Real estate for sale in Tustin looks slower by one set of statistics.

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 June 23 — has to say about Tustin …

• 347 residences listed in brokers’ MLS system with 99 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 3.51 months vs. 3.29 months found two weeks earlier vs. 2.45 months seen a year earlier. Countywide, latest market time was 3.72 months vs. 3.37 months a year ago.
• So, homes in this community — in theory — sell 6% faster than the countywide pace.
• Of the homes listed for sale in this community, 120 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 34.6% of supply of homes for sale vs. 33.5% countywide.
• Homes for sale in Tustin represent 3.0% of Orange County inventory — and 3.1% of all the distressed homes listed for sale in Orange County. New escrows here are 3.2% of all Orange County’s new pending sales.

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