Archive for the 'Inventory' Category
November 3rd, 2009, 12:20 pm by Jeff Collins
 click to enlarge The number of homes listed for sale continues to drop, decreasing by 174 listings over the past two weeks (down 2%). That brings the new total to 7,749 listings as of Thursday, according to Aliso Viejo broker Steve Thomas.
- The last time the Orange County housing market was this small: January 2006, when the slump was just getting started.
- Last week’s listings are down 39% from a year ago, when there were 12,790 homes for sale; and it’s down 57% from the peak (17,898 listings in September 2007).
- In addition, 3,166 new deals were signed in October, Thomas reported. That reflects a seasonal dip from this year’s selling peak of more than 3,600 new deals a month last spring.
Said Thomas:
“There is very little fresh, new inventory. The lower the range, the “spookier” it gets. Properties that are priced right and in great condition are flying off of the market with multiple offers and tremendous activity. Buyers new to the market are dumbfounded by all of the competition. Their expectations are of doom and gloom and the ability to “cherry pick” whatever home they are interested in AND at a discount. Yet, just about every agent has pockets filled with buyers who want to buy but have been unable to purchase after losing out on property after property.”
Thomas also calculates a “market time” benchmark tracking how many months it theoretically takes to sell all the inventory in the local MLS at the current pace of deal making. By Thomas’ logic: Read the rest of this entry »
Posted in: Inventory • Seeking a bottom • Selling patterns • Top tale • Altera Real Estate • bottom • numbers | 51 Comments »
October 19th, 2009, 2:00 am by Jon Lansner
The latest O.C. home inventory report from Steve Thomas at Altera Real Estate in Aliso Viejo says …
As is customary, the higher the range, the slower the market. In this downturn it is even more pronounced. The sales to list price ratio in the upper range is 92%. That takes into account the LAST list price after many price reductions. The sales to ORIGINAL list price ratio is 85%. This vast discrepancy is due to unrealistic expectations on the part of sellers within the higher ranges and illustrates the need to carefully price a home based upon recent sales activity, 90 days or sooner is preferable, and all pending activity. Sellers in the upper ranges should not fall into the trap of giving too much weight to active listings. In this market, a buyer is not going to take into consideration another active listing that has sat on the market for months in coming up with an offering price. Appraisers are not going to give active listings much credence either.
Thomas calculates a “market time” benchmark tracking how many months it theoretically takes to sell all the inventory in the local MLS for-sale listings at the current pace of pending deals being made. By this Thomas logic, it would take:
- 2.48 months for buyers to gobble up all homes for sale at the current pace vs. 2.42 months two weeks vs. 4.76 months a year ago vs. 15.11 two years ago.
- Homes listed for under a million bucks have a market time of 1.88 months vs. 10.37 months for homes listed for more than $1 million.
Here’s the data, as of last Thursday, for listings; deals pending; market time in months; last Thursday vs. 2 weeks ago, a year ago and 2 years ago (Note: k=thousand; m=million) …
| SLICE |
Listings |
Deals |
Time (mos.) |
2 wks. ago |
1 yr. ago |
2 yr. ago |
| •$0-$250k |
1,134 |
660 |
1.72 |
1.58 |
3.43 |
12.87 |
| •$250k-$500k |
1,994 |
1408 |
1.42 |
1.35 |
3.43 |
12.87 |
| •$500k-$750k |
1,577 |
681 |
2.32 |
2.28 |
4.83 |
16.44 |
| •$750k-$1m |
943 |
251 |
3.76 |
4.09 |
8.27 |
14.24 |
| •$1m-$1.5m |
808 |
125 |
6.46 |
6.45 |
11.11 |
15.99 |
| •$1.5m-$2m |
468 |
54 |
8.67 |
10.25 |
21.89 |
17.88 |
| •$2m-4m |
698 |
36 |
19.39 |
20.41 |
22.42 |
25.09 |
| •$4m+ |
380 |
12 |
31.67 |
32.17 |
34.30 |
31.63 |
| All O.C. |
7,923 |
3,197 |
2.48 |
2.42 |
4.76 |
15.11 |
Coverage of other data reports from Altera ARE HERE!
Posted in: Inventory • Luxury homes • Top tale • Altera Real Estate • numbers | 97 Comments »
October 18th, 2009, 4:41 pm 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 15 …
- The “hottest” O.C. market in terms of “market time” (supply of homes for sale vs. new purchase deals inked in past month) is Aliso Viejo. With a market time of 1.2 months to theoretically sells all for-sale homes at the current buying pace, it’s O.C.’s theoretical hardest place to find a home to buy.
