Orange County's housing market remains highly competitive, supported by strong buyer demand and limited inventory. The county currently has a 2.58-month supply of inventory, reflecting a 2% increase from the previous month but a 13% decline compared to one year ago. While inventory has improved slightly in recent weeks, available homes remain limited relative to buyer demand.

A total of 2,831 new listings entered the market during May at a median list price of $1,295,000, providing buyers with additional opportunities. However, competition remains strong, as homes are moving quickly. Pending sales spent a median of just 18 days on the market, while properties are averaging approximately 15 days before going under contract.

The median sold price increased to $1,265,000, representing a modest 1% month-over-month gain. Sellers continue to receive strong offers, with homes selling at an average of 99.83% of their asking price.

Overall, Orange County remains a seller-favored market where limited inventory and consistent buyer demand continue to support home values and quick sales.