Amid a sweltering heat wave, the Orange County housing market is red-hot too. Much like your valiant AC unit, home sellers and their agents are working overtime to meet a blaze of unforseen demand.
Last month, Orange County listings spent an average of 16 days on market. That’s a 36% decrease from July 2019. Sales prices are higher than ever as supply struggles to keep pace, and OC homeowners find themselves in an enviable position.
Today’s fast-paced market can be attributed to a few things. Record-low mortgage rates have empowered buyers, and social distancing has shifted their priorities. Pent-up demand is being released. Plus, real estate remains a relatively safe bet in a time of economic uncertainty.
Buyers want more space to cook, to school, to play and to relax. They want views of nature without leaving the house. Our newest listing certainly fits the bill.
Meet 2675 Riviera Drive.
A 13,000 SF estate in the ultra-exclusive Abalone Point (seen above) in Laguna Beach’s guard-gated Irvine Cove enclave, featuring unmatched views spanning nearly 300°.
See below for more info.
Whether you are in the market to sell or to buy, for an ultra-luxury oceanfront estate or a cozy suburban retreat, there is opportunity for everyone. But you have to be fast to make it happen.
If you’re interested in making a change to your living arrangements, or if you have a question about the market, please don’t hesitate to reach out. We’re happy to help.