Showing posts with label Ladera Ranch. Show all posts
Showing posts with label Ladera Ranch. Show all posts

Tuesday, February 23, 2010

South Orange County hardest place to buy home

South County is a hard place to find a home to buy. The latest O.C. home inventory report says that as of February 18 …

HottestSupplyDealsMon.Yr. agoPrice
Aliso Viejo 133 102 1.3 3.1 $459k
Rancho Santa Marg. 126 95 1.3 2.1 $393k
Lake Forest 110 76 1.4 2.2 $436k
Ladera Ranch 116 74 1.6 2.8 $825k
Foothill Ranch 45 28 1.6 2.8 $430k
CountySupplyDealsMon.Yr. agoPrice
All of O.C. 8,135 3,244 2.5 4.1 $1.1m
CoolestSupplyDealsMon.Yr. agoPrice
Laguna Beach 320 35 9.1 19.2 $3.7m
Newport Beach 497 59 8.4 18.4 $2.4m
Corona Del Mar 153 19 8.1 21.8 $3.2m
Laguna Woods 338 45 7.5 10.3 $221k
Newport Coast 149 22 6.8 16.9 $4.0m
  • 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 Aliso Viejo at 1.3 months to theoretically sell all for-sale homes at the current buying pace. A year ago, this town was at 3.1 months.
  • The 5 “hardest to buy” markets — a south of the 55 group that’s Aliso Viejo plus Rancho Santa Margarita, Lake Forest, Ladera Ranch and Foothill Ranch — combined have a market time of 1.4 months. These markets have only 7% of the supply of homes for sales but are 12% of the deals in escrow.
  • “Hardest” market to sell a home in, based on the same math, is Laguna Beach with market time at 9.1 months to theoretically sells all for-sale homes at the current buying pace. A year ago, this town was at 19.2 months.
  • The 5 “hardest to sell” markets have a combined market time of 8.1 months and were 18% of the supply of homes for sale but just 5.5% of the homes in escrow.
  • All told, countywide market time was 2.5 months last week.
  • Note: 35% of the communities tracked by Thomas had “market times” less than 2 months, a clear sellers’ market. Four weeks ago? 18% – and it was 3% 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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