For those considering buying or selling a home in Orange County, understanding current market conditions is essential to making informed decisions. This update provides a snapshot of key housing statistics and their implications for timing, pricing, and strategy in the current real estate landscape.

With the current months of inventory at 2.94, Orange County is experiencing a seller’s market. This figure, below the 4-month threshold, indicates that demand is outpacing supply, a scenario that typically benefits sellers. For buyers, this means facing competition and potentially limited choices. Acting swiftly and decisively can be crucial in such an environment.

The inventory trend shows a 5% increase over the past month and 38% over the past year. While these numbers suggest a gradual rise in available homes, the market remains tight. Buyers might find slightly more options now compared to last year, but the pace of growth suggests that this is still very much a seller's market. Sellers can continue to expect favorable conditions, although being mindful of these trends can help in setting competitive pricing.

Homes in Orange County are selling for about 99% of their asking price, indicating strong demand with little room for negotiation. The median days on the market is just 16, underscoring a fast-paced environment where homes sell quickly.

The median sold price is currently $1,250,000, reflecting the desirability and competitive nature of the region. Both buyers and sellers should use this figure as a benchmark for evaluating property values.

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