- “Coldest” market is Corona Del Mar at 16.3 months to theoretically sells all for-sale homes at the current buying pace, it’s the O.C.’s theoretical hardest place to sell a home.
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 |
| Aliso Viejo |
106 |
88 |
1.2 |
0.9 |
$461k |
| Rancho Santa Marg. |
102 |
81 |
1.3 |
1.1 |
$415k |
| Anaheim |
316 |
245 |
1.3 |
1.1 |
$374k |
| Foothill Ranch |
38 |
29 |
1.3 |
1.7 |
$525k |
| Lake Forest |
90 |
68 |
1.3 |
1.1 |
$502k |
| County |
Supply |
Deals |
Mon. |
Yr. ago |
Price |
| All of O.C. |
7,923 |
3,197 |
2.5 |
2.3 |
$1.2m |
| Coolest |
Supply |
Deals |
Mon. |
Yr. ago |
Price |
| Corona Del Mar |
195 |
12 |
16.3 |
10.8 |
$2.8m |
| Laguna Beach |
371 |
36 |
10.3 |
10.3 |
$4.0m |
| Newport Beach |
619 |
66 |
9.4 |
9.4 |
$2.5m |
| Coto De Caza |
122 |
14 |
8.7 |
6.3 |
$2.3m |
| Newport Coast |
158 |
25 |
6.3 |
6.9 |
$3.9m |
More stats from Altera Real Estate HERE!
Posted in: Inventory • Top tale • Aliso Viejo • Altera Real Estate • numbers | 69 Comments »
October 5th, 2009, 8:20 am by Jon Lansner
The latest O.C. home inventory report from Steve Thomas at Altera Real Estate in Aliso Viejo says …
Active listing inventory has dropped below 8,000 for the first time since the beginning of January 2006, and now sits at 7,917. That’s a 2% drop in just two weeks. We started the year with an inventory of 11,842 and have dropped 33% since. Last year the inventory was at 12,940, 5,023 additional homes.
Thomas calculates a “market time” benchmark tracking how many months it theoretically takes to sell all the inventory in the local MLS for-sale listings at the current pace of pending deals being made. By this Thomas logic, it would take:
- 2.42 months for buyers to gobble up all homes for sale at the current pace vs. 2.33 months two weeks vs. 4.55 months a year ago vs. 15.96 two years ago.
- Homes listed for under a million bucks have a market time of 1.83 months vs. 10.84 months for homes listed for more than $1 million.
For info on distressed properties visit Mortgage Insider.
Here’s the data, as of last Thursday, for listings; deals pending; market time in months; last Thursday vs. 2 weeks ago, a year ago and 2 years ago (Note: k=thousand; m=million) …
| Slice |
List |
Deal |
Time (mos.) |
2 wks. ago |
1 yr. ago |
2 yr. ago |
| •$0-$250k |
1,117 |
707 |
1.58 |
1.60 |
3.40 |
13.65 |
| •$250k-$500k |
1,942 |
1436 |
1.35 |
1.30 |
3.40 |
13.65 |
| •$500k-$750k |
1,571 |
690 |
2.28 |
2.03 |
4.47 |
15.64 |
| •$750k-$1m |
977 |
239 |
4.09 |
4.09 |
4.37 |
15.88 |
| •$1m-$1.5m |
813 |
126 |
6.45 |
6.28 |
9.14 |
22.56 |
| •$1.5m-$2m |
492 |
48 |
10.25 |
9.98 |
17.54 |
17.77 |
| •$2m-4m |
694 |
34 |
20.41 |
18.97 |
17.07 |
26.06 |
| •$4m+ |
386 |
12 |
32.17 |
36.91 |
57.33 |
23.91 |
| All O.C. |
7,917 |
3,270 |
2.42 |
2.33 |
4.55 |
15.96 |
Coverage of other data reports from Altera IS HERE!
August’s most-read posts on this blog …
- 21 years until housing beats its old peak?
- What $320,000 buys — in Newport Beach
- Largest California home-price gains in 5 OC cities
- California has nation’s highest mortgage burdens
- Hear why homebuying burst could be short-lived
- Mogul’s home sells at $2 million discount
- California ranks 14th for moving-van exits
- OC luxury condo developer in bankruptcy
- Where do homes sell in less than a month?
