As Reported in the OC Register, 4/6/10
A trio of neighborhoods in the Saddleback foothills are the “hardest” O.C. towns to find a home to buy in terms of “market time” (supply of homes for sale vs. new purchase deals inked in past month): Rancho Santa Margarita, Portola Hills and Foothill Ranch — all at 1.2 months to theoretically sell all for-sale homes at the current buying pace.
The 5 “hardest to buy” markets combined — toss in Aliso Viejo and Lake Forest — have a market time of 1.3 months and comprised 5% of the supply of homes for sale and 10% of homes in escrow countywide.
“Hardest” market to sell a home in, based on the same math, is Corona Del Mar with market time at 9.7 months to theoretically sells all for-sale homes at the current buying pace. A year ago, this town was at 21.7 months.
The 5 “hardest to sell” markets have a combined market time of 7.5 months and were 17% of the Orange County supply of homes for sale and 5% of homes in escrow.
Overall countywide market time was 2.5 months last week.
All told, 40% of the communities tracked by Thomas had “market times” less than 2 months, a clear sellers’ market. Four weeks ago? 23% – and it was 20% a year ago.
Chart at right looks at the 5 hottest and 5 coldest markets in O.C. as of last Thursday (supply for sale; new deals made; market time in months vs. a year ago and average listing price)
| Hottest | Supply | Deals | Mon. | Yr. ago | Price |
| Rancho Santa Marg. |
130 |
113 |
1.2 |
1.9 |
$383k |
| Portola Hills |
15 |
13 |
1.2 |
1.2 |
$489k |
| Foothill Ranch |
37 |
31 |
1.2 |
2.0 |
$441k |
| Aliso Viejo |
139 |
107 |
1.3 |
2.3 |
$448k |
| Lake Forest |
124 |
85 |
1.5 |
2.3 |
$466k |
| County | Supply | Deals | Mon. | Yr. ago | Price |
| All of O.C. |
8,911 |
3,622 |
2.5 |
3.4 |
$1.1m |
| Coolest | Supply | Deals | Mon. | Yr. ago | Price |
| Corona Del Mar |
174 |
18 |
9.7 |
21.7 |
$3.0m |
| Laguna Beach |
357 |
44 |
8.1 |
16.0 |
$3.5m |
| Newport Beach |
552 |
73 |
7.6 |
13.7 |
$2.4m |
| Newport Coast |
148 |
21 |
7.0 |
12.4 |
$4.1m |
| Seal Beach |
261 |
42 |
6.2 |
9.9 |
$413k |
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