October 2021 RSS Feed

Orange County Housing Report:  Luxury Soars

Luxury housing emerged from the lockdowns of COVID-19 with unbelievable strength and has reached unprecedented levels.

 A Hot Luxury Market:  In 2021, one in six closed sales were luxury.

In 2021, the real estate marked evolved further, from red hot to white hot. Overnight, the real estate industry had become accustomed to throngs of showings, multiple offers, and homes selling for more than their asking prices. A surprising twist was that the luxury housing market surged right along with the lower price ranges and at a record pace.

What sparked the wave of luxury sales? The run-up on Wall Street has certainly helped. After the S&P plunged 32% at the beginning of the pandemic in March 2020,…

Housing will shift to the Holiday Market in just 7-weeks and buyer and seller activity will plunge to its lowest levels of the year.

End of Year Expectations

Seven more weeks until the slowest season of the year starts, the Holiday Market.

From now through the week before Thanksgiving, it is the LAST HURRAH before housing transitions from the Autumn Market to the Holiday Market, the slowest time of the year for real estate in terms of supply and demand. The holidays are filled with distractions. As a result, the hunt for a home takes a back seat for many buyers and fewer homeowners take advantage of selling their homes regardless of how incredibly hot the rest of the year will be for real estate. The overall speed of the market cools…