It’s been the same story the past months ever since the interest rate hike hit us last year. However, we are starting to see signs that the market is getting active again:

• New listings are almost back on last year’s level. While low inventory is good for sellers, having it too low means that many won’t have a home to buy after selling.
• We are seeing pending sales selling quicker. Back in late December and early January, pending sales were few and almost all took well over 30 days.

The City of Anaheim offers transportation within the city via FRAN and ART. FRAN is free to use with an app while the ART system has a more wide route at a low cost.

Meet FRAN – CtrCity, Anaheim’s Free Rides Around the Neighborhood from Anaheim Resort Transporatation on Vimeo.

FRAN is right outside of the entrances of The Domain and Harbor Lofts, making their Downtown Style living convenient without worrying about parking fees or traffic.

Let’s start off the Anaheim Downtown Condo Update with some good news. Rates continue to trend downward as some buyers and agents have report locking in their rates in the 5’s. Personally, our team held an Open House last weekend on a listing that came back on the market and it was even busier than when the listing first launched back in December.

All of this impacts Chapman Commons, The Domain, Harbor Lofts, Lewis + Mason, and Stadium Lofts.

Fellow local agents and buyers have also reported higher traffic at Open Houses, more showings, and even some bidding wars. The latest pending sales are starting to show life. At the time of writing this report, 2 condos had went into escrow in single digit days on market. This weekend, we’re launching one of the most desired floorplans in The Domain and we’ll see how the market responds.