Distressed property 43% of Brea homes for sale

Posted on by Listify Me

Real estate for sale in Brea appears on the upswing by one set of statistics.

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 19 — details about Brea …



  • 70 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 2.59 months vs. 2.61 months found two weeks earlier vs. 3.33 months seen a year earlier. Countywide, latest market time was 3.20 months vs. 4.75 months a year ago.
  • So, homes in this community sell — in theory — in 19% less time than the countywide pace.
  • Of the homes listed for sale in this community, 30 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 42.9% of supply of homes for sale vs. 37.0% countywide.
  • Homes for sale in Brea represent 0.9% of Orange County inventory — and 1.0% of all the distressed homes listed for sale in Orange County. New escrows here are 1.1% 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 — 81.8% — followed by Stanton at 71.0% of listings and Rancho Santa Marg. at 68.6% of listings.
  • Fewest? Seal Beach was tops — 3.9% — followed by Corona Del Mar at 5.1% of listings and Laguna Woods at 9.8% 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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