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About the Orange County Real Estate Index |
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The Orange County Real Estate Index (OCREIndex), is an indicator of the intensity of buyer competition for listed residential properties at the current time (a snapshot of conditions) in Orange County California. Higher numbers indicate more buyer competition for each home on the market; lower numbers mean less intense, lower levels of buyer competition for each listed home. This measure includes single family homes and condominiums.
How to use the Orange County Real Estate Index Home Buyers Information:The Orange County Real Estate Index tells you how the market is currently. Are there lots of buyers in your price range? How about in the town or city you fancy? Or, are buyers few and far between? This is information you want to know before you enter today's market for Orange County homes. A high 'Index' number (above 1.25) means: expect to compete in multiple offer situations on attractive homes that are reasonably priced. A low number (below .80) means: expect to be able to bargain with the seller on price, terms, and inspection results. Home Sellers Information: The Orange County Real Estate Index tells you what to expect in today's market. Are there lots of buyers swarming around homes similar to yours? What about buyers in your neighborhood and town? Just how many buyers are out there right now for homes in your price range and area? A high 'Index' number (above 1.25) means: you expect to get a great reaction with possible multiple offers and buyer bidding when you put your home on the market. This is true IF (and this is a big IF) your home is in good condition, and IF you price it reasonably. A low 'Index' number (below .80) means: expect to be on the market for awhile before receiving an offer, and know that when it comes, it will likely be for less than your asking price. Be prepared for the buyer to bargain about price, terms and inspection results.
Index Notes: High OCREIndex number indicates a “Sellers Market" (1.25+) Low OCREIndex number indicates a “Buyers Market" (.80-) An OCREIndex number close to (1.00 ) indicates a “Balanced Market.”
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