Santa Ana home market slows slightly

Posted on by Listify Me

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 26 — has to say about Santa Ana …

  • 581 residences listed in brokers’ MLS system with 197 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 2.95 months vs. 2.88 months found two weeks earlier vs. 2.23 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, 333 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 57.3% of supply of homes for sale vs. 33.9% countywide.
  • Homes for sale in Santa Ana represent 5.2% of Orange County inventory — and 8.7% of distressed homes for sale. New escrows here are 6.5% 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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