Gary Watt is back in action: Orange County Market Stats
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Gary Watt's is back on target giving real estate professionals statistically information they can use out in the field. According to the his latest report some of the numbers for our beloved Orange County are as follows:
78.1% of homeowners have a mortgage.
35.0% have negative equity.
38.7% are within 5% of having negative equity.
As of June 1st: Listing inventory is 10,1117 properties, up 39% from last year.
Marketing time for homes under $1M is 2.71 months and above is 8.89 months.
30% of our inventory is distressed properties: 17% are foreclosures, with an ave. market time of 1.45 months. 83% are short sales, with an ave. market time of 2.09 months.
44.8% of our inventory is priced under $500,000.00 with 72% being distressed properties.
26.1% of our listing inventory is sitting vacant.