Orange County Market Report In the last 2 weeks the Orange County real estate market’s inventory dropped substantially!! The market time dropped by 26%! The inventory for the county is down to 2.15 months. Many cities have less than 2 months inventory. The buzz in the coffee room just a few weeks ago about the market picking up proved correct. Now we are hearing about multiple offers and buyers waiting for a home in a certain area to appear on the market. Given the direction that the market is heading rapidly, it looks like Gary Watts’ prediction of 15% appreciation for the county is eminent. Let’s keep our fingers crossed that more homes start hitting the market or we could face a supply issue that mirrors last year. Don’t look to the papers to start talking about the heat up in the market for at least another month; they rely on sources that do not track properties that are placed into escrow. Rather, they rely on sold data only. The average days on market for active listings within the county dropped again to 60 days (4 weeks ago was the high at 69 days). The following areas have 1.5 months inventory or less: Anaheim Hills, Brea, Cypress, Foothill Ranch, Fountain Valley, Fullerton, Garden Grove, Ladera Ranch, Lake Forest, Portola Hills, Rancho Santa Margarita and Tustin. Foothill Ranch’s inventory is at 0.93 months! The following areas have inventories greater than 4 months: Canyon Areas, Corona Del Mar, Laguna Beach, San Juan and Villa Park. Corona Del Mar’s inventory is at 8.57 months! Click on the following link to view the report: www.OurAgentSpot.com