Tuesday, March 23, 2010

hardest place to buy a home in OC?

The latest O.C. home inventory report says that as of March 18 …

HottestSupplyDealsMon.Yr. agoPrice
Dove Canyon 13 19 0.7 7.8 $872k
Aliso Viejo 123 112 1.1 2.9 $455k
Portola Hills 18 16 1.1 2.3 $498k
Rancho Santa Marg. 134 103 1.3 3.1 $392k
Foothill Ranch 43 27 1.6 3.4 $432k
CountySupplyDealsMon.Yr. agoPrice
All of O.C. 8,776 3,270 2.7 4.3 $1.1m
CoolestSupplyDealsMon.Yr. agoPrice
Laguna Beach 358 29 12.3 29.7 $3.6m
Corona Del Mar 169 17 9.9 30.4 $3.0m
Newport Beach 540 75 7.2 15.4 $2.5m
Newport Coast 149 25 6.0 11.7 $4.0m
Coto De Caza 119 21 5.7 8.4 $2.3m
  • The “hardest” O.C. town to find a home to buy in terms of “market time” (supply of homes for sale vs. new purchase deals inked in past month) is Dove Canyon at 0.7 months to theoretically sell all for-sale homes at the current buying pace. A year ago, this town was at 7.8 months.
  • The 5 “hardest to buy” markets combined have a market time of 1.2 months and comprised 4% of the supply of homes for sale and 8% of homes in escrow.
  • “Hardest” market to sell a home in, based on the same math, is Laguna Beach with market time at 12.3 months to theoretically sells all for-sale homes at the current buying pace. A year ago, this town was at 29.7 months.
  • The 5 “hardest to sell” markets have a combined market time of 8.0 months and were 15% of the supply of homes for sale and 5% of homes in escrow.
  • All told, countywide market time was 2.7 months last week.
  • All told, 23% of the communities tracked by Thomas had “market times” less than 2 months,a clear sellers’ market. Four weeks ago? 35% – and it was 0% a year ago.
  • Chart at right looks at the 5 hottest and 5 coldest markets in O.C. as of last Thursday (supply for sale; new deals made; market time in months vs. a year ago and average listing price) by Thomas’ market time math.

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Posted via web from The Newport Beach Lifestyle

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