Wednesday, October 31, 2012

NOVEMBER 2012 SOUTH ORANGE COUNTY REAL ESTATE MARKET CONDITIONS ORANGE COUNTY CA

Laguna Coastline
Scott Brashier


HOME SALE PRICES CLIMB, SALES DECLINE DUE TO LOW INVENTORY
The median price paid for a SoCal rose again in September to a more-than-four-year high yet with inventory low, the amount of sales dropped. For the first time in nine months sales declined compared with a year earlier as low-end home deals have sold and foreclosure resales hit a nearly five-year low.

The median sale price has risen mainly for two reasons.
1. Higher demand, triggered largely by ultra-low mortgage rates.
2. There is now a dwindling supply of homes for sale with the mid- to high-end move-up properties picking up more sales.

In September, price levels for the lowest-cost 1/3 of housing stock rose 13.2%, while they rose 7.7% in the middle range and 3.5% in the top third.

OCTOBER STATISTICS FOR LAGUNA BEACH:
183 homes for sale
63 in escrow
40 closed sales from 10/01/12 - 10/31/12

40 Sales for October 2012:
12 sales under $1 million
17 sales $1-2 million
5 sales $2-3 million
3 sales $3-4 million
2 sales $6-7 million

*Higher price ranges moving up in sale amounts as low end homes drop off due to lack of inventory.
*SoCalMLS, DQNews 11/01/12
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COASTAL AREA SALES AND DISTRESS SALE STATISTICS FOR 2012 FROM 01/01/12:

Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 1139 Distressed = 68
In Escrow Listings = 986 Distressed = 416
Sold from 01/01/12 = 4,421 Distressed = 1,208

*Distress sale amounts are decreasing.
*SoCalMLS 11/01/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR SEPTEMBER 2011 COMPARED TO SEPTEMBER 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $2,395,000 - 6.4%
Capo Beach - 92624 - 13 - $560,000 - 12.4%
Corona del Mar - 92625 - 21 - $1,330,000 - minus 19.9%
Costa Mesa - 92626 - 24 - $502,000 - 4.3%
Costa Mesa - 92627 - 20 - $500,000 - 1.2%
Dana Point - 92629 - 22 - $717,000 - 12.5%
Laguna Beach - 92651 - 35 - $1,325,000 - 10.4%
Laguna Niguel - 92677 - 44 - $698,000 - 8.7%
Newport Beach - 92660 - 37 - $1,310,000 - 14.4%
Newport Beach - 92661 - 6 - $2,115,000 - minus 29.2%
Newport Beach - 92663- 16 - $2,108,000 - 84.5%
Newport Coast - 92657 - 15 - $1,690,000 - 45.2%
San Clemente - 92672 - 27 - $700,000 - 41.7%
San Clemente - 92673 - 38 - $668,000 - minus 8.7%

*DataQuickNews 11/01/2012
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ZIP Codes: 92662, 92625, 92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673

Approximate Location Boundaries: Coastal Communities of South Orange County

Location Characteristics: Specializing in the South Orange County California Coastal Cities known as the "California Riviera." The cities are Balboa Island, Corona Del Mar, Costa Mesa, Dana Point, Laguna Beach, Newport Beach, Newport Coast and San Clemente. From "Castles to Cottages" there is a home here for everyone. Pamela Horton and Amanda Horton look forward to helping you with your real estate needs in this picturesque area!

 
 
 




Wednesday, October 3, 2012

OCTOBER 2012 SOUTH ORANGE COUNTY REAL ESTATE MARKET CONDITIONS ORANGE COUNTY CA

Laguna Hotel Car Art - Ken Erickson

SOUTHLAND HOME SALES HIT 6-YEAR HIGH; MEDIAN EDGES HIGHER

Southern California home sales rose to the highest level for the month of August in six years, fueled by low mortgage rates, a healthier move-up market and near-record levels of investor and cash buying. The median price paid for a home rose to a four-year high, lifted partly by the ongoing shift toward fewer foreclosure resales and more mid- to high-end deals,

August was the strongest month for home sales so far this year, and the strongest for an August in six years. That's really saying something given the drop in low-end sales, especially foreclosure resales. Much of the pickup in activity reflects a continuation of trends we've seen for months, like the unleashing of pent-up demand in move-up markets and high levels of cash and investor buying.


SEPTEMBER STATISTICS FOR LAGUNA BEACH:
186 homes for sale
74 in escrow
29 closed sales from 9/1/12 - 9/30/12

29 Sales for September 2012:
7 sales under $1 million
12 sales $1-2 million
5 sales $2-3 million
1 sale for $3,175,000
2 sales $4-5 million
1 sale for $6,625,000
1 sale for $20.000.000

*Higher price ranges starting to sell more.
*SoCalMLS, DQNews 10/03/12
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COASTAL AREA SALES AND DISTRESS SALE STATISTICS FOR 2012 FROM 01/01/12:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 1,234 Distressed = 75
In Escrow Listings = 1,039 Distressed = 439
Sold from 01/01/12 = 4,001 Distressed = 1123

*Distress sales are lowering
*SoCalMLS 10/03/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR AUGUST 2011 COMPARED TO AUGUST 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - N/A - N/A - N/A
Capo Beach - 92624 - 87 - $598,000 - 3.9%
Corona del Mar - 92625 - 20 - $1,605,000 - minus 7%
Costa Mesa - 92626 - 34 - $510,000 - 6.5%
Costa Mesa - 92627 - 27 - $540,000 - 19.6%
Dana Point - 92629 - 31 - $700,000 - 20%
Laguna Beach - 92651 - 37 - $1,500,000 - 46.7%
Laguna Niguel - 92677 - 74 - $660,000 - 48.7%
Newport Beach - 92660 - 54 - $1,276,000 - 2.1%
Newport Beach - 92661 - 5 - $1,575,000 - minus 12.5%
Newport Beach - 92661- 19 - $2,017,000 - 56.7%
Newport Coast - 92657 - 23 - $2,700,000 - 54.8%
San Clemente - 92672 - 35 - $725,000 - 24.5%
San Clemente - 92673 - 32 - $700,000 - 4.5%

*DataQuickNews 10/03/2012
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ZIP Codes: 92662, 92625, 92626, 92627, 92624, 92629, 92651, 92677, 92657, 92657, 92660, 92661, 92662, 92663, 92672, 92673

Approximate Location Boundaries: Coastal Communities of South Orange County

Location Characteristics: Specializing in the South Orange County California Coastal Cities known as the "California Riviera." The cities are Balboa Island, Corona Del Mar, Costa Mesa, Dana Point, Laguna Beach, Newport Beach, Newport Coast and San Clemente. From "Castles to Cottages" there is a home here for everyone. Pamela Horton and Amanda Horton look forward to helping you with your real estate needs in this picturesque area!