May 29, 2012 - - -
Eighty one percent of all the listings in Aliso Viejo are regular, old fashion sellers! What a dramatic change from December when over half of all the homes for sale were short sales!
Aliso Viejo Listing by Type:
Standard Sellers = 64 - 81%, up 22 percentage points since May 14!
Short sales = 12 - 15%, down 23 points!
Bank-owned foreclosures = 3 – 3.8%, up 0.8 points.
Distressed homes (short sales and foreclosures) are coming off the market as quickly as they are coming on! As a buyer there is almost no time to blink, you snooze, you lose. Buyers have to expect a ton of activity and immediate offers to purchase.
Inventory is down a whopping 20% since May 14 to only 79 places for sale in all of Aliso Viejo. Normal is about 200!
According to Steven Thomas, over the last 2 weeks Aliso Viejo’s Market Time dropped by 20%! As of May 24, Market Time is at 0.65 Months – heavily in favor of the sellers. The market is very difficult for buyers who are looking to stay under $500,000.
Demand is down 4% since May 10! New escrows are opening at the rate of 124 per month in Aliso Viejo. I believe “the demand” is actually higher, and more escrows would open if we had twice the inventory.
List prices in Aliso Viejo continue to climb! Half the properties in Aliso Viejo are listed over $450,000.
Aliso Viejo Listings by Price as of May 28:
Less than $350,000 = 22 residences - 28%, down 1 percentage point since May 14!
$350,000 - $475,000 = 22 - 28%, down 2 points!
And > $475,000 = 44 - 44%, up 3 points!
Beautiful House with a Panoramic View in Aliso Viejo for sale - $499,900!
to see pictures of the house!