Orange County Housing Market Summary: September 10, 2019

David Deem
714-997-3486
Dave@DeemTeam.com

• The active listing inventory decreased by 310 homes in the past two-weeks, down 4%, and now totals 6,997. It was the largest drop so far this year. Last year, there were 7,070 homes on the market, 73 more than today. Two years ago, there were 19% fewer homes on the market.

• Demand, the number of pending sales over the prior month, decreased by 20 pending sales in the past two-weeks, down 1%, and now totals 2,528. Last year, there were 2,162 pending sales, 14% fewer than today. Two years ago, demand was 4% stronger than today.

• The Expected Market Time for all of Orange County remained dropped from 86 to 83 days, a slight Seller’s Market (between 60 to 90 days). It was at 98 days last year.

• For homes priced below $750,000, the market is a hot Seller’s Market (less than 60 days) with an expected market time of 57 days. This range represents 38% of the active inventory and 56% of demand.

• For homes priced between $750,000 and $1 million, the expected market time is 66 days, a slight Seller’s Market. This range represents 19% of the active inventory and 24% of demand.

• For homes priced between $1 million to $1.25 million, the expected market time is 121 days, a Balanced Market.

• For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the Expected Market Time decreased from 149 to 146 days. For homes priced between $1.5 million and $2 million, the Expected Market Time decreased from 162 to 147 days. For luxury homes priced between $2 million and $4 million, the Expected Market Time decreased from 249 to 220 days. For luxury homes priced above $4 million, the Expected Market Time increased from 509 to 527 days.

• The luxury end, all homes above $1.25 million, accounts for 33% of the inventory and only 13% of demand.

• Distressed homes, both short sales and foreclosures combined, made up only 0.7% of all listings and 1.4% of demand. There are only 27 foreclosures and 23 short sales available to purchase today in all of Orange County, 50 total distressed homes on the active market, down two in the past two-weeks. Last year there were 56 total distressed homes on the market, slightly more than today.

• There were 2,871 closed residential resales in July, 5% more than July 2018’s 2,734 closed sales. July marked a 6% increase compared to June 2019. The sales to list price ratio was 98.3% for all of Orange County. Foreclosures accounted for just 0.5% of all closed sales, and short sales accounted for 0.24%. That means that 99.3% of all sales were good ol’ fashioned sellers with equity.

www.DeemTeam.com
DRE#01266522


Location: Orange, CA, USA

Comments

Post a Comment

Popular posts from this blog

Orange County Housing Summary:May 2, 2023

Image
David Deem 714-997-3486 Dave@DeemTeam.com   ·        The active listing inventory in the past couple of weeks increased by 34 homes, up 1%, and now sits at 2,076, this first substantial rise of the year. Nonetheless, it is the lowest level at the end of April since tracking began in 2004. In April, 49% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,983 less. Last ye ar, there were 2,104 homes on the market, 28 more homes, or 1% higher. The 3-year average before COVID (2017 to 2019) was 6,002, or 189% more. ·        Demand, the number of pending sales over the prior month, increased by 43 pending sales in the past two weeks, up 3%, and now totals 1,706, the lowest end-of-April reading since 2020 during the COVID lockdown. Last year, there were 2,154 pending sales, 26% more than today. The 3-year average before COVID (2017 to 2019) was 2,780, or 63% more. ·        With the inventory and demand rising at a similar rate, the Expected Market Tim
Read more

Orange County Housing Summary: June 27, 2023

Image
David Deem Broker Associate 714-997-3486 Dave@DeemTeam.com   ·        The active listing inventory in the past couple of weeks increased by 85 homes, up 4%, and now sits at 2,281. Regardless, it is the lowest level for an end to June since tracking began in 2004. In May, 45% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,879 less. Last ye ar, there were 3,491 homes on the market , 1,210 more homes, or 53% higher . The 3-year average before COVID (2017 to 2019) was 6,633, or 191% more, nearly triple. ·        Demand, the number of pending sales over the prior month, increased by 7 pending sales in the past two weeks, nearly unchanged, and now totals 1,602, the lowest level for an end to June since tracking began in 2004. Last year, there were 1,861 pending sales, 16% more than today . The 3-year average before COVID (2017 to 2019) was 2,679, or 67% more . ·        With the supply rising, the Expected Market Time, the number of days to sell
Read more

Orange County Housing Summary: September 20, 2022

Image
  David Deem 714-997-3486 Dave@DeemTeam.com          ·         The active listing inventory in the past couple of weeks decreased by 304 homes, down 2%, and now sits at 3,638, its lowest level since June. In August, there were 30% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 1,054 less. Last ye ar, there were 2,289 homes on the market , 1,349 fewer homes, or 37% less . The 3-year average prior to COVID (2017 to 2019) was 6,520, or 79% more. ·         Demand, the number of pending sales over the prior month, decreased by 75 pending sales in the past two weeks, down 4%, and now totals 1,756. It is still the lowest reading for mid- September since 2007. Last year, there were 2,623 pending sales, 49% more than today . The 3-year average prior to COVID (2017 to 2019) was 2,363, or 35% more . ·         With demand dropping faster than the supply of homes , the Expected Market Time, the number of days to sell all Orange County listin
Read more