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The Orange County housing market continues to transition—caught between rising supply and hesitant demand. Many sellers are still waiting for activity to pick up, while buyers are cautious in the face of higher mortgage rates and increasing inventory.
What We're Seeing:
→ Active listings have climbed to 5,245 homes, the highest level since 2019
→ Demand has dipped slightly—now at 1,556 pending sales
→ Expected Market Time has risen to 101 days, tipping the market further in buyers' favor
→ Luxury inventory is sitting longer: 237 days for homes above $2.5M, 388 days for $6M+
→ Many sellers are still not pricing for the shift, despite sluggish showings and longer wait times
Insights That Matter:
▪ A whopping 36% of active listings have been on the market for more than 60 days
▪ Only 17% are under contract, compared to 30–40% in a hot market
▪ Most homes are not overpriced by hundreds of thousands—they’re off by 5–10%, which is just enough to stall offers entirely
▪ June saw 850 price reductions—and July followed with 743, revealing clear buyer resistance
The Bottom Line:
This is a slower, more deliberate market. Proper pricing is everything. Sellers who adjust to today’s conditions—rather than hoping for yesterday’s momentum—will move forward. For buyers, this is an environment rich with opportunity and negotiation leverage.
📲 If you'd like to discuss what this means for your home or investment strategy, I’m here: 949-463-0400 - Doug