Every two weeks, Orange County broker Steve Thomas publishes a report on the supply of local homes for sale. Here’s what the latest report — as of May 12 — has to say about Buena Park …

• 182 residences listed in brokers’ MLS system with 47 new deals opening in the past 30 days.
• By Thomas’s math, this community has a “market time” (months in would take to sell all inventory at current pace of new escrows) of 3.87 months vs. 3.55 months found two weeks earlier vs. 1.62 months seen a year earlier. Countywide, latest market time was 3.68 months vs. 2.53 months a year ago.
• Of the homes listed for sale in this community, 85 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 46.7% of supply of homes for sale vs. 33.9% countywide.
• Homes for sale in Buena Park represent 1.6% of Orange County inventory — and 2.2% of distressed homes for sale. New escrows here are 1.5% of all Orange County’s new pending sales.

As for Cypress …

• 131 residences listed in brokers’ MLS system with 36 new deals opening in the past 30 days.
• By Thomas’s math, this community has a “market time” (months in would take to sell all inventory at current pace of new escrows) of 3.64 months vs. 3.74 months found two weeks earlier vs. 2.04 months seen a year earlier. Countywide, latest market time was 3.68 months vs. 2.53 months a year ago.
• Of the homes listed for sale in this community, 59 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 45.0% of supply of homes for sale vs. 33.9% countywide.
• Homes for sale in Cypress represent 1.2% of Orange County inventory — and 1.6% of distressed homes for sale. New escrows here are 1.2% of all Orange County’s new pending sales.

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