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ORANGE COUNTY
Market Overview a monthly real estate report | February 2010
Orange County
Orange County housing is in a heated seller’s market*, with as little as 2.4 months of inventory on
hand in homes priced under $1 million. In homes priced above $1 million, selection is larger, but
unique, upscale and luxury properties aren’t expected to sell as quickly as more traditional homes.
Between $2 million and $6 million, homes are averaging 17.6 months of inventory, which isn’t out
of the ordinary in high-end homes. Homes priced above $6 million could be said to be in a serious
buyer’s market.
Detached homes stand alone and share no common walls with any other neighboring home. Attached
homes share at least one common wall with another home. The type of home ownership is determined
by whether or not it is a condominium, townhome, duplex, co-operative or other.
Inventory In Months’ Supply – January 4, 2010
Detached Properties in SoCalMLS-Orange County
Detached Properties - Inventory in Months
Under $300K 1.6
Detached homes under $1 million are in a heated seller’s
$300K - $399K 1.9
market, with so little inventory in some price ranges that
$400K - $499K 1.9
homes are selling faster than replacements can come
$500K - $599K 2.1
onto the market.
$600K - $699K 2.8
$700K - $799K 2.8
$800K - $899K 3.1
$900K & Over 7.9
Copyright © 2009, Real Data Strategies, Inc. All rights reserved. Use is by license agreement only.
ACTIVE $526 Active home prices per square foot much higher than that
of closed sales in detached properties further illustrate the
BACKUP OFFERS $320 seller’s market in the conforming loan ranges. However,
Sellers should carefully consider
current buyer demand when pricing
their home for sale. When list prices
detached home properties are also more unique, which
CLOSED SALE $326
per square foot of Backup and
Pending status properties are below can skew listing prices per square foot.
that of Active properties, sellers
should ask for pricing counsel from
their Agent.
HOLD DO NOT
$317
SHOW
ACTIVE $333 Detached home prices per square foot tend to be closer
to sold prices than those of detached homes. Lower
BACKUP OFFERS $250 Sellers should carefully consider backup offers and pendings suggest greater volume in the
current buyer demand when pricing
their home for sale. When list prices
per square foot of Backup and
affordable ranges.
Pending status properties are below
CLOSED SALE $260 that of Active properties, sellers
should ask for pricing counsel from
their Agent.
HOLD DO NOT
$250
SHOW
Copyright © 2009, Real Data Strategies, Inc. All rights reserved. Use is by license agreement only.
Monthly Listings Taken and Absorbed
Detached Properties In SoCalMLS-Orange County
Detached Properties
12 Months- Through
Monthly December,
Listings Taken
2009and Absorbed
12 Months through December 2009
2,500 2,000
New Listings Listings Absorbed
1,905
The rate of new listings entering the market peaked in
2,000
1,794
1,688 1,731
1,500 October 2009. Since then, new listings have declined,
1,607 1,699 1,611
1,536 1,459 1,586 1,555
1,500 1,379 and absorption rates have increased proportionately.
1,000
1,000
500
500
0 0
2009/01 2009/02 2009/03 2009/04 2009/05 2009/06 2009/07 2009/08 2009/09 2009/10 2009/11 2009/12
New Listings 1536 1459 1586 1555 1607 1699 1794 1688 1731 1905 1611 1379
Listings Absorbed 1163 1219 1470 1584 1548 1666 1602 1689 1657 1564 1601 1470
900
927
and absorption rate improved in December 2009 .
600
600
300
300
0 0
2009/01 2009/02 2009/03 2009/04 2009/05 2009/06 2009/07 2009/08 2009/09 2009/10 2009/11 2009/12
New Listings 945 928 1101 996 984 1021 1123 1049 1117 1194 1057 927
Listings Absorbed 710 758 987 986 935 1117 1096 1098 1118 1127 1007 1074
3,300 3,000
$400
2,184 2,279 2,000
$935 $825 $758 $679 $632 $586 $629 $688 $685
$200
1,000
1-year avg. price trend: Up 8.5 % 1-year sales trend: Up 0.4 %
2-year avg. price trend: Down 26.7 % 2-year sales trend: Up 86.7 %
$0 0
2007/4 2008/1 2008/2 2008/3 2008/4 2009/1 2009/2 2009/3 2009/4
2,692
2,903 3,000 with a subsequent positive effect on sales volume.
2,635
$300 2,190 2,571
2,409
2,071 2,000
$200
1,358 1,381
$396 $354 $312 $293 $309 $327 $331 1,000
$448 $404
$100
1-year avg. price trend: Up 6 % 1-year sales trend: Up 6.7 %
2-year avg. price trend: Down 26.1 % 2-year sales trend: Up 89.3 %
$0 0
2007/4 2008/1 2008/2 2008/3 2008/4 2009/1 2009/2 2009/3 2009/4
©2009 Prudential California Realty Independently owned and operated. Objective data used in this report provided by Real Data Strategies. Inc. Our company’s mailing materials are printed on paper certified by the
Based on data supplied by SoCalMLS / Orange County and its member Associations of REALTORS, who are not responsible for its accuracy. Analysis dates are October 1, 2007
Forest Stewardship Council through (FSC)
December as theDoes
31, 2009. product ofactivity
not reflect all sustainably managed
in the market place. forests.
Copyright © 2009, An independently
Real Data Strategies, owned and operated member of the Prudential Real Estate Affiliates, Inc. This is not intended as a solicitation if
Inc. All rights reserved.