Distressed Listings Up 58% Since Start of 2010
Thursday, September 23, 2010
As reported in the OC Register, 9/23/10
- The number of distressed homes on the market grew by 110 in the past 2 weeks (since Sept. 16), with 4,026 foreclosures and short sales listed. That level hasn’t been seen since April, 2009.
- O.C. started the year with 2,555 distressed listings, and that category has since gone up by 58%. The distressed inventory now represents 34% of all listings.
- A year ago at this time, there were 2,384 distressed homes on the market, 1,642 fewer than today. The number of foreclosures within the active listing inventory increased by 24 homes in the past two weeks from 684 to 708.
- Short sales, where a homeowner attempts to sell for less than what’s owed on the mortgage, if there’s lender approval, went up by 86 homes over the past 2 weeks and now total 3,318.
.
| Slice | All inventory | Distressed | Share |
|---|---|---|---|
| By price: | |||
| O.C. $0-$250k | 1,677 | 955 | 56.9% |
| O.C. $250-$500k | 4,134 | 2,083 | 50.4% |
| O.C. $500k-$750k | 2,694 | 668 | 24.8% |
| O.C. $750k-$1m | 1,212 | 185 | 15.3% |
| O.C. $1m-$1.5m | 840 | 84 | 10.0% |
| O.C. $1.5m-$2m | 457 | 27 | 5.9% |
| O.C. $2m-4m | 645 | 28 | 4.3% |
| O.C. $4m+ | 353 | 6 | 1.7% |
| All of O.C.: | 11,892 | 4,026 | 33.9% |
| Attached | 4,488 | 1,924 | 42.9% |
| Detached | 7,381 | 2,087 | 28.3% |
| County high share: | |||
| Portola Hills | 25 | 16 | 64.0% |
| Rancho Santa Marg. | 246 | 155 | 63.0% |
| Anaheim | 590 | 365 | 61.9% |
| Ladera Ranch | 180 | 106 | 58.9% |
| Santa Ana | 623 | 366 | 58.7% |
| Foothill Ranch | 50 | 28 | 56.0% |
| Aliso Viejo | 258 | 141 | 54.7% |
| La Habra | 200 | 107 | 53.5% |
| County low share: | |||
| Seal Beach | 308 | 9 | 2.9% |
| Laguna Woods | 366 | 25 | 6.8% |
| Laguna Beach | 385 | 28 | 7.3% |
| Corona Del Mar | 179 | 14 | 7.8% |
| Newport Beach | 578 | 60 | 10.4% |
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