24 Feb 2008

North Orange County Real Estate Market ~ Who’s Hot and Who’s Not?


money-house-small.jpgAs everyone knows, the one-time red-hot Orange County real estate market has cooled it’s heels along with other communities around the U.S. Now that’s not to say all area have cooled equally, either inside or outside of CA. I’m told there are still several places in the county where properties are selling at a more substantial pace.

Yet for this report we are speaking of NOC=North Orange County, well maybe some of central OC too. The stats below are a composite the currently “month’s supply” of re-sale homes currely for sale.   And as you will see there is a wide range of “days on the market”  within this portion of the county.

Yes, all men (and women for that matter) may be created equal, yet not all areas are the same when it comes to good old real estate in So-Cal. Here’s the latest for days on the market, measured in months for our residential real estate supply as calculated in January 2008.

  • ANAHEIM ~ 14.6
  • BREA ~ 7.0
  • BUENA PARK ~ 10.1
  • FULLERTON ~ 8.0
  • GARDEN GROVE ~ 10.9
  • LA HABRA ~ 11.2
  • LA HABRA HEIGHTS ~ 15.1 (Actually located in Los Angeles County, yet used for analysis here)
  • LA PALMA ~ 8.2
  • ORANGE ~ 9.3
  • PLACENTIA ~ 9.0
  • STANTON ~ 10.7
  • TUSTIN ~ 9.7
  • TUSTIN (NORTH) ~ 7.0
  • VILLA PARK ~ 11.1
  • YORBA LINDA ~ 7.3

Month’s supply/inventory is based on several factors, first we assume there are no new properties coming on the market, right? Then second, this calculation is based on an equal pace/rate of sales as experienced in 2007.

I’m often asked how long do you think it will take to sell my home?  Or when do you think I should put my home on the market? My answer is it depends. It depends on many factors, location (based on above data) price, condition and the agent you choose. You control three out of four, not bad.

If you’re thinking of marketing and selling your Orange County home, contact me Lynda@PreferredHomeBrokers.com or text me at (714) 595-1494.

-Market data/SoCalMLS=Southern California Multiple Listing Service.

About the Author

I maintains an active residential re-sale brokerage in Brea, CA, located in Orange County, about 20 minutes north of Disneyland. Contact Lynda directly at (714) 595-1494, or Lynda@PreferredHomeBrokers.com – CA License #00402040

4 Responses to North Orange County Real Estate Market ~ Who’s Hot and Who’s Not?
  1. Lynda, these numbers don’t look bad at all. I have areas I service where the corresponding numbers are 142…yes, twelve years worth of inventory. =) Enjoy your sprightly market!

    Maggie Dokic

  2. Hey Maggie,
    So good hearing from you! My goodness, thanks for the update and info on So. FL. Guess we should feel grateful!

    My best to you in beautiful Miami!

  3. Lynda,
    We might have to move to SC in a year or so, probably around Laguna Niguel area. We presently live in Walnut Creek, a beautiful city just 20 miles from the Bay Bridge in the East Bay. We live in Rancho Paraiso, a small 200 home upscale community. Average price 1.2 million. Any suggestions?

  4. Hi Brenda,

    Thanks for the visit, and I’m somewhat familiar with your beautiful community of Walnut Creek. My son and his family live next door in Concord, so I’ve been there many times.

    In some ways Walnut Creek reminds me of many of our SoCal cities. If you’re considering Laguna Niguel you will have a wide variety of homes to choose from in that price range and a little lower.
    Some are smaller upscale neighborhoods as you described, yet probably not as many mature trees ad compared to Walnut Creek. The average lot size is probably smaller than you have now, yet many of the homes do have lovely views. So with that said, I think it could be considered a trade-off.

    Depending on lot size, square footage and the view you could have a lot to choose from at your existing price of slightly lower.

    I’ll keep in touch with area updates for you.

    Lynda Eisenmann


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