Aliso Viejo California Real Estate

ALISO VIEJO, Calif. - Oct. 17, 2022 - PRLog -- Per Kamran Montazami your top Aliso Viejo Real Estate Agent.  Proudly serving all of Southern Orange County Ca. since 1988.

The Aliso Viejo California residential real estate market is strong now, but it could soon experience a bit of a cooldown. As residents continue to relocate out of the state, and new people come into the state, this is one of the more affordable and better areas. There are just under one hundred homes for sale, ranging from $430,000 to $2.3 million. Presently, the median listing price in the area stands at $885,000, with a median list price per square foot of $612, and a median selling price of $876,000. These figures represent an increase of 18% in a year-over-year comparison.

Additionally, the sale-to-list price ratio is at an unbelievable 100%, meaning sellers are getting their asking prices in purchase transactions. Speaking of sellers, this is a seller's market and that trend may hold for quite some time into the future. Meanwhile, the median days on the market stand at just 52 days or slightly less than two months. This represents some of the shortest median days on the market in the past 3 years when the highest was near 70 days back in 2019.

While things are looking good at this time, there are existing and emerging factors that could slow the local residential real estate market down in Alyssa Viejo. For instance, persistent inflation threatens to continue to weaken buyers purchasing power, making people leery of entering the market. Additionally, with interest rates set to rise incrementally over the coming months, new mortgage applications will fall, along with refinances.

Although, these trends could be somewhat helpful and healthy for the local residential real estate market, saving it from overheating, or worse yet, creating an artificial value bubble. Overall, the local real estate market is quite healthy. Even if there is a downturn in activity, it should just bring the market back into balance, with parity returning between buyers and sellers. Plus, the traditional buying and selling season is right around the corner in the new year.

For any questions or interest in buying or selling in Aliso Viejo or Southern Orange County Ca. Please see  https://kamranrealestate.com/