Lifestyle Residences for modern living.
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JUST LISTED – Downtown Anaheim Condo with Pool and Packing House View!
For my latest market update, I share a few key indicators of how the market has responded to the April interest rate hike:
“Days on Market” – this is how long a listing sat on the market before going under contract. While the sold listings have yet to reflect the impact, the pending sales are more of a reflection of what I’m seeing out there. Once the July and August numbers are in, I expect closed sales to reflect longer times on the market before selling.
Number of Cancelled / Expired Listings – for almost all of the buildings a specialize in, we’re going to see a higher amount of listings taken off the market compared to 2021.
Plan 5 within The Domain of Anaheim
1,319 square feet, 2 bedrooms, 2 baths
Open House Saturday and Sunday – July 23rd & 24th from 1:00 to 4:00 PM
421 S. Anaheim Blvd #3, Anaheim, CA 92805
Do you own a condo or townhome in Anaheim? Check out my latest July Market Report.
Click on the video above to see how long it’s taking to sell in your community: Chapman Commons, The Domain, Harbor Lofts, and Stadium Lofts.
While some communities are showing only a short time to sell, we can expect that number to take longer as inventory skyrockets due to seasonal cycles, higher interest rates, and some agents and their sellers being out of touch with the current market conditions.
Overall, the City of Anaheim saw its active inventory increase by 60% in May compared to the prior year.
More listings on the market gives the current pool of buyers more choices. Sellers might be tempted to simply list at the last price sold in their building. While that may have worked back in March, the market simply offers more selection where a superior home (or even brand new) may be available.
The Domain saw 4 active listings on the market during the weekend of June 11th. That was the first time 4 condos were listed at the same time in years. A total of 5 new listings hit the market for the last 30 days for The Domain. 2 listings have already exceeded 30 days on the market with one price reduction.
Throw in the effects of disclosing a litigation settlement (The Domain), a messy condo cert, or impending litigation (Harbor Lofts), then the need for a condo specialist really becomes crucial to maximize your price.
