Homes are Selling Fast in Mission Viejo
By John Alesi, (Orange County California Real Estate)
(Century 21 Award)
Homes are Selling Fast in Mission ViejoSince the end of 2016, inventory rates have been historically low. In all of Orange County, we have seen slightly more than 4000 active listings on the market when the norm should be 8000. While this indicates a seller's market, it also shows up in the time it takes to sell a home in this season.A year ago there were 74 homes for sale in Mission Viejo with a market time (Days On Market or DOM) of 82 days Average and 79 days Median. In comparing the last 30 days to one year ago, we find the the DOM has reduced significantly to 67 days Average and 36 Median. Wow! what a difference a year makes. Remember that Average is calculated by adding all of the Days on Market together and then dividing by the number of properties. The Median is the middle numbe...
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