OC Register real estate columnist Jon Lansner blogged today about how the number of OC buyers willing to enter contracts to buy homes has dropped by a third in only four weeks.
Also in the post is an update on market time from Steve Thomas from Re/Max Real Estate Services. That means, according to the blog, "how many months it would take owners to sell all homes on the market, based on current inventory and the pace of homes in escrow or under contract."
More from Lansner: "This inventory-to-selling ratio suggests it would take 14.73 months for buyers to gobble up all homes listed for sale at the current pace of deals vs. 12.12 months two weeks earlier and vs. 7.12 months a year ago. Market time in Santa Ana, for example, is now FOUR YEARS! Yes, in theory, it would take four years to sell a Santa Ana home."
More from Lansner: "This inventory-to-selling ratio suggests it would take 14.73 months for buyers to gobble up all homes listed for sale at the current pace of deals vs. 12.12 months two weeks earlier and vs. 7.12 months a year ago. Market time in Santa Ana, for example, is now FOUR YEARS! Yes, in theory, it would take four years to sell a Santa Ana home."
The average in OC is 14.7 months. Here is how some of the South County areas shape up:
Dove Canyon: 40.0
Talega: 27.3
Laguna Beach: 19.8
Portola Hills: 19.3
San Juan: 18.5
San Juan: 18.5
San Clemente: 17.5
Laguna Hills: 16.4
Aliso Viejo: 15.5
Laguna Niguel: 15.4
Dana Point: 15.3
Lake Forest: 15.2
Ladera Ranch: 14.8
Dana Point: 15.3
Lake Forest: 15.2
Ladera Ranch: 14.8
Rancho Santa Margarita: 12.8
Canyon Areas: 11.3
Foothill Ranch: 11.1
Mission Viejo: 8.7
Coto De Caza: 7.9
Laguna Woods: 5.9
The three worst OC areas: Santa Ana: 45.9; Dove Canyon; Talega.
Yes, the numbers are high for Dove Canyon and Talega, but I wouldn't mind moving in.
Laguna Woods: 5.9
The three worst OC areas: Santa Ana: 45.9; Dove Canyon; Talega.
Yes, the numbers are high for Dove Canyon and Talega, but I wouldn't mind moving in.
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