December of 2022 saw new listings decrease by 26.3% compared to an already-low December of 2021. The pandemic not only led to a reluctance of selling big ticket items like cars and homes, but seemed to have many re-think their view of housing in general.
Although the median home price is showing a gain of 9.1% for Anaheim Condos and Townhomes, this can send the wrong signal that condo values increased in December. Watch my video as I detail real working examples of how many of the gains of early 2022 were already erased:
Condos and Townhomes are taking twice as long to sell compared to December 2022 as reflected in the table above. This metric uses closed sales — meaning this is showing what happened more than 30 days ago. When I’m looking at the pending sales numbers, I expect that number to rise even higher in the next months unless demand really starts bringing inventory levels down.
Below are the recent sales of Chapman Commons, The Domain, Harbor Lofts, Lewis and Mason, and Stadium Lofts:
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