By August 2021, the Orange County market is showing the first subtle signs of a tipping point -- days on market are lengthening, price reductions are increasing, and buyer leverage is slowly returning after months of frenzied seller dominance.
Signs
- Longer days on market (12-15 vs. 8-10)
- More price reductions (15% vs. 5%)
- Less competition (2-3 offers vs. 5-10)
- Seller negotiation (possible)
Market maturing.
Appraisal Impact
With competition moderating, buyer power increasing.
Not yet obvious in values, but trends shifting.
Forecast
Expected: market will balance further by late 2021/early 2022.
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Market tipping? Subtle shifts beginning. Contact me.