The key indicators for this month are the “Days on Market” for active listings and “Percent of Original List Price Received” for sold listings. These both show the significant slow down in the buildings Chapman Commons, The Domain, Harbor Lofts, Lewis and Mason, and Stadium Lofts which have led to lower values mostly due to the interest rates climbing about 7%.

While the numbers don’t show it just yet, I’m seeing townhomes having the highest drop in values the last few months. I’ve personally seen builders slash prices almost 10% on nearby communities with some instances of the new construction selling for lower than the comparable resale townhomes nearby. While I initially thought this was more of a product of trying to meet internal corporate goals or to free up cash, I’m seeing the consequences of townhomes and condos sitting on the market when they try to price at the last comparable sale from as recent as May or June.

In 2018, Real Estate supply peaked in Anaheim at over 20 months of supply. Watch my video to see where we are today for the Chapman Commons, Harbor Lofts, The Domain, Lewis and Mason, and Stadium Lofts. I highlight the effect of interest rates, the inventory comparison vs. the 2008 crash, new construction in the area, rental values, and other key metrics for your building.

While the graphs shown above show a very optimistic outlook for sellers, the smaller details are much more drastic when comparing the market to February. During those months when rates were around 3%, it was common to have every showing slot taken and long lines to enter open houses. Today, a busy day might be 2-3 showings. Far less, but any showing is better than zero showings.