Home market battle: Coto vs. Dove

Posted on by Listify Me

Which housing market is healthier: Coto or Dove?

Well, let’s look at the latest stats from Orange County broker Steve Thomas, who biweekly publishes a report on the supply of local homes for sale. Here’s what the latest report — as of May 26 — has to say


COTO DE CAZA

  • 134 residences listed in brokers’ MLS system with 35 new deals opening in the past 30 days.
  • By Thomas math, this community has a “market time” (months in would take to sell all inventory at current pace of new escrows) of 3.83 months vs. 4.57 months found two weeks earlier vs. 2.97 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, 28 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 20.9% of supply of homes for sale vs. 33.9% countywide.
  • Homes for sale in Coto De Caza represent 1.2% of Orange County inventory — and 0.7% of distressed homes for sale. New escrows here are 1.1% of all Orange County’s new pending sales.

DOVE CANYON

  • 21 residences listed in brokers’ MLS system with 4 new deals opening in the past 30 days.
  • By Thomas math, this community has a “market time” (months in would take to sell all inventory at current pace of new escrows) of 5.25 months vs. 4.60 months found two weeks earlier vs. 1.73 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, 7 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 33.3% of supply of homes for sale vs. 33.9% countywide.
  • Homes for sale in Dove Canyon represent 0.2% of Orange County inventory — and 0.2% of distressed homes for sale. New escrows here are 0.1% of all Orange County’s new pending sales.

ELSEWHERE

Compare:

  • O.C. cities with highest level of distressed properties among their listings? Anaheim was tops — 60.1% — followed by Rancho Santa Margarita 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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