Hotter housing: Seal Beach or Los Alamitos?

Posted on by Listify Me

Hotter housing: Seal Beach or Los Alamitos?

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 June 21 — details about these two nearby markets:



SEAL BEACH

  • 255 residences listed in brokers’ MLS system with 52 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 4.90 months vs. 4.90 months found two weeks earlier vs. 5.60 months seen a year earlier. Countywide, latest market time was 1.53 months vs. 3.72 months a year ago.
  • So, homes in this community sell — in theory — in 221% more time than the countywide pace.
  • Of the homes listed for sale in this community, 2 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 0.8% of supply of homes for sale vs. 17.6% countywide.
  • Homes for sale in Seal Beach represent 4.5% of Orange County inventory — and 0.2% of all the distressed homes listed for sale in Orange County. New escrows here are 1.4% of all Orange County’s new pending sales.

LOS ALAMITOS

  • 13 residences listed in brokers’ MLS system with 13 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 1.00 months vs. 1.67 months found two weeks earlier. Countywide market time was 1.53 months vs. 3.72 months a year ago.
  • So, homes in this community sell — in theory — in 35% less time than the countywide pace.
  • Of the homes listed for sale in this community, 1 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 7.7% of supply of homes for sale vs. 17.6% countywide.
  • Homes for sale in Los Alamitos represent 0.2% of Orange County inventory — and 0.1% of all the distressed homes listed for sale in Orange County. New escrows here are 0.4% of all Orange County’s new pending sales.

Compare these trends to countywide patterns:

  • Cities with highest level of distressed properties among their listings? Stanton was tops — 43.3% — followed by Buena Park at 43.2% of listings and Anaheim at 43.2% of listings.
  • Fewest? Portola Hills was tops — 0.0% — followed by Seal Beach at 0.8% of listings and Corona Del Mar at 2.9% of listings.

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