Here is your Orange County Housing Market Update for September 2024.

The market has changed quite a bit since the spring selling season. Let’s look at the data for our September housing market update…

New Listings = 2,071 new listings hit the market last month. Lower than the previous month, but that is expected. It'll also continue for the rest of the year. We are seeing fewer new homes hit the market, but let’s see how that affects the available listings…

Available Listings = 4,464 available listings in Orange County right now. This number has been steadily climbing all year. Although only 220 more listings than last month, we're up from a low of 2,761 that we saw in December of 2023. This is GREAT for the health of the market. We have had too low of inventory for way too long.

Days of Market = Days on market is still low at 13 until a home goes under contract. This feels a bit misleading because there are a lot of homes that are sitting on the market longer. But when a home "looks good" and is "priced right" it sells fast. This hasn't changed, even though we are trending upward. I think we'll continue to see this trend upward until the new year.

Price = Down from last month, mostly flat. $1.16m is the median home price, down from $1.17m last month and a high of $1.2m. No surprise here. We'll continue to see prices soften through the end of the year. This is the window of opportunity we've been talking about.

Interest Rates = 6.43% interest rates. Down a bit from last month's market update, but we're expecting to see more drops this month.

Summary = The window of opportunity is this winter. If you've been following our market updates, you've heard me say this.

свернуть