Where do homes sell faster: Dove or Coto?

Posted on by Listify Me

Where is real estate healthier: Coto or Dove?

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 August 18 — has to say about these two neighboring South County markets.



COTO DE CAZA

  • 133 residences listed in brokers’ MLS system with 27 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 4.93 months vs. 6.89 months found two weeks earlier vs. 4.59 months seen a year earlier. Countywide, latest market time was 3.46 months vs. 3.88 months a year ago.

    • months a year ago.

  • Of the homes listed for sale in this community, 33 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 24.8% of supply of homes for sale vs. 32.9% countywide.
  • Homes for sale in Coto De Caza represent 1.2% of Orange County inventory — and 0.9% of all the distressed homes listed for sale in Orange County. New escrows here are 0.8% of all Orange County’s new pending sales.

DOVE CANYON

  • 22 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 4.40 months vs. 3.50 months found two weeks earlier vs. 3.33 months seen a year earlier. Countywide, latest market time was 3.46 months vs. 3.88 months a year ago.
  • Of the homes listed for sale in this community, 8 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 36.4% of supply of homes for sale vs. 32.9% countywide.
  • Homes for sale in Dove Canyon represent 0.2% of Orange County inventory — and 0.2% 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? Anaheim was tops — 60.3% — followed by Buena Park at 60.1% of listings and Rancho Santa Marg. at 58.3% of listings.
  • Fewest? Corona Del Mar was tops — 4.1% — followed by Seal Beach at 4.8% of listings and Villa Park at 6.1% of listings.

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    Did you miss?

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    5. Land cost for Newport mansion: $15.5 million


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