Laguna Niguel listings: 35% distressed homes
By JONATHAN LANSNER, OC REGISTER, 1/31/2012
Home-buying in Laguna Niguel sped up 14% in two weeks — with one-third of the local listings being distressed homes. Here’s what the latest report — as of January 19 — details about Laguna Niguel …
Real estate for sale in Laguna Niguel appears on the upswing!
- 266 residences listed in brokers’ MLS system with 98 new deals opening in the past 30 days.
- This community has a “market time” (months in would take to sell all inventory at current pace of new escrows) of 2.71 months vs. 3.16 months found two weeks earlier vs. 4.01 months seen a year earlier. Countywide, latest market time was 3.20 months vs. 4.75 months a year ago.
- So, homes in this community sell — in theory — in 15% less time than the countywide pace.
- Of the homes listed for sale in this community, 92 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 34.6% of supply of homes for sale vs. 37.0% countywide.
- Homes for sale in Laguna Niguel represent 3.3% of Orange County inventory — and 3.1% of all the distressed homes listed for sale in Orange County. New escrows here are 3.9% of all Orange County’s new pending sales.
Compare these trends to countywide patterns:
- Cities with highest level of distressed properties among their listings? Portola Hills was tops — 81.8% — followed by Stanton at 71.0% of listings and Rancho Santa Marg. at 68.6% of listings.
- Fewest? Seal Beach was tops — 3.9% — followed by Corona Del Mar at 5.1% of listings and Laguna Woods at 9.8% of listings.
Let’s hope this trend of increased unit movement continues and please call me if I can be of title assistance.