Selling a home? Get a free home value report
Buying a home? Search all homes for saleIn Orange County, we currently have 7,915 active listings, and in the desert there are 5,540 listings for sale.
As for recent closings and new escrows, there are 3,183 in Orange County. That’s the highest it’s been since October of 2012. The desert has 1,587 homes under contract. Recent sales in Orange County are at 2,752, and the desert had 887 listings sell.
Inventory is low in Orange County, with only three months available. That means if no other homes came on the market, it would only take three months to sell all of the current inventory. A balanced market usually has four to six months of inventory, so Orange County is in a bit of a seller’s market. On the other hand, the desert has 7.5 months, placing it in a slight buyer’s market.
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Now is the time to sell - no one knows what will happen come November.
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The luxury market in Orange County consists of homes sold at $1.25 million or higher, and this year, that market segment has an all-time record of 821 sales. People think that the luxury market is slow when in reality, this year is a record-breaking sales year. However, the inventory levels are higher in the luxury market, which gives people the wrong impression. Since inventory is on the rise in this market, sellers have a bit more competition and have to work a bit harder to make that sale.
In the desert’s luxury market, we’ve had 240 sales so far this year. Their inventory is quite a bit higher, so that market is a bit flat at the moment.
We are heading into the summer market, but this is the selling season. Price your home correctly and it will sell. People tend to think that in the summer, sales will pick up in Orange County and slow down in the desert. That’s not necessarily true, as summer comes with certain distractions such as vacations, hiking, and traveling.
We’re going to see a lot of influx in the market over the next couple of months, so now is the time to sell. Price your home correctly and get it sold because come election time, no one knows what will happen in the market.
