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DECEMBER 7, 2023, ORANGE COUNTY REAL ESTATE MARKET REPORT - GETTING AROUND THE HOLIDAY REAL ESTATE MARKET

Thursday, December 7, 2023   /   by Bob Cowan

DECEMBER 7, 2023, ORANGE COUNTY REAL ESTATE MARKET REPORT - GETTING AROUND THE HOLIDAY REAL ESTATE MARKET

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December 7, 2023, ORANGE COUNTY REAL ESTATE MARKET REPORT - Getting Around The Holiday Real Estate Market



Welcome to my thorough December 2023 Real Estate Market Update for Orange County! Here is the guide for the latest trends and insights in our local real estate market. 



The Unveiling of the Holiday Market


A subtle change in the characteristics of the real estate market is expected with the arrival of the Holiday Market. There is a pattern that shows a decrease in inventory across all property types and price points. Under-contract and pending transactions exhibit a little increase from the prior week but a considerable decline from the previous month at the same time. Days on Market have stabilized, reflecting a state of balance in the current state of the market. The decrease of houses with price decreases is noteworthy.


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Monthly Ebb and Flow

These data results are consistent with the Christmas season's regular tendencies. There is a steady upswing and downswing in real estate sales as the holiday mood descends upon local communities. A planned retreat by some sellers during this period, awaiting a recovery in the New Year, is reflected in the declining inventory.

The Major Players in Real Estate Business

Real estate investors are strong contenders in this seasonally weak market. When a buyer or seller negotiates the intricacies of real estate during the holidays, they are exhibiting an extraordinary level of devotion. It's a calculated approach that takes advantage of the reduced competition to provide people with a defined objective a distinct edge.

The Real Estate Market Suggestion

We suggest doing real estate deals around the holidays as an implicit agreement. Whether you are buying or selling, the reduced competition creates the conditions for more advantageous negotiations. Now is the perfect opportunity to take advantage of the state of the market.

Taking a Look Ahead

A bright future is shown by the crystal ball of real estate forecasts. Forecasts suggest that mortgage rates may decline in the upcoming year. This is positive for the market since it suggests that there will be more inventory available, which will lead to a rise in overall transactions. It becomes increasingly important to keep aware of the changing environment as we prepare for these changes.

Moving Forward During The Holidays

For real estate fans, Orange County's Christmas season offers a distinctive setting. Now is the moment for the serious players to step up and take advantage of the less competition to mold their real estate careers. The New Year presents the possibility of changing dynamics in the market, with declining mortgage rates possibly signaling the start of a period of more chances. Keep yourself well-informed, be tactical, and use the holidays as a blank canvas to illustrate your real estate goals.

 

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  bob cowan, your home sold guaranteed, mission viejo, dana point, platinum living realty, orange county, december 2023

Platinum Living Realty
Bob Cowan
120 Newport Center Drive
Newport Beach, CA 92661
949-441-9918
DRE# 01970237

Based on information from California Regional Multiple Listing Service, Inc. as of July 15, 2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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