                   
David Deem
Broker Associate
714-997-3486
- The active listing inventory in the past couple
of weeks increased by 236 homes, up 7%, and now sits at 3,419. In February, 21%
fewer homes came on the market compared to the 3-year average before COVID
(2017 to 2019), 673 less. Yet 394 more sellers came on the market this February
compared to February 2024. Last year, there were
2,084 homes on the market, 1,335 fewer homes, or 39% less. The 3-year
average before COVID (2017 to 2019) was 5,286, or 55% extra.
- Demand, the number of pending sales over the
prior month, increased by 96 pending sales in the past two weeks, up 6%, and
now totals 1,665, its highest level since last May. Last year, there were 1,538
pending sales, 8% less. The 3-year average before COVID (2017 to 2019)
was 2,517, or 51% more.
- With supply rising slightly
faster than demand, the Expected Market Time, the number of days to sell all Orange County listings at the current
buying pace, increased from 61 to 62 days in the past couple of weeks. Last year, it was 41 days, substantially faster than
today. The 3-year average before COVID (2017 to 2019) was 63 days, similar
to today.
- In the past two weeks, the Expected Market Time
for homes priced below $750,000 remained unchanged at 46 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 39 to 40 days. This range
represents 13% of the active inventory and 20% of demand.
- The Expected Market Time for homes priced
between $1 million and $1.25 million increased from 39 to 42 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 decreased from 52 to 51 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 remained unchanged at 69 days. This range
represents 14% of the active inventory and 12% of demand.
- The Expected Market Time for homes priced
between $2 million and $2.5 million decreased from 75 to 73 days. This range
represents 7% of the active inventory and 6% of demand.
- The luxury end, all homes above $2 million, accounts
for 29% of the inventory and 12% of demand.
- Distressed homes, both short sales and
foreclosures combined, comprised only 0.1% of all listings and 0.3% of demand. Only
two foreclosures and two short sales are available today in Orange County, with
four total distressed homes on the active market, down one from two weeks ago.
Last year, five distressed homes were on the market, similar to today.
- There were 1,465 closed residential resales in February,
up 3% compared to February 2024’s 1,425 and up 16% from January 2025. The
sales-to-list price ratio was 99.6% for Orange County. Foreclosures accounted
for 0.1% of all closed sales, and Short sales accounted for 0.3%. That means
that 99.6% of all sales were good ol’
fashioned sellers with equity.
DRE#01266522
