Orange County Housing Summary: May 12, 2025
- The active listing inventory in the past couple of weeks increased by 282 homes, up 7%, and now sits at 4,468, its highest level since July 2020. Last year, there were 2,470 homes on the market, 1,998 fewer homes, or 45% less. The 3-year average before COVID (2017 to 2019) was 6,255, or 40% extra. From January through April, 23% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 3,306 less. Yet, 1,706 more sellers came on the market than last year, and 3,056 more compared to 2023.
Buyer demand, the number of pending sales over the prior month, remained unchanged at 1,546, its lowest May reading since tracking began in 2004. Last year, there were 1,759 pending sales, 14% more. The 3-year average before COVID (2017 to 2019) was 2,765, or 79% more.
- With supply surging higher and demand unchanged, the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, climbed from 81 to 87 days in the past couple of weeks, its slowest pace since November 2022. Last year, it was 42 days, more than twice as fast as today. The 3-year average before COVID (2017 to 2019) was 68 days, which is also much faster than today.
- In the past two weeks, the Expected Market Time for homes priced below $750,000 remained increased from 60 to 61 days. This range represents 16% of the active inventory and 22% of demand.
- The Expected Market Time for homes priced between $750,000 and $1 million increased from 42 to 64 days. This range represents 13% of the active inventory and 18% of demand.
- The Expected Market Time for homes priced between $1 million and $1.25 million increased from 59 to 60 days. This range represents 10% of the active inventory and 15% of demand.
- The Expected Market Time for homes priced between $1.25 million and $1.5 million increased from 58 to 73 days. This range represents 11% of the active inventory and 13% of demand.
- The Expected Market Time for homes priced between $1.5 million and $2 million increased from 94 to 96 days. This range represents 16% of the active inventory and 14% of demand.
- The Expected Market Time for homes priced between $2 million and $2.5 million decreased from 123 to 116 days. This range represents 8% of the active inventory and 6% of demand.
- In the past two weeks, the Expected Market Time for homes priced between $2.5 million and $4 million decreased from 187 to 158 days. For homes priced between $4 million and $6 million, the Expected Market Time increased from 174 to 181 days. For homes priced above $6 million, the Expected Market Time decreased from 584 to 382 days.
- Short sales and foreclosures combined, comprised only 0.1% of all listings and 0.4% of demand. Only two foreclosures and four short sales are available today in Orange County, with six total distressed homes on the active market, down three from two weeks ago. Last year, five distressed homes were on the market, similar to today.
- There were 1,863 closed residential resales in April, down 5% compared to April 2024’s 1,968 and up 3% from March 2025. The sales-to-list price ratio was 99.1% for Orange County. Foreclosures accounted for 0.1% of all closed sales, and there were no short sales. That means that 99.9% of all sales were sellers with equity.
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