If you’ve been keeping an eye on Orange County real estate, you’ve probably noticed it feels like two very different markets rolled into one. On one hand, many homes are sitting longer, selling for less than asking. On the other hand, the right home—priced well, in great condition, and in a desirable location—can still spark bidding wars. Let’s break it down.
The Reality Check: Homes Selling Below List Price
A revealing 55% of closed sales recently sold below their last list price, with the median days on market at 32 days. On average, buyers negotiated 2.8% below the asking price—about $32,000 off.
For buyers, this means opportunity. Homes that linger on the market—those needing updates, priced a little too high, or in less-than-ideal locations—are often excellent candidates for negotiation. Sellers in these situations are usually more willing to sharpen their pencils and strike a deal.
The Flip Side: Homes Selling Above Asking
Not everything is selling at a discount. In fact, 25.9% of homes sold above their original asking price, often within just 8 days. The typical amount paid above asking? $30,000.
So, how is this happening in what feels like a slower market? The answer is simple: supply and demand. When a home is move-in ready, beautifully updated, and priced right, it attracts immediate attention from multiple buyers. In those cases, it’s not unusual to see offers climb above list price as buyers compete for the same property.
What Buyers Should Keep in Mind
When considering a home, it’s important to look beyond the headline numbers and ask the right questions:
How long has the home been on the market?
Has the price been reduced or adjusted?
What’s the condition, location, and level of upgrades?
How does it compare to recent sales in the neighborhood?
Each property tells its own story, and understanding these details helps you know whether you’re in a position to negotiate—or if you’ll need to act fast.
The Bigger Picture: Where the Market Stands
Currently, Orange County has about 5,011 homes on the market, with 40% having reduced their asking price. Demand (measured by new pending sales) is at 1,652, very close to the March peak of 1,665. Encouragingly, demand has been rising as interest rates hit their lowest levels of the year.
The Expected Market Time—the average time it would take to sell all current listings at today’s pace—is 91 days, the highest for mid-August since 2014. However, it’s down slightly from 96 days last month thanks to improving affordability.
What This Means for You
If you’re buying, this is a market where knowledge is your biggest advantage. Many homes will sit and allow room for negotiation, while others will fly off the market in less than a week. Knowing the difference is the key to success.
As your realtor, I’m here to help you:
Understand local market stats, not just countywide trends.
Recognize when a home is overpriced and ready for negotiation.
Spot the gems that are likely to attract multiple offers—so you’re prepared to compete strategically.
In short: know the market, know the property, and be ready to move when the right opportunity appears.