December’s real estate market for Orange slowed slightly since November although it remains fairly consistent for the year. The median sales price dropped 3.66%, from $410,000 to $395,000, however, it was up 7.48% since January. The number of houses sold also dropped from 11 sold in November to 8 in December. This is consistent with the decline in both the number of active listings and the number of new listings to enter the market for the month. The days on the market also increased from 34 days in November to 94 days in December, however, this is still lower than the 94 days in October. Inventory remains low which is reflected in the sharp drop in the months of supply, from 4.2 months to 2.9. This puts Orange solidly in a sellers-market, as buyers have fewer houses to choose from. The interest rates continue to remain low, with only a slight increase to 3.72% by the end of December. If you have any questions, or if you know anyone who is thinking of buying or selling real estate, I’d be happy to speak with you.
12 Month Sales Activity
Housing Stats
(change from previous month)
| Median Sale Price: | $395,000 |
| change: | -3.66% |
| YTD change: | 7.48% |
| Units Sold: | 8 |
| change: | -27.27% |
| Active Listings: | 35 |
| change: | -28.57% |
| New Listings: | 5 |
| change: | -28.57% |
| Days on Market: | 63 |
| change: | 85.29% |
| Months of Supply: | 2.90 (Seller's Market) |
| change: | -30.95% |
December Single-Family Home Sales
(OLP: original list price • LP: list price • SP: sale price • DOM: days on market)
| Address | Style | sq ft | BR | BA (f/h) | OLP | LP | SP | SP/OLP | DOM |
| 130 Cricket Lane | Cape Cod, Ranch | 3,004 | 3 | 2/0 | $382,000 | $382,000 | $382,500 | 100% | 68 |
| 660 Brentwood Rd. | Ranch | 1,812 | 3 | 2/0 | $395,000 | $395,000 | $395,000 | 100% | 5 |
| 487 Peck Lane | Colonial | 2,066 | 4 | 2/1 | $520,000 | $485,000 | $444,400 | 85% | 140 |
| 553 Howellton Rd. | Ranch | 2,448 | 3 | 2/1 | $379,900 | $374,900 | $373,000 | 98% | 46 |
| 527 New England Lane | Colonial | 2,214 | 4 | 2/1 | $429,900 | $415,900 | $400,000 | 93% | 58 |
| 322 Ann Rose Dr. | Ranch | 2,370 | 4 | 2/0 | $429,000 | $429,000 | $395,000 | 92% | 45 |
| 823 N. Greenbrier Dr. | Ranch | 1,860 | 4 | 2/0 | $210,000 | $210,000 | $199,500 | 95% | 102 |
| 411 Fairlea Rd. | Ranch | 2,640 | 3 | 2/1 | $550,000 | $550,000 | $485,000 | 88% | 95 |
| Units Sold: 8 | $412,000 | $405,450 | $395,000 | 94% | 63 |
Sales Trends: January-December
Most In-Demand Home Features:
Curious about which home features are most important to buyers? A recent survey by Porch.com reveals that the number 1 most sought-after home feature amongst buyers is a back porch or deck. Close 2nd and 3rd were a newly renovated kitchen and hardwood flooring. The ever-popular open-floor plan came in at a surprisingly 5th on the list trailing behind a finished garage. Other desired features included a finished basement, natural light, newly renovated bathrooms, energy efficiency and newly renovated bedrooms. The back porch or deck was the number one feature for baby boomers, generation x and millennials alike. On average, buyers were willing to pay between an additional $2,532 – $4,570 more than their budget for homes with the features they most desired.
