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Health & Fitness

Is Real Estate Turning the Corner in RSM?

Based on the latest figures in Orange County, Rancho Santa Margarita leads the real estate recovery.

Julie/Greg Schnieders, Neighbor
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According to a housing specialist, Rancho Santa Margarita had Orange county's best housing market in the month leading up to Thanksgiving.

Here's a snippet of the report by Steve Thomas of ReportsOnHousing.com:

HottestSupplyDealsMon.Yr. agoPrice Rancho Santa Marg. 19 61 0.3 2.2 $456k Foothill Ranch 7 21 0.3 2.1 $432k Dove Canyon 4 9 0.4 5.0 $821k Aliso Viejo 39 83 0.5 2.4 $514k Lake Forest 37 68 0.5 2.3 $518k CountySupplyDealsMon.Yr. agoPrice All of O.C. 3,534 3,013 1.2 3.1 $1.4m CoolestSupplyDealsMon.Yr. agoPrice Corona Del Mar 76 15 5.1 5.9 $3.0m Laguna Beach 171 42 4.1 6.4 $4.5m Newport Coast 67 18 3.7 5.8 $6.2m Dana Point 148 41 3.6 4.5 $2.4m Newport Beach 255 79 3.2 9.1 $2.9m

In the 30 days ending on Nov. 21, Rancho Santa Margarita had 19 homes for sale and 61 homes enter into escrow. Thomas said the city would need only nine days to sell off all of its listings. 

Find out what's happening in Rancho Santa Margaritawith free, real-time updates from Patch.

Other communities in the top five included a heavy emphasis on the RSM area and south Orange County. The coldest market centered along the beach in which Thomas determined it would take three to five months to sell of homes in Corona del Mar, Laguna Beach, Newport Coast, Dana Point and Newport Beach.

Joining Rancho Santa Margarita as hot properties were, in order or heat, Foothill Ranch, Dove Canyon, Aliso Viejo and Lake Forest; it would take 10 to 17 days to sell all the homes in those areas.

Find out what's happening in Rancho Santa Margaritawith free, real-time updates from Patch.

According to Thomas' figures:

  • The five “hardest to buy” markets comprised 3 percent of the homes for sale in Orange County but they represented 8 percent of homes entering escrow.
  • The five “hardest to sell” markets comprised 20 percent of homes for sale, but accounted for only 6 percent that went into escrow.
  • Overall, it was a seller's market with 79 percent of county communities boasting sell-off time of less than 2 months.
  • At the current sales pace countywide, the 3,534 homes for sale in Orange County would be sold in 35 days.
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