No surprise that inventory is STILL declining in Orange County. If you are a buyer, you are very aware of that fact. The only reason that sales are declining is because there is just no inventory!
I have compiled the data for all resale Orange County single family homes, condos and townhomes from December 2011 to the end of December 2012. It is still an extreme seller’s market with just over a month’s worth of inventory. Inventory has dropped over 60% in the last 12 months. Everyone is hoping that sellers will begin to list as we head into spring, but you just can’t be sure. If inventory were to increase, it would be the first time in years that it has done so.
Check out the graphs below.
Here is the graph for all active, pending and sold homes in Orange County for the past 12 months: chart.
Here is the chart showing the price per square foot trend for all OC homes for the past 12 months: chart.
Here is the graph showing average days on market and the percentage of sold price to original sale price: chart.
Here is the chart showing months of inventory for all OC homes over the past 12 months: chart.
If you need info for your own city, please call me.
If you are considering selling your home and want to maximize the advantages of this amazing seller’s market, call me today! 949.525.5905.