Corona del Mar Most Challenging Place to Sell O.C. Home at Current Market Time Pace

Corona del Mar homes were the most challenging to sell in Orange County last month at current market time pace.

Hottest	Supply	Deals	Mon.	Yr. ago	Price
Portola Hills	21	11	1.9	1.4	$339k
Foothill Ranch	51	21	2.4	1.4	$483k
Buena Park	175	68	2.6	1.3	$385k
Santa Ana	552	213	2.6	1.8	$342k
Ladera Ranch	174	62	2.8	1.1	$691k
Garden Grove	335	118	2.8	1.9	$381k
Lake Forest	192	61	3.1	1.5	$441k
Placentia	150	47	3.2	1.4	$443k
Rancho Santa Marg.	245	74	3.3	1.3	$364k
Mission Viejo	390	117	3.3	1.6	$528k
County	Supply	Deals	Mon.	Yr. ago	Price
All of O.C.	11,151	2,670	4.2	2.4	$895k
Coolest	Supply	Deals	Mon.	Yr. ago	Price
Corona Del Mar	170	16	10.6	10.7	$3.2m
Laguna Beach	329	34	9.7	8.3	$3.3m
Dana Point	281	31	9.1	5.6	$1.5m
Newport Beach	532	60	8.9	8.8	$2.3m
Seal Beach	291	34	8.6	4.2	$373k

Average market time at CDM was 10.6 months to sell all homes on the market.

 

This challenge at Corona del Mar probably had something to do with its average home listing price at $3.2 million.

 

Orange County homes sold the quickest in terms of market time is Portola Hills.

 

Compares supply of homes for sale vs. new purchase deals made during the past month and results in "market time" - time it would take theoretically to sell all for-sale homes at the current buying pace.

 

So the toughest market to sell the Orange County home was Corona Del Mar with market time at 10.6 months.

 

The entire Orange County home sale market had average market time of 4.2 months, and average list price of $895k (week of November 11).

 

This chart shows hottest and coldest home selling markets in O.C. (as of November 11, 2010), comparing supply for sale, new deals made, market time in months vs. one year ago and average listing price.

 

Source: Thanks to OCRegister.com and Steve Thomas, broker at Altera Real Estate, for information and graphic chart. 

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Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855

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