Hotter housing? 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 August 18 says the Orange market is quicker while Villa Park has relatively fewer distressed properties among its listings.



More from Thomas:

ORANGE

  • 408 residences listed in brokers’ MLS system with 110 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 3.71 months vs. months vs. 3.57 months found two weeks earlier vs. 4.21 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, 150 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 36.8% of supply of homes for sale vs. 32.9% countywide.
  • Homes for sale in Orange represent 3.7% of Orange County inventory — and 4.1% of all the distressed homes listed for sale in Orange County. New escrows here are 3.4% of all Orange County’s new pending sales.

VILLA PARK

  • 33 residences listed in brokers’ MLS system with 7 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 4.71 months vs. 4.71 months found two weeks earlier vs. 10.00 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, 2 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 6.1% of supply of homes for sale vs. 32.9% 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? 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.

    • Did you miss?

    1. Estate with 20-car garage gets $3.5 million chop
    2. Newport mansion sells for $12.5 million off
    3. Another Irvine family home hits market
    4. Balboa home sells at $20 million discount
    5. Land cost for Newport mansion: $15.5 million


    Open all references in tabs: [1 – 5]