Where is real estate healthier: Coto or Dove?

Posted on by Listify Me

Where is real estate healthier: Coto or Dove? Every two weeks, Steve Thomas of ReportsOnHousing.com publishes a study of the supply of local homes for sale. Here’s what the latest report — as of January 5 — details about these two neighboring South County markets.

COTO DE CAZA



  • 108 residences listed in brokers’ MLS system with 14 new deals opening in the past 30 days.
  • By Thomas’s math, this community has a “market time” (months it theoretically would take to sell all inventory at current pace of new escrows) of 7.71 months vs. 4.68 months found two weeks earlier vs. 6.88 months seen a year earlier. Countywide, latest market time was 3.65 months vs. 5.10 months a year ago.

    • months a year ago.

  • Of the homes listed for sale in this community, 45 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 41.7% of supply of homes for sale vs. 38.7% countywide.
  • Homes for sale in Coto De Caza represent 1.3% of Orange County inventory — and 1.4% of all the distressed homes listed for sale in Orange County. New escrows here are 0.6% of all Orange County’s new pending sales.

DOVE CANYON

  • 19 residences listed in brokers’ MLS system with 4 new deals opening in the past 30 days.
  • By Thomas’s math, this community has a “market time” (months it theoretically would take to sell all inventory at current pace of new escrows) of 4.75 months vs. 3.80 months found two weeks earlier vs. 2.67 months seen a year earlier. Countywide, latest market time was 3.65 months vs. 5.10 months a year ago.
  • Of the homes listed for sale in this community, 9 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 47.4% of supply of homes for sale vs. 38.7% countywide.
  • Homes for sale in Dove Canyon represent 0.2% of Orange County inventory — and 0.3% 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? Portola Hills was tops — 87.5% — followed by Rancho Santa Marg. at 66.4% of listings and Ladera Ranch at 66.1% of listings.
  • Fewest? Corona Del Mar was tops — 4.4% — followed by Seal Beach at 4.7% of listings and Laguna Woods at 8.1% 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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