Orange County housing chill: Listings take 46 more days to sell as buyers mull 40% more choices

Orange County’s existing homes for sale are taking an estimated 46 more days to sell this year as 40 percent more residences sit on the market.

Here is what you need to know from ReportsOnHousing’s take on data for Orange County, data as of Oct. 18 …

Supply: 7,292 listings, up 2,077 residences for sale in a year or 40 percent; and up 23 percent vs. 6-year average.

Demand: 1,974 new escrows, down 419 sales contracts in 12 months or 18 percent; and down 20 percent vs. previous six years.

Market time: 111 days vs. 65 a year earlier and an average 81 days in 2012-2017.

Success rate: Comparing current escrows to listings 14 weeks earlier shows 30 percent of sellers were successful vs. 40 percent a year earlier and an average 36 percent over six years in mid-October.

Elsewhere in Southern California …

Los Angeles County: 37 more days to sell vs. a year ago (100 days total) as supply rose 30 percent.

Riverside County: 58 more days (124 days total) as supply rose 22 percent.

San Bernardino County: 34 more days (104 days total) as supply rose 21 percent.