Hardest O.C. home to buy? Portola Hills

Jon Lansner of the Orange County Register writes: The latest O.C. home inventory report Steve Thomas ( fellow OCAR Director), at Altera Real Estate in Aliso Viejo says that as of two weeks ago 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 Portola Hills. By his math, it would take 1 month to theoretically sell all for-sale homes at the current buying pace. A year ago, this town was at 6.2 months. Also …

  • The 5 “hardest to buy” markets combined have a market time of 1.3 months and comprised 5% of the supply of homes for sale.
  • “Hardest” market to sell a home in, based on the same math, is Corona Del Mar with market time at 18.1 months to theoretically sells all for-sale homes at the current buying pace. A year ago, this town was at 28.7 months.
  • The 5 “hardest to sell” markets have a combined market time of 9.6 months and were 19% of the supply of homes for sale.
  • All told, countywide market time was 2.9 months last week.
  • 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.
  • A year ago … hardest to buy? Fountain Valley, 2.57 months. Hardest to sell? Laguna Beach, 34.6 months.
  • Hottest Cities in Orange County

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