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| Laguna Coastline Scott Brashier
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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!
