October Market Snapshot
OC HOUSING MARKET TODAY
Orange County active listing inventory decreased by 96 homes, down 3%, and now sits at 3,581, its lowest level since June. Last year, the inventory was at 1,793, 50% lower, or 1,788 fewer. The 3-year average prior to COVID (2017 to 2019) is 5,822, an extra 2,241 homes, or 63% more. There were a lot more choices back then.
OC Demand, a snapshot of the number of new escrows over the prior month, declined from 1,270 to 1,202 in the past couple of weeks, shedding 68 pending sales, or down 5%. It was the smallest two-week drop since September 1st, indicating that demand has finally caught up to the swiftly rising mortgage rate environment.
The movie below shows a closer look at the Month over Month change in these OC Communities.
Coto de Caza
Dana Point
Huntington Beach
Ladera Ranch
Laguna Beach
Laguna Niguel
Las Flores
Mission Viejo
Newport Beach
Newport Coast
Rancho Mission Viejo
Rancho Santa Margarita
San Clemente
San Juan Capistrano
Market Snapshot October 2022
Questions about the market activity data? 📈 📉 Call / Text 949.482.0073 or send me a DM 📩 on IG or FB @RealKKNagel.
(If you don’t see your city or area and want a market update, let me know and I’ll send you a custom analysis.)
CURIOUS ABOUT YOUR HOME’S VALUE?
Sources:
1. Altos Reports -
https://altosresearch.com/market_reports
2. CRMLS -
https://go.crmls.org
3. OC Reports on Housing -
https://reportsonhousing.com
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California Properties
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