April 2019 Orange County Housing Report

    April 2019 Orange County Housing Report from Lawyer’s title.
    • It is NOT a Buyer’s Market. It is not even a Balanced Market. Currently, it is a slight Seller’s Market. That means that when a home is accurately priced, it will sell very quickly.
    • The active listing inventory increased by 228 homes in the past two weeks, up 3%, and now totals 7,413, the highest level since September 2014. Last year, there were 5,730 homes on the market, 1,683 fewer than today.
    • There are 29% more homes than last year.
    • Demand, the number of pending sales over the prior month, increased by 2 pending sales in the past two-weeks, nearly unchanged, and now totals 2,655. Last year, there were 2,726 pending sales, 3% more than today.
    • The Expected Market Time for all of Orange County increased from 81 days two weeks ago to 84 days today, a slight Seller’s Market (between 60 to 90 days) and the highest level for this time of the year since 2011. It was at 63 days last year.
    • For homes priced below $750,000, the market is a slight Seller’s Market (between 60 and 90 days) with an expected market time of 61 days. This range represents 39% of the active inventory and 54% of demand.
    • For homes priced between $750,000 and $1 million, the expected market time is 63 days, a slight Seller’s Market. This range represents 18% of the active inventory and 24% of demand.
    • For homes priced between $1 million to $1.25 million, the expected market time is 93 days, a Balanced Market.
    • There were 2,558 closed residential resales in April, 2% fewer than April 2018’s 2,614 closed sales. April marked a 13% increase from March 2019. The sales to list price ratio was 97.9% for all of Orange County.

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