Sizzle Back in Surf City Housing?
By JONATHAN LANSNER
Real estate for sale in Huntington Beach looks upbeat by one set of statistics.
Every two weeks, Steve Thomas of ReportsOnHousing.com publishes a study of the supply of local homes for sale. Here’s what the latest report — as of November 10 — details about Huntington Beach …
554 residences listed in brokers’ MLS system with 167 new deals opening in the past 30 days.
- By Thomas’s math, this community has a “market time” (months in would take to sell all inventory at current pace of new escrows) of 3.32 months vs. 3.70 months found two weeks earlier vs. 4.32 months seen a year earlier. Countywide, latest market time was 3.27 months vs. 4.18 months a year ago.
- So, homes in this community sell — in theory — in 1% more time than the countywide pace.
- Of the homes listed for sale in this community, 172 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 31.0% of supply of homes for sale vs. 36.6% countywide.
- Homes for sale in Huntington Beach represent 5.8% of Orange County inventory — and 4.9% of all the distressed homes listed for sale in Orange County. New escrows here are 5.7% 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 — 75.0% — followed by Rancho Santa Marg. at 68.9% of listings and Ladera Ranch at 66.7% of listings.
- Fewest? Corona Del Mar was tops — 3.8% — followed by Seal Beach at 5.2% of listings and Laguna Woods at 7.6% of listings.