Seal Beach: OC's fewest distressed homes for sale - OCRegister
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One analysis of real estate for sale in Seal Beach shows the market sluggish in its last tabulation.
Every two weeks, Orange County broker Steve Thomas publishes a report on the supply of local homes for sale. Here's what the latest report -- as of September 15 -- has to say about Seal Beach …
- 293 residences listed in brokers' MLS system with 55 new deals opening in the past 30 days.
- By Thomas's math, this community has a "market time" (months in would take to sell all inventory at current pace of new escrows) of 5.33 months vs. 5.25 months found two weeks earlier vs. 8.32 months seen a year earlier. Countywide, latest market time was 3.59 months vs. 4.42 months a year ago.
- So, homes in this community sell -- in theory -- in 48% more time than the countywide pace.
- Of the homes listed for sale in this community, 14 were either foreclosures being resold or short sales, where sellers owe more than the home's value. So distressed properties were 4.8% of supply of homes for sale vs. 34.1% countywide.
- Homes for sale in Seal Beach represent 2.8% of Orange County inventory -- and 0.4% of all the distressed homes listed for sale in Orange County. New escrows here are 1.9% of all Orange County's new pending sales.
Compare these trends to countywide patterns:
- Cities with highest level of distressed properties among their listings? Buena Park was tops -- 60.0% -- followed by Anaheim at 59.4% of listings and Rancho Santa Marg. at 58.7% of listings.
- Fewest? Seal Beach was tops -- 4.8% -- followed by Corona Del Mar at 5.1% of listings and Newport Coast at 7.5% of listings.
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For more real estate news, CLICK HERE! For ZIP-by-ZIP homebuying trends, CLICK HERE! And for the latest housing foibles of Real Housewives of Orange County cast, CLICK HERE!
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Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH0mXdgn2DzaQOq8Gy3EkxGLElZxA&url=http://www.ocregister.com/articles/seal-318810-beach-sale.html
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