Talega’s Real Estate Market Is Still Hot!
Just like the weather in Southern California, our real estate market typically cools down as we head into autumn. As you can see in the charts on the GREEN sheet, demand has slightly declined but overall it is still very high for this time of year. Why? The reasons are simple and they’re good news for sellers: Our market is still being fueled by the combination of low interest rates and a large number of buyers relocating to Orange County.
Reviewing the charts, you will also see that the supply of homes for sale is declining, which is keeping a large spread between supply and demand and fueling the hot real estate market. At the time of this publication, Talega had for sale: Three condos, three homes under $1 million, six homes between $1 and $1.5 million, and two homes over $1.5 million. That is 14 active listings in all of Talega, which is why we see prices escalating to record levels.
For years Talega has had very slow growth year over year, but 2020 is shaping up to be one of the best growth years in more than a decade. The complete shift in where people want to live and work has had a tremendous impact on Talega’s growth and popularity. I expect this trend to continue through 2021 based on the numbers and demand that we are seeing in the marketplace.
To see these charts and learn more about the current market in Talega, check out this month’s GREEN sheet!
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