Now that we've had a chance to look at housing in 2023 it's easy to see why our experience of the real estate market felt so difficult. There were just so few homes to sell. In Newport Beach, in The Bluffs, the number of sales was historically low. Access the full sale sheet here.
While we know that our marketplace in Newport Beach is not as beholden to interest rates as the rest of the nation, with over half of sales all cash, we know that lack of inventory prevents many would be sellers from getting on the market.
https://youtu.be/6XG7c-ASalI?si=ISv7RR5UNE0vhXXm This report by Steven Thomas, who is an incredible real estate economist living and reporting locally here in Orange County, indicates that things should be looking up in 2024. Inventory seems to be climbing which should be good for everyone.
If you would like to sell your home, but have concerns, we would love to talk to you about how to make strategic plans to get the very most for your home and to have an easy transition to your next home. As always, please give us a call and we'll talk it all through.
Over the years, Kate and I have saved homeowners millions of dollars in taxes and other losses by advising them not to sell or to wait. Obviously, that's not our favorite outcome to these sorts of conversations but, it's good business for us. Your best move is our best move.
Caroline 949-892-0103 &. Kate 949-677-6658