The luxury market in Orange County slowed over the past couple of weeks.
In the past couple of weeks, the luxury home inventory priced above $2.5 million (the top 10% of the Orange County housing market) increased from 987 to 1,041, up 54 units, or 5%. Luxury demand decreased by 12 pending sales, down 6%, to 199. With supply rising and demand falling, the Expected Market Time for luxury homes priced above $2 million increased from 149 to 167 days, its slowest reading since January. Like the rest of the market, the luxury market is beginning to slow.
Year over year, the active luxury inventory is down by 177 homes (-15%), and luxury demand is down by 1 pending sale (-1%). Last year’s Expected Market Time was 194 days, slower than today.
In the past two weeks, the Expected Market Time for homes priced between $2.5 million and $4 million increased from 115 to 128 days. For homes priced between $4 million and $6 million, the Expected Market Time increased from 142 to 177 days. For homes priced above $6 million, the Expected Market Time increased from 281 to 295 days. Luxury is at 167 days overall. At this pace, a seller would likely become a pending sale around November 2026.