Hotter home market? Orange or 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 June 9 says the Orange market is quicker while Villa Park has relatively fewer distressed properties among its listings.


More from Thomas:

ORANGE

  • 441 residences listed in brokers’ MLS system with 117 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 3.77 months vs. 3.40 months found two weeks earlier vs. 3.36 months seen a year earlier. Countywide, latest market time was 3.66 months vs. 3.19 months a year ago.
  • Of the homes listed for sale in this community, 154 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 34.9% of supply of homes for sale vs. 33.9% countywide.
  • Homes for sale in Orange represent 3.9% of Orange County inventory — and 4.0% of all the distressed homes listed for sale in Orange County. New escrows here are 3.8% of all Orange County’s new pending sales.

VILLA PARK

  • 33 residences listed in brokers’ MLS system with 5 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 6.60 months vs. 17.50 months found two weeks earlier vs. 8.00 months seen a year earlier. Countywide, latest market time was 3.66 months vs. 3.19 months a year ago.
  • Of the homes listed for sale in this community, 5 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 15.2% 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 all the distressed homes listed for sale in Orange County. New escrows here are 0.2% of all Orange County’s new pending sales.

Compare these trends to countywide patterns:

  • Cities with highest level of distressed properties among their listings? Rancho Santa Marg. was tops — 62.2% — followed by Anaheim at 60.3% of listings and Santa Ana at 57.7% of listings.
  • Fewest? Corona Del Mar was tops — 3.8% — followed by Seal Beach at 4.4% of listings and Newport Coast at 7.1% of listings.

    • For more real estate news, CLICK HERE! For ZIP-by-ZIP homebuying trends, CLICK HERE! And for the latest housing foibles of Real Housewives of Orange County cast, CLICK HERE!


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