Orange County Real Estate Market

By
Real Estate Agent with Surterre Properties

Thanks for taking time to read my real estate blog: I hope you find something useful here. Please don't hesitate to let me know if there is anything I can assist or provide you with.

One thing we all can agree on is that accurate, timely information is key to making a good decision. The below chart provides real-time market information for Orange County, California: includes Active Listings, Pending Sales and Sold Units, broken out by month.

Current as of 11/21/2007

http://www.bruceclarkhomes.com/pdf/2007_Monthly_APS_Orange_County_All.pdf

# Of Active Listings: 20,142
# Of Pending Sales:  2,169
# Of Units Sold:           647

The # of active listings is declining: this is typical at this time of year. We have experienced a nice 3 month trend in the # of pending sales (which will be reported in the # of Units Sold column the following month). Since we're not seeing a true correlation between the # of pending sales and units sold, it could be the fact that there is a greater # of escrows being cancelled. Another contributing factor could be that escrows are taking longer to close.

Please note: All reports presented are based on data supplied by the MRMLS, Orange County, Orange Coast, Pacific West, Downey, Rancho SE AOR, Laguna BOR, and Desert AOR or their MLSs. Neither the Associations nor their MLSs guarantee or are in anyway responsible for their accuracy. Data maintained by the Associations or their MLSs may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Comments (2)

Frank Verna
Frank Realty - Jupiter, FL
Broker / Owner
It's good to learn about other markets, Thanks Bruce, btw how are those Orange County Housewifes?
Nov 21, 2007 11:00 PM
Bruce Clark
Surterre Properties - Newport Beach, CA

Frank, hope things going well down in Florida. Are you seeing lots of short sales/foreclosures where you're at? We're getting our fair share here, but it is refreshing to see some lenders are now resetting/recasting loans back to the original money purchase rate. Hopefully this will result in less # of families losing their homes.

RE: OC Housewives

Gotta' admit to not meeting most of them, but I'm sure every affluent area has their share of people that have lots of leisure time available. Makes for good publicity, though!

Nov 22, 2007 04:55 AM