Home market playoff: Orange vs. Villa Park

Posted on by Listify Me

Where is housing stronger: Orange or Villa Park?

Every two weeks, Orange County broker Steve Thomas publishes a report on the supply of local homes for sale. The latest report — as of May 26 says the Orange market is quicker while Villa Park has relatively fewer distressed properties among its listings.


More from Thomas:

ORANGE

  • 421 residences listed in brokers’ MLS system with 124 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 3.40 months vs. 3.22 months found two weeks earlier vs. 2.91 months seen a year earlier. Countywide, latest market time was 3.68 months vs. 2.98 months a year ago.
  • Of the homes listed for sale in this community, 145 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 34.4% of supply of homes for sale vs. 33.9% countywide.
  • Homes for sale in Orange represent 3.8% of Orange County inventory — and 3.8% of distressed homes for sale. New escrows here are 4.1% of all Orange County’s new pending sales.

VILLA PARK

  • 35 residences listed in brokers’ MLS system with 2 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 17.50 months vs. 16.50 months found two weeks earlier vs. 3.08 months seen a year earlier. Countywide, latest market time was 3.68 months vs. 2.98 months a year ago.
  • Of the homes listed for sale in this community, 4 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 11.4% of supply of homes for sale vs. 33.9% countywide.
  • Homes for sale in Villa Park represent 0.3% of Orange County inventory — and 0.1% of distressed homes for sale. New escrows here are 0.1% of all Orange County’s new pending sales.

Compare:

  • Cities with highest level of distressed properties among their listings? Anaheim was tops — 60.1% — followed by Rancho Santa Marg. at 59.6% of listings and La Habra at 58.8% of listings.
  • Fewest? Seal Beach was tops — 5.2% — followed by Corona Del Mar at 5.7% of listings and Laguna Woods at 6.7% of listings.

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