Orange County Real Estate February Update – What’s Happening Now?

If you’ve been keeping an eye on the real estate market, you’ve probably noticed that things are shifting. Whether you're thinking of buying or selling, understanding these trends can help you make the best decision for your next move.

Right now, we’re seeing more homes available on the market—about 31% more than this time last year—giving buyers more choices. But demand is also picking up, with a 31% increase in the past two weeks alone. This means well-priced, turn-key homes, that are marketed correctly are still moving quickly, especially in the $750,000 to $1,500,000 range, which remains the most competitive price point.

However, compared to the fall, homes took a bit longer to sell in January. In October, which is typically the last month we see a normal market before the holidays hit, 45% of homes sold in less than two weeks, while in January, that number dropped to 32%. Similarly, 53% of homes sold within a month in January, compared to 66% in October. The median time a home stays on the market now is 49 days.

It’s normal to see this drop in the speed of the market in January, as most of these homes went into escrow during the holiday season, which is traditionally the slowest time of year for the housing market. Now, we are already seeing signs of increased demand and the market picking up as we head through February so expect to see things get hotter the farther into the month we get.

If you’re curious about what this means for your specific situation—whether you’re looking to buy or sell now or in a year or two—let’s connect! I’d be happy to provide insights tailored to your goals. No. Pressure. Ever. Want to have a friendly no pressure conversation about your specific real estate related questions?

Schedule a 15 minute discover call with me by CLICKING HERE.

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Josh Alexander

THE brokeredge

JoshAlexanderRealEstate@gmail.com

714.366.2186

DRE#:01974435