Total Number of Homes for Sale in OC?  –  1,793.  Lowest since 2004.  From 2019 to 2019 the average number of homes for sale was 5,822.  

Expected Marketing Time?  23 Days – the 3 year average prior to Covid was 85 days

Luxury Home Demand?  Up 34% over last year.  Supply is down 51%

Distressed Sales?  Just 10 Foreclosures and 2 Short Sales on the Market in OC.

 

Demand typically slows as people spend time with family and friends over

the holidays.  This year is not different.  But the reasons may be very

different.  There are still WAY more buyers than sellers.  In our

experience this year, buyers get worn out making multiple offers and not

getting a home.  They want a break, and are hopeful there will be more

homes available  at better prices next year.  With inventory expected to

start 2022 at around 1,500 homes (less than a quarter of the pre-Covid

average) the market is likely to continue to be challenging for buyers.