- Same OC city is best, worst for home-price cuts
- Investors driving up OC home sales
- Developer owned by Bren’s son files bankrupt
Posted in: Inventory • Top tale • Altera Real Estate • numbers | 143 Comments »
October 5th, 2009, 8:20 am 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 1 …
- The “hottest” O.C. market in terms of “market time” (supply of homes for sale vs. new purchase deals inked in past month) is Portola Hills at 1.0 months to theoretically sells all for-sale homes at the current buying pace.
- Lake Forest and Rancho Santa Margarita are also in the Top 5, mirroring DataQuick data on completed sales showing strength near the foothills. Read: “Home sales, prices up in south inland O.C.“
- “Coldest” market is Corona Del Mar at 11.5 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 |
Month |
Yr. ago |
Price |
| Portola Hills |
9 |
9 |
1.0 |
1.5 |
$469k |
| Lake Forest |
81 |
79 |
1.0 |
1.3 |
$512k |
| Westminster |
66 |
62 |
1.1 |
1.1 |
$464k |
| Rancho Santa Marg. |
101 |
92 |
1.1 |
1.2 |
$435k |
| Anaheim |
301 |
254 |
1.2 |
1.1 |
$370k |
| County |
Supply |
Deals |
Month |
Yr. ago |
Price |
| All of O.C. |
7,917 |
3,270 |
2.4 |
2.5 |
$1.2m |
| Coolest |
Supply |
Deals |
Month |
Yr. ago |
Price |
| Corona Del Mar |
196 |
17 |
11.5 |
7.9 |
$2.8m |
| Newport Beach |
630 |
57 |
11.1 |
8.6 |
$2.5m |
| Laguna Beach |
375 |
34 |
11.0 |
11.0 |
$4.0m |
| Coto De Caza |
125 |
17 |
7.4 |
6.8 |
$2.2m |
| Seal Beach |
261 |
42 |
6.2 |
5.3 |
$354k |
More stats from Altera Real Estate HERE!
August’s most-read posts on this blog …
- 21 years until housing beats its old peak?
- What $320,000 buys — in Newport Beach
- Largest California home-price gains in 5 OC cities
- California has nation’s highest mortgage burdens
- Hear why homebuying burst could be short-lived
- Mogul’s home sells at $2 million discount
- California ranks 14th for moving-van exits
- OC luxury condo developer in bankruptcy
- Where do homes sell in less than a month?
- Same OC city is best, worst for home-price cuts
- Investors driving up OC home sales
- Developer owned by Bren’s son files bankrupt
Posted in: Inventory • Altera Real Estate • corona del mar • numbers • Portola Hills | 5 Comments »
September 21st, 2009, 2:00 pm by Jon Lansner
The latest O.C. home inventory report from Steve Thomas at Altera Real Estate in Aliso Viejo says that as of September 17 …
- The “hottest” O.C. market in terms of “market time” (supply of homes for sale vs. new purchase deals inked in past month) is Portola Hills at 0.6 months to theoretically sell all for-sale homes at the current buying pace.
- “Coldest” market is Corona Del Mar at 10.8 months to theoretically sell 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.
Psst! Note difference in pricing between hot and cold …
| Hottest |
Supply |
Deals |
Months |
Yr. ago |
Price |
| Portola Hills |
7 |
11 |
0.6 |
1.1 |
$442k |
| Aliso Viejo |
97 |
111 |
0.9 |
1.2 |
$490k |
| Rancho Santa Marg. |
102 |
96 |
1.1 |
1.5 |
$443k |
| Lake Forest |
87 |
80 |
1.1 |
1.1 |
$547k |
| Westminster |
78 |
70 |
1.1 |
1.4 |
$465k |
| County |
Supply |
Deals |
Months |
Yr. ago |
Price |
| All of O.C. |
8,064 |
3,464 |
2.3 |
2.4 |
$1.2m |
| Coolest |
Supply |
Deals |
Months |
Yr. ago |
Price |
| Corona Del Mar |
206 |
19 |
10.8 |
7.3 |
$2.6m |
| Laguna Beach |
382 |
37 |
10.3 |
10.5 |
$4.1m |
| Newport Beach |
623 |
66 |
9.4 |
9.6 |
$2.5m |
| Newport Coast |
165 |
24 |
6.9 |
8.9 |
$3.8m |
| Laguna Woods |
380 |
57 |
6.7 |
5.7 |
$232k |
- More stats from Altera Real Estate HERE!
- DataQuick numbers? HERE!
- Market outlooks? HERE!
Posted in: Inventory • Top tale • Altera Real Estate • corona del mar • Portola Hills | 26 Comments »
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