Corona del Mar: O.C.’s hardest homes to sell

as of October 28 …




Hottest Supply Deals Mon. Yr. ago Price

Buena Park 161 68 2.4 1.7 $386k

Santa Ana 571 238 2.4 1.7 $339k

Foothill Ranch 52 19 2.7 1.0 $499k

Garden Grove 344 122 2.8 1.4 $382k

Ladera Ranch 172 60 2.9 1.5 $724k

County Supply Deals Mon. Yr. ago Price

All of O.C. 11,425 2,672 4.3 2.4 $909k

Coolest Supply Deals Mon. Yr. ago Price

Corona Del Mar 176 15 11.7 11.7 $3.0m

Laguna Beach 343 32 10.7 8.5 $3.5m

Newport Beach 541 62 8.7 8.1 $2.3m

Dana Point 282 37 7.6 5.0 $1.5m

Coto De Caza 128 18 7.1 7.4 $2.0m

“Hardest” market to sell a home in — in terms of “market time” (supply of homes for sale vs. new purchase deals inked in past month) — is Corona Del Mar with market time at 11.7 months to theoretically sells all for-sale homes at the current buying pace. A year ago, this town was at 11.7 months.

The 5 “hardest to sell” markets have a combined market time of 9.0 months and were 13% of the supply of homes for sale and 6% of homes in escrow.

The “hardest” O.C. town to find a home to buy in terms of “market time” (supply of homes for sale vs. new purchase deals inked in past month) is Buena Park at 2.4 months to theoretically sell all for-sale homes at the current buying pace. A year ago, this town was at 1.7 months.

The 5 “hardest to buy” markets combined have a market time of 2.6 months and comprised 11% of the supply of homes for sale and 19% of homes in escrow.

All told, countywide market time was 4.3 months last week.

All told, 0% of the communities tracked by Thomas had “market times” less than 2 months, a clear sellers’ market. Four weeks ago? 0% – and it was 50% 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) by Thomas’ market time math.

http://lansner.ocregister.com/2010/11/07/corona-del-mar-o-c-s-hardest-homes-to-sell/87494/