Home market watcher Steve Thomas at Altera Real Estate in Aliso Viejo reports that the number of O.C. distressed properties (homes listed by agents as foreclosures or short sales) was 5,519 last week, -276 vs. two weeks earlier or a -4.8% change. That’s the biggest two-week drop of the year.
- As a percent of all listed homes for sale, distressed properties were 44.6% of the market last week vs. 44.8% two weeks earlier.
- Distressed properties make up 66% of pending sales.
- Since Dec. 27, 2007, the number of distressed homes on the market has grown 1,768 while the non-distressed supply is 4,895 lower.
Here’s a look at various slices of the O.C. market as of last Thursday: total inventory listings; distressed property listings; and the share distressed listings have of total inventory supply on a percentage basis in each niche …
| Slice |
All inventory |
Distressed |
Share |
| By price … |
|
|
|
| • O.C. $0-$250k |
2,142 |
1,438 |
67% |
| • O.C. $250-$500k |
4,363 |
2,838 |
65% |
| • O.C. $500k-$750k |
2,286 |
796 |
35% |
| • O.C. $750k-$1m |
1,245 |
257 |
21% |
| • O.C. $1m-$1.5m |
887 |
95 |
11% |
| • O.C. $1.5m-$2m |
582 |
38 |
7% |
| • O.C. $2m-4m |
647 |
19 |
3% |
| • O.C. $4m+ |
356 |
2 |
1% |
| All O.C. |
12,388 |
5,519 |
45% |
| • Attached |
4,890 |
2,466 |
50% |
| • Detached |
7,420 |
2,993 |
40% |
| County high share |
|
|
|
| • Santa Ana |
1,216 |
976 |
80% |
| • Anaheim |
874 |
668 |
76% |
| • Garden Grove |
466 |
337 |
72% |
| • Foothill Ranch |
62 |
43 |
69% |
| • Lake Forest |
212 |
145 |
68% |
| • Rancho Santa Marg. |
192 |
128 |
67% |
| • Buena Park |
206 |
137 |
67% |
| County low share … |
|
|
|
| • Corona Del Mar |
179 |
5 |
3% |
| • Laguna Woods |
403 |
13 |
3% |
| • Seal Beach |
318 |
11 |
3% |
| • Newport Coast |
205 |
15 |
7% |
| • Laguna Beach |
319 |
2 |