Home-selling time drops in what 4 Orange County towns? | Irvine Real Estate | Irvine Homes for Sale

by Robert Mack on January 11, 2011

in Latest News, Sellers

We decided to look at the first housing inventory report of 2011 from Steve Thomas at Altera Real Estate — as of January 6 – and compare that to the year-ago trends to see what markets had improved in the past year.

Thomas calculates a “market time” benchmark tracking how many months it theoretically takes to sell all the inventory in the local MLS for-sale listings at the current pace of pending deals being made.

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What we found reviewing Thomas’ market times by Orange County town was that just four markets — Corona del Mar, Dove Canyon, Newport Coast and Laguna Beach  — had shortened selling times in the past year. 

With just four small, luxury markets on the mend countywide, you can better understand why the year starts with Orange County’s market time at 5.1 months — up 1.9 months or 58% in a year!

PS: Just one price segment showed improved market time — $2 million to $4 million, down 28%!

Posted on Irvine Orange County Real Estate Market News

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