Orange County Housing Market Report: August 2015

granite_countertopsHistorically, properties in this market sell at a 0.6% premium. Today’s discount is 3.2%. This market is 3.8% undervalued.

Median home price is $586,500 with a rental parity value of $595,600. This market’s discount is $9,100.

Monthly payment affordability has been worsening over the last 3 month(s). Momentum suggests worsening affordability.

Resale prices on a $/SF basis increased from $380/SF to $382/SF. Resale prices have been rising for 6 month(s).

Over the last 12 months, resale prices rose 2.9% indicating a longer term upward price trend.

Median rental rates increased $24 last month from $2,674 to $2,698. The current capitalization rate (rent/price) is 4.4%.

Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.

Market rating = 8

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