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South County houses sell the quickest

November 4th, 2009, 2:00 am · 5 Comments · posted by Jon Lansner

The latest O.C. home inventory report from Steve Thomas at Altera Real Estate in Aliso Viejo says that as of October 29 that South County homes sell the quickest …

  • 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 Foothill Ranch at 1.0 months to theoretically sells all for-sale homes at the current buying pace.
  • “Hardest” market to sell a home in, based on the same math, is Corona Del Mar at 11.7 months to theoretically sells all for-sale homes at the current buying pace.

Here’s at look 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:

Hottest Supply Deals Mon. Yr. ago Price
Foothill Ranch 30 31 1.0 1.4 $551k
Aliso Viejo 96 96 1.0 1.2 $474k
Lake Forest 82 72 1.1 1.0 $558k
Dove Canyon 13 11 1.2 1.7 $870k
Fountain Valley 65 50 1.3 2.5 $550k
County Supply Deals Mon. Yr. ago Price
All of O.C. 7,749 3,166 2.4 2.4 $1.2m
Coolest Supply Deals Mon. Yr. ago Price
Corona Del Mar 187 16 11.7 11.5 $2.8m
Laguna Beach 365 43 8.5 11.0 $3.9m
Newport Beach 592 73 8.1 11.1 $2.4m
Newport Coast 157 21 7.5 5.2 $4.1m
Coto De Caza 119 16 7.4 7.4 $2.4m

More stats from Altera Real Estate HERE!

  • Lansner on Real Estate’s most-popular October postings …
  1. 16 OC hotels in deep financial distress
  2. Corona del Mar home on TV’s ‘Million Dollar’ show
  3. OC renters enjoy 3rd biggest US rent cuts
  4. Investor loses $50 million on Santa Ana office tower
  5. Hear why this guy saw home-price crash coming
  6. OC sent 60,000+ erroneous property tax bills
  7. $3 million price cut sells TV-featured OC mansion
  8. Top Calif. home price gains in 3 OC cities
  9. $38 million bay-view home is 2nd priciest OC listing
  10. Calif. house prices projected to jump 7.9%
  11. OC builder gets $206 million loan from Neverland savior
  12. UCLA sees 16% OC home-price gain in 2010
Posted in: Inventory • Top tale • •
 
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 5 Comments

  • shockg says:
    November 4, 2009 at 9 am

    gobble gobble gobble!

  • BOGEY says:
    November 4, 2009 at 9 am

    This guy ‘gets it’

    Not good news for the shockg’s of the World

    Living in a home 95% owned by a bank through a 30-40 year mortgage is NOT my idea of the “American Dream”. Fifty years ago, most people owned their homes outright. The rest had a very small mortgage. There was no need for two incomes to pay the mortgage on an OVERPRICED home that wouldn’t even outlast that mortgage.

    Yeah the “American Dream” for the banks holding the mortgage NOT the average citizen.

    http://www.marketwatch.com/story/story/commentstab?guid=2B0F0C39-C225-4837-BA89-EBF4CA6769CA#comment3095609

    • VoiceofReason says:
      November 4, 2009 at 1 pm

      Bogey, where do you get this stuff??? Plenty of people had mortgages in 1959, especially in SoCal. The homes were new and the loans were small………..because the home only cost $15K!! Of course, they had to watch the budget because dear ol’ dad was making a whopping $500 mo. at the gas company. OK, I’ll give you this……most farmers living in a lean-to in the midwest didn’t have mortgages. Newsflash—-….—-the one with the money has always run the show. Glorioski!!!
      But alas, you can’t go home. So, I say pack it up, hop aboard Mr. Peabody’s time machine, and go back to when men were men and guys had names like “Bogey”. One car, one TV, 3 channels, Friday night fights, Pabst Blue Ribbon and ……….NO BLOGS!!!! lol!!!

  • fiberguy says:
    November 4, 2009 at 11 am

    Looks like all the homes are getting “gobbled up”! Oh no, where will I live next? More importantly, what happens when the realtors have nothing left to sell?

    I s Obama up to his next challenge of what to do with all of the people who want to buy a house, but can’t? OC will be the next tent city.

    Gotta love all of the SPIN here!