Faster home market: Laguna Hills or Laguna Niguel?

Posted on by Listify Me

Is homebuying hotter in Laguna Hills or Laguna Niguel?

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 Laguna Hills and Laguna Niguel …



LAGUNA HILLS

  • 88 residences listed in brokers’ MLS system with 61 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 1.44 months vs. 1.60 months found two weeks earlier vs. 2.68 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 22% less time than the countywide pace.
  • Of the homes listed for sale in this community, 31 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 35.2% of supply of homes for sale vs. 28.9% countywide.
  • Homes for sale in Laguna Hills represent 1.3% of Orange County inventory — and 1.5% of all the distressed homes listed for sale in Orange County. New escrows here are 1.6% of all Orange County’s new pending sales.

LAGUNA NIGUEL

  • 236 residences listed in brokers’ MLS system with 142 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 1.66 months vs. 1.85 months found two weeks earlier vs. 2.70 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 11% less time than the countywide pace.
  • Of the homes listed for sale in this community, 58 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 24.6% of supply of homes for sale vs. 28.9% countywide.
  • Homes for sale in Laguna Niguel represent 3.4% of Orange County inventory — and 2.9% of all the distressed homes listed for sale in Orange County. New escrows here are 3.8% 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 — 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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