make an educated decision. Check out the list below to see what are the best of best in Orange County, CA:
- The most affordable city: Based on people’s vote, the most affordable place in Orange County, CA is Santa Ana – a beautiful city with a diverse cultural blend; according to the newest real estate trends in Orange County, CA the median home cost in Santa Ana is $557,300
- The safest city: When it comes to safety, a small suburb of Coto de Caza takes the win – the violent crimes per 1000 people is 0.06; this is great news for families that look forward to quiet suburban life; if you’re more of a big city person, then Irvine is the right city for you – it has been voted the safest big city in the country for the past 9 years;
- The best place to start a business: Yet again Irvin is on the map! As the country’s rapidly growing job market, it attracts a lot of new business and start-up companies. It also houses a lot of giants such as Blizzard Entertainment and Johnson & Johnson Institute. Google, Amazon, and Toshiba are strongly present in the city as well.
Hire a moving company – be one step closer to your new home
Now that you consulted your agent about real estate trends in Orange County, CA, and bought your dream home, it’s time to move. Packing and transferring your belongings is not an easy thing to do. Therefore, we recommend hiring professional help such as Mod Movers CA to make your move trouble-free. It’s crucial to hire reliable movers in order for your relocation to be quick, safe, and stress-free.
Moving your belongings safely is a job for good residential movers. These professionals can transfer everything and will take care of your stuff carefully. With all the expertise they have, you won’t have to worry about anything during this stressful process. They offer a bunch of different services. Storage solutions, loading&unloading, packing&unpacking and furniture moving are just some of them. You just have to pick the one you need and let them take care of the rest. Once you are settled in your new home, they will provide you with the storage unit for all the things you no longer need.
Have real estate trends in Orange County, CA met your expectations?
Deciding to invest in real estate is not a joke. Before dropping some serious cash, you need to inform yourself properly. After reading up on the hottest real estate trends in Orange County, CA what are your final thoughts? We hope you found this article informative and you’ll consider it all before making any major decisions. Happy investing!