Orange County homeowners rush to sell, listings up 34% in a year

Orange County’s existing homes are taking an estimated 38 more days to sell this year as 34 percent more homes are listed for sale.

ReportsOnHousing tracks homebuying patterns found in real estate broker networks: supply (active listings); year-to-date increase in supply; demand (new escrows in past 30 days); and “market time” (a measure of selling speed of days it takes a typical listing to enter escrow).

Here is what you need to know from the ReportsOnHousing for Orange County, data as of Oct. 4 …

Supply: 7,201 listings, up 1,819 residences for sale in a year or 34 percent; and up 18 percent vs. 6-year average.

Supply, year-to-date: Up 3,641 listings vs. a rise of 1,148 a year earlier and an average increase of 2,162 in 2013-2017.

Demand: 2,050 new escrows, down 376 sales contracts in 12 months or 15 percent; and down -20 percent vs. previous six years.

Market time: 105 days vs. 67 a year earlier and an average 80 days in 2012-2017.

Elsewhere in Southern California, during the past 12 months …

Los Angeles County: 31 more days to sell to 96 days as supply rose 25 percent.

Riverside County: 28 more days to sell to 117 days as supply rose 19 percent.

San Bernardino County: 29 more days to sell to 101 days as supply rose 17 percent.