Homebuying in Westminster sped up 13% in two weeks.

The Westminster market for homes for sale appears energetic by one analyst’s math.

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 Westminster …

• 123 residences listed in brokers’ MLS system with 46 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 2.67 months vs. 3.08 months found two weeks earlier vs. 3.23 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 16% less time than the countywide pace.
• Of the homes listed for sale in this community, 43 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 35.0% of supply of homes for sale vs. 37.0% countywide.
• Homes for sale in Westminster represent 1.5% of Orange County inventory — and 1.4% of all the distressed homes listed for sale in Orange County. New escrows here are 1.8% 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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