Real estate for sale in Tustin looks brighter 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 September 1 — has to say about Tustin …
- SoCal home sales gains: Little reason to cheer
- South Coast home sales up 12% over year
- Home sales up in 52 O.C. ZIPs: Yours?
- O.C. home sales jump 9.5%
- Coto or Dove? Where’s housing healthier?
- Fountain Valley housing 11% quicker than O.C.
- Would you live next to Verizon Amphitheater?
- 340 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 3.09 months vs. 3.49 months found two weeks earlier vs. 4.43 months seen a year earlier. Countywide, latest market time was 3.53 months vs. 4.05 months a year ago.
- So, homes in this community sell — in theory — in 12% less time than the countywide pace.
- Of the homes listed for sale in this community, 116 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 34.1% of supply of homes for sale vs. 33.8% countywide.
- Homes for sale in Tustin represent 3.2% of Orange County inventory — and 3.2% of all the distressed homes listed for sale in Orange County. New escrows here are 3.6% of all Orange County’s new pending sales.
Compare these trends to countywide patterns:
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