JULY-AUGUST 2022 ORANGE COUNTY MARKET STATS

JULY-AUGUST 2022 ORANGE COUNTY MARKET STATS

Existing SFR Home Sales: Number of Single-Family Residence (SFR) homes sold during the month.

  • A negative % change from last year means that there were fewer homes sold compared to same time last year.
  • A positive % change from last year means that there were more homes sold compared to same time last year.

Active Listings: Number of homes available for sale during the month.

  • A negative % change from last year means that there were fewer homes available for sale compared to same time last year.
  • A positive % change from last year means that there were more homes available for sale compared to same time last year.

Existing SFR Median Price: The median price of Single-Family Residence (SFR) homes sold during the month.

  • A negative % change from last year means that homes were less expensive compared to same time last year.
  • A positive % change from last year means that homes were more expensive compared to same time last year.

Median Days on Market: The median of the number of days properties were on the market before going Pending.

  • This is a good indicator of buyer demand in a given market. Homes taking longer to sell indicates slower demand from buyers while homes selling more quickly indicates an increase in buyer demand.

Sales-to-List Price %: The final sale price at close of escrow relative to the seller's asking price.

  • This is a measure of discounting. If the sales-to-list price ratio is below 100%, sellers are typically receiving less than their full asking price for their homes. If the sales-to-list price is above 100%, sellers are typically receiving more than their full asking price for their homes.

% of Active Listings Reduced: The percentage of homes available for sale that have reduced their asking price.

  • This is another measure of discounting. A high percentage of active listings reduced suggests that more sellers in the market lowered the asking price of their homes, while a low percentage of active listings reduced suggests that fewer sellers in the market lowered the asking price of their properties.

• Closed transactions are down -28.8% for detached homes and -34.3% for attached year over year

• New listings are down -32.5% for detached homes and -30.4% for attached year over year

• Inventory is up +20% for detached homes and up +23.5% for attached year over year

• Average sales price for detached properties is up +11.2% and +14.1% for attached year over year

Median Price: The price point at which half of homes sold for more and half sold for less.

Home Sales: Number of units of existing single-family home sold.

Unsold Inventory Index: Number of months it would take to deplete the remaining inventory at the end of a month with the sales rate of the month in consideration. Inventory includes listings with “Active”, “Pending”, and “Contingent” (when available) statuses.

Median Time on Market: Number of days properties stay on the market before escrow opens.  This measure is the midpoint at which half of homes sold stay on the market longer and the other half stay on the market for a shorter period of time.  

MTM: Month-to-month percent change when compared to the previous month.

YTD: The percent change of the cumulative year-to-date sales to the same period of the previous year.

YTY: Year-to-year percent change when compared to the same month of the previous year.

# Homes for Sale: Number of active listings or homes available for sale during the month. 

Median Price: The median price of Single-Family Residence (SFR) homes and Condos with a status of "Active" during the month by product type (1br, 2br, 3br, 4+br). 

Median Days on Market: The median of the number of days properties were on the market before going Pending. 

Monthly Payment: The estimated monthly mortgage payment assuming a 30-year fixed-rate mortgage (FRM) at the current interest rate. Payment also includes an assumption of 1.38% for property taxes and insurance. 

Down Payment: The amount in USD $ necessary to cover the required 3% or 20% down payment in order to purchase the median priced home by product type (1br, 2br, 3br, 4+br).

Interest Rates: The Annual Percentage Rate (APR) charged for borrowing a 30-year fixed-rate mortgage according to Freddie Mac.

 

Selling A Home?

Find out what your home is really worth.

Buying A Home?

Browse our exclusive properties in the area.

FOLLOW US ON INSTAGRAM

LET US GUIDE YOU HOME

If you're looking for a team of positive, helpful partners who is ready to provide you with exceptional service, let's talk today!