Real Estate on the Street

I’ve been meaning to start this type of blog for some time, always trying to figure out what’s the best way to begin. My intent with this blog series is to write an anecdotal account of how real estate is in my day to day.

Instead of continually procrastinating. I’m just going to write a few bullet points occasionally in order to have some sort of record.

  1. Things have significantly slowed down. Offers are typically coming in at list price or just under.

  2. Even rentals are slow!

  3. Rates currently hover around the high six and low sevens.

October 2021 Irvine Rental Market

Data set - Irvine rentals listed on CRMLS

Days on market y-axis on left. Right side showing pricing. X-axis will show time.

Thoughts and opinions -

Typical up and down days on market hovering between 15-35 days due to seasonality. Current pandemic issues of impacted housing cause a bit of a crunch with increased pricing and lower days on market in 2021.

We’ve had two units up for lease in Irvine in the last two months, we have over 10 applications for both properties.

Irvine chart October 2021

Orange County SFR Lease Price and Days on Market - June 2021

Green line indicating median price, blue line indicating days on market.

Analysis -

Due to the housing crunch, many renters are being displaced due to the investors selling their homes during the Sellers’s Market of 2020-2021. This is resulting in multiple applications to properties and shorter days on market and an increase in median lease price in Orange County.

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Just listed - 1103 N Del Sol Lane, Diamond Bar

Just listed this wonderful home in Diamond Bar. This spacious single family home sits on a lot of over 6500sqft. It offers three beds and two baths. Please DM for details.

#anthonytheagent #dre1934393 #thebrokeredge #realestate #ocrealestate #realtor #losangelesrealestate #diamondbar #justlisted

Del Sol.jpeg