Welcome to the latest Orange County real estate market report, presented to you by JTC Real Estate.
Orange County Housing Market Statistics
With a low supply and strong demand, the market has not been this hot since 2013.
While unemployment is still high and the overall economy is slowly crawling its way out of a forced stoppage, housing has been a bright spot with a “V-Shaped” recovery. It came roaring back and trends have emerged that pave the way to a strong finish to 2020 in Orange County.
The active listing inventory shed 55 homes in the past two-weeks, down 1%, and now sits at 4,590, the lowest level for a July since tracking began in 2004.
Note to Buyers & Sellers
Demand is at its hottest level since 2012.
Amid the lockdown, COVID-19 suppressed buyer activity and demand dropped to 1,008 pending sales in mid-April, a low last hit in 2008 during the Great Recession. Demand had doubled from its April lows by the end of May and had tripled by the start of July. Interest rates have continued to drop and have reached 3%, a record low. READ MORE
The Expected Market Time
The Expected Market Time will gradually rise. It will remain a Seller’s Market for the balance of 2020.
The Expected Market Time (the amount of time between hammering in the FOR-SALE sign to opening escrow) is currently at its lowest point of the year, 43 days, and has not been this low in July since 2005 READ MORE
1 Yr. Ago
|Avg. List Price||Sales-to-List|
|Overall Orange County||4,590||43||91|