Number of Active Listings In O.C. Dropped 33%

The active listing inventory in Orange County has dropped 33% since the beginning of the year

and is under 8,000 for the first time since January 2006.

In just two weeks the inventory has dropped 2% and there are only 7,917 homes in the active listing inventory at the moment. At this time last year there was 5,023 more homes on the market.

At the current pace it would take 2.42 months for buyers to purchase all home for sale compared to 4.55 months a year ago. Homes that are listed for under $1 million have a market time of 1.83, but home listed for more than $1 million have a market time of 10.84 months.