Orange County Register

Not only is Laguna Beach continuing its run as the second slowest housing market in the county, it’s also ranks as the market with the second highest average active listing price in Orange County, according to a biweekly report by Steven Thomas of Altera Real Estate.

Though the coastal community saw the expected market time speed up from two weeks ago, Laguna Beach can’t catch a break - down to 8.49 months from 10.31 months, second behind Corona Del Mar with an expected time of 11.69 months.

Dana Point also trimmed its expected market time a bit - down to 5 months from 5.18 months two weeks ago.

Also enjoying a speedier market time is San Clemente - down to 3.35 months from 3.77 months.

The city with the shortest expected market time is Foothill Ranch with .97 months (or just under a month).

Countywide, the market time dropped slightly to 2.45 months from 2.48 months.

Thomas says the following about market time countywide:

“The expected market time last year was at 5.19 months and two years ago it was at 14.06 months. That’s correct. The current expected market time for the entire market, including the sluggish upper end, is two-and-a-half months. For homes priced below $1 million, the expected market time is 1.89 months. For homes priced above $1 million, the expected market time is 9.27 months.”

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