Ugh, more mind-boggling figures from the number-crunchers at DataQuick. Orange County’s April home sales are up 27.4 percent from April 2012. Southern California’s average sales were up 23.4 percent from April 2012. And from just March 2013, the sales prices jumped 8 percent in Southern California.
According to DataQuick, April was the 14th consecutive month in which California’s median sale price rose year-over-year.
Once again, this is more good news for sellers, and more bad news for buyers. Buyers, if wanting to get in to the market, need to prepare for the new normal of multiple offers and bidding wars and need to formulate strategic plans with their Broker to gain traction against the all-cash offers flooding the marketplace. Sellers have it a little easier right now, but need to be highly cautious and diligent in the sale… a hot market is a rip time for mistakes in the transaction due to everyone moving a little faster than necessary. Sellers – slow down and ensure you have proper disclosures and a knowledgeable Broker who’s going to protect you!
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