Selling in Orange County This Summer: How to Win in a Slower Market

The July 20 Orange County Housing Report from Steven Thomas at Reports on Housing does not sugarcoat it: this is the lull phase, and homes are taking longer to sell. But the data also shows that sellers who prepare and price well are still succeeding, and a few numbers are quietly on your side.

Start with the most important one. The sales to list price ratio is holding at 99.9 percent, which means homes priced correctly are still fetching essentially full asking price. Even better, half of the 1,994 homes that closed in June went into escrow within the first two weeks. Buyers are still out there, and when the price is right, they move quickly.

Your competition is heavier than earlier in the year but not by historical standards. Inventory rose to 5,020 homes, yet that is just about even with last year and a full 35 percent below the pre COVID norm of 6,776. Fewer homes have come to market this year than last. The catch is timing: inventory usually keeps climbing into late summer, so listing sooner means facing less competition than listing later.

We are at the middle of the Summer Market, the second busiest stretch of the year. By the end of August, as families settle into the school year, we move into the slower Autumn Market. The window to capture summer buyers is open now, and it narrows a little more each week.

Your segment shapes your strategy. Detached homes are the strongest lane at 96 days, slightly faster than last summer. Condos and townhomes are softer at 112 days, so attached sellers need sharper pricing and presentation. In luxury above $2.5 million, the overall market time is 193 days, though that is still faster than last year at 223, and the $2.5 million to $4 million tier is the most active part of the high end.

In a market like this, the winners do three things: price to true fair market value from day one, present the home in turnkey condition, and launch with strong marketing. Overpricing is the fastest way to join the 41 percent of listings that have sat for more than two months. Precision beats optimism right now.

If you want an honest, no pressure read on what your home would sell for in today market, I would be glad to run the numbers with you and map out a plan.