Orange County Housing Market Data

There was a decrease in total units sold in October, with 98 sold this month in Orange County versus 119 last month, a decrease of 18%. This month's total units sold was lower than at this time last year, a decrease of 18% versus October 2022.

Versus last year, the total number of homes available this month is lower by 3 units or 1%. The total number of active inventory this October was 222 compared to 225 in October 2022. This month's supply remained stable as compared to last month.

Last October, the median sale price for Orange County was $430,000. This October, the median sale price was approximately the same at $473,975. The current median sold price is 10% higher than in October 2022.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In October, there was 2.3 months of supply available in Orange County, compared to 1.9 in October 2022. That is an increase of 21% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 129 homes newly listed for sale in Orange County compared to 132 in October 2022, a decrease of 2%. There were 114 current contracts pending sale this October compared to 111 a year ago. The number of current contracts is 3% higher than last October.

In October, the average sale price in Orange County was 100.6% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 21, which is similar compared to a year ago.





Focus On: Orange County Housing Market			October 2023

Units Sold 98	Active Inventory 222	Median Sale Price $473,975	Days On Market 21

Down -18% Vs. Year Ago	Down -1% Vs. Year Ago	Up 10% Vs. Year Ago	No Change Vs. Year Ago


		Units Sold There was a decrease in total units sold in October, with 98 sold this month in Orange County versus 119 last month, a decrease of 18%. This month's total units sold was lower than at this time last year, a decrease of 18% versus October 2022.
Active Inventory Versus last year, the total number of homes available this month is lower by 3 units or 1%. The total number of active inventory this October was 222 compared to 225 in October 2022. This month's supply remained stable as compared to last month.
		Median Sale Price Last October, the median sale price for Orange County was $430,000. This October, the median sale price was approximately the same at $473,975. The current median sold price is 10% higher than in October 2022. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 129	Current Contracts 114	Sold Vs. List Price 100.6%	Months of Supply 2.3

Down -2% Vs. Year Ago	Up 3% Vs. Year Ago	No Change Vs. Year Ago	Up 21% Vs. Year Ago


		Months of Supply In October, there was 2.3 months of supply available in Orange County, compared to 1.9 in October 2022. That is an increase of 21% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 129 homes newly listed for sale in Orange County compared to 132 in October 2022, a decrease of 2%. There were 114 current contracts pending sale this October compared to 111 a year ago. The number of current contracts is 3% higher than last October.
		Sale Price to List Price Ratio In October, the average sale price in Orange County was 100.6% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 21, which is similar compared to a year ago.


	Orange County are defined as properties listed in zip code/s .
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by TRIANGLE and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TRIANGLE or Long & Foster Real Estate, Inc.