Orange County CA home selling market update shows that buyer demand has decreased since March of this year.  Number of homes for sale are up, so buyers have better choices.

Orange County now has 5,882 homes listed for sale – as compared with March 15 this year during the hottest selling time when only 3,199 homes were listed.

Expected market time at Orange County is now about 2.3 months (theoretical average time it would take to sell all homes now on the market at current rate of sale).

Irvine CA is the largest market for home selling at Orange County.

Irvine home sales were lightening fast during March this year, and prices jumped.

While even Irvine home selling has slowed during November, this is probably because of normal market moderation during holiday seasons.

Irvine has 493 homes now listed for sale and average market time of about 3.2 months (theoretical average time it would take to sell all Irvine homes now on the market at current rate of sale)

Irvine has sold 173 homes so far during November 2013, and average sold price has been $784,736.

74 percent of the Orange County homes for sale listings are in range of under $1 million where it’s still a market favoring sellers – while only 11 percent of those for sale are above $2 million where sales market time is much slower.

Orange County homes for sale priced between $1 million and $2 million have expected market time of about five months, which is balanced and not favoring sellers or buyers.

Newport Beach has 299 homes now listed for sale – and average market time of 4.82 months, which is balanced.

63 Newport Beach homes have sold so far during November 2013, and average sold price has been $1,845,022.

Orange County home selling markets have softened, and buyer demand is down 20 percent this month November 2013 – as compared with March of this year 2013.  However, average market time is 2.56 months, which still favors the sellers.

Source of some information is CRMLS and data image is www.ReportsOnHousing.com.

Connect with us about the Orange County CA home listing and selling process.

By Harrison K. Long – Professional real estate representative and Realtor, Coldwell Banker Residential Brokerage, Orange County, CA – CAL BRE 01410855 – OCHomeValueGuide.com

About the author

Harrison K. Long

Professional real estate representative, Realtor and broker associate, Evergreen Realty HomeSmart

I provide professional service and representation with advocacy for real estate clients - involving property at Newport Coast, Newport Beach, Irvine, Laguna Beach, Laguna Niguel, Costa Mesa, Huntington Beach, and Orange County real estate - helping people and investors with their best decisions about real estate - advocating for our friends and clients to make sure they get what they expect from the real estate transaction.

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