Orange County Realtor Brian Liberto Talks 2016 Market Trends

Market Update with Brian Liberto of Sotheby’s International Realty

Written By: Tamara Philips Sotheby’s International Realty

With Orange County as a top performing market for 2016 thus far, we sit down with real estate professional Brian Liberto of Sotheby’s International Realty to give us an update on the current residential market and emerging markets to look out for as we move closer to 2017.

Question: How was Quarter 2 for the Orange County residential market compared to Quarter 1?

Brian Liberto: Q1 was was strong but most of the sales were carry-overs from October and December. Q2 was very strong—demand still high and supply was low. Prices are at an all-time high with the average single family residence in Orange County at roughly $689k.

Q: And how do you foresee it changing for Q3?  

BL: I think you will see mixed results in different markets across Orange County. As the luxury market is still strong as we have seen the largest number of trades over $10 million this year in Newport Beach. But conversely, I think you will see some things cool off after July, as prices can’t continue to go up in the low/mid level markets in Orange County as affordability becomes an issue.

Q: Which California markets do you see performing the strongest for 2016 thus far?

BL: Coastal cities—anything with a view of the bay/beach—will rise above all other areas. For example, areas like Lido Isle, Balboa Peninsula, Corona Del Mar, and Eastside Costa Mesa. Along with any new construction and any entry level price points in any city of Orange County, the market is moving very fast.

Q: What are the most up-and-coming neighborhoods in SoCal?

BL: Eastside and Westside Costa Mesa
Lido Isle by the new Lido Village
Downtown Huntington Beach by the Pacific City project
Balboa Peninsula and Balboa Marina

Coming Soon: This new construction in Newport Heights is a six bedroom, five bathroom and 6000 square foot dreamy, modern home with ocean-bay views from every floor.

2936 Cliff Dr.
Newport Beach, CA 92663

Hom Sotheby’s International Realty
Brian Liberto
BRE# 01473233
714.931.1387
www.brianliberto.com
What’s Happening With the OC Housing Market? Brian Liberto Tells Us!

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Tamara is SoCal born and bred with Dutch roots. With an English degree from Vanguard University, she is thrilled to be part of the LOCALE editorial team. She enjoys reading, eating green bell peppers, petting other people's dogs, and cooking/baking while singing into a kitchen spoon to Broadway show tunes.

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