Faster housing market: Anaheim or Santa Ana?

Every two weeks, Steve Thomas of ReportsOnHousing.compublishes a study of the supply of local homes for sale. Here’s what the latest report — as of March 15 — details about

ANAHEIM

• 388 residences listed in brokers’ MLS system with 241 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 1.61 months vs. 1.87 months found two weeks earlier vs. 3.54 months seen a year earlier. Countywide, latest market time was 1.86 months vs. 3.63 months a year ago.
• So, homes in this community sell — in theory — in 13% less time than the countywide pace.
• Of the homes listed for sale in this community, 218 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 56.2% of supply of homes for sale vs. 28.9% countywide.
• Homes for sale in Anaheim represent 5.6% of Orange County inventory — and 10.9% of all the distressed homes listed for sale in Orange County. New escrows here are 6.4% of all Orange County’s new pending sales.

ANAHEIM HILLS

• 128 residences listed in brokers’ MLS system with 72 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 1.78 months vs. 1.54 months found two weeks earlier vs. 3.43 months seen a year earlier. Countywide, latest market time was 1.86 months vs. 3.63 months a year ago.
• Of the homes listed for sale in this community, 41 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 32.0% of supply of homes for sale vs. 28.9% countywide.
• Homes for sale in Anaheim Hills represent 1.8% of Orange County inventory — and 2.0% of all the distressed homes listed for sale in Orange County. New escrows here are 1.9% of all Orange County’s new pending sales.

• 340 residences listed in brokers’ MLS system with 231 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 1.47 months vs. 1.78 months found two weeks earlier vs. 3.23 months seen a year earlier. Countywide, latest market time was 1.86 months vs. 3.63 months a year ago.
• So, homes in this community sell — in theory — in 21% less time than the countywide pace.
• Of the homes listed for sale in this community, 157 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 46.2% of supply of homes for sale vs. 28.9% countywide.
• Homes for sale in Santa Ana represent 4.9% of Orange County inventory — and 7.8% of all the distressed homes listed for sale in Orange County. New escrows here are 6.2% 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 — 76.9% — followed by Stanton at 60.9% of listings and Aliso Viejo at 57.0% of listings.
• Fewest? Los Alamitos was tops — 0.0% — followed by Corona Del Mar at 2.6% of listings and Seal Beach at 3.0% 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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