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| The Ocean Is Always A Wonderous Site
MILLION
DOLLAR SALES INCREASED BY 34%, ALL HOME SALES INCREASE BY 17% IN 2012
3,631 Orange County homes sold for $1 million or more in 2012, the highest number since 2007. That’s up 34% from 2011′s tally of million-plus sales, compared to an increase of 17% for sales of all homes in the county.
Statewide,
million-plus sales increased 27% to 26,993, vs. an 8.2% increase for sales in
all price ranges. A record number of California buyers, 7,791 or 29% — paid all
cash for their mansions, Data-Quick reported. In addition, four Orange County
ZIP codes ranked among 25 in the state with the most million-plus sales:
Newport Beach’s back bay area (92660) had 362 $1 million-plus home sales, the
report said. Laguna Beach (92651) had 307, Corona del Mar (92625) had 256 and
Newport Coast (92657) had 228.
This increase is
attributed in luxury sales to a recovering economy, rising home
prices and a record number of cash purchases. The confidence in the market has returned to high-end buyers.
JANUARY STATISTICS FOR LAGUNA BEACH:
157 active listings 50 in escrow 20 closed sales from 12/01/12 - 12/31/12 20 Sales for January 2013: 7 sales under $1 million 8 sales $1-2 million 2 sales $2-3 million 3 sales $4-5 million *CRMLS, DQNews 1/31/13 ---------------------------------------------------------------- COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR DECEMBER 2011 COMPARED TO DECEMBER 2012: City - Zip Code - # Sold - Median Sale Price - % of price change: Balboa Island - 92662 - 3 - $1,665,000 - minus 28.4% Capo Beach - 92624 - 9 - $649,000 - 27.3% Corona del Mar - 92625 - 17 - $1,984,000 - 7.2% Costa Mesa - 92626 - 30 - $505,000 - 7% Costa Mesa - 92627 - 37 - $513,000 - .5% Dana Point - 92629 - 58 - $773,000 - 42% Laguna Beach - 92651 - 40 - $1,350,000 - 5% Laguna Niguel - 92677 - 64 - $650,000 - 7.2% Newport Beach - 92660 - 31 - $1,269,000 - 6% Newport Beach - 92661 - 9 - $2,375,000 - 17.3% Newport Beach - 92663- 19 - $1,653,000 - 56.6% Newport Coast - 92657 - 15 - $2,710,000 - 42.5% San Clemente - 92672 - 40 - $603,000 - 19.4% San Clemente - 92673 - 42 - $755,000 - 23.7% *Orange County posted nearly a 17% gain for the last year with sales rising in 77 of the county's 83 zip codes. *DataQuickNews/LATimes/CRMLS 1/31/13 -------------------------------------------------------------------- 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!  |
Thursday, January 31, 2013
FEBRUARY 2013 SOUTH ORANGE COUNTY REAL ESTATE
Tuesday, January 1, 2013
JANUARY 2013 SOUTH ORANGE COUNTY REAL ESTATE MARK...
CALIFORNIA
MEDIAN HOME PRICE HIGHEST YEAR-TO-YEAR INCREASE SINCE JUNE 2004
WITH INTERST RATES HISTORICLY LOW
As the statewide median price continued to register double-digit gains from year-ago levels, strong sales of higher-priced homes led to a year-over-year increase in sales in California during November. This is due to the very low inventory priced under $1 million. The negative impact of a lean housing supply on home sales is becoming more apparent.
Sale Trends: California's median home prices continued to strengthen in November, marking its highest point since August 2008. The significant increase in price is due in part to the change in the mix of sales. Coastal markets, which tend to have high-end properties, accounted for a larger share of total sales which led to stronger price gains overall.
Mortgage Interest Deduction: In the new year it is likely that sales and prices will remain solid. This is dependent upon the strength of the economy and if Congress preserves the valuable mortgage interest deduction that homeowners in California depend on.
Interest Rates: One of the key reasons real estate agents and others often cite for buying a home now is that historically low mortgage rates won't last forever. And they're right. On Thursday, Freddie Mac reported rates at 3.99% for just the second time since 1971. Projected interest rates won't get much higher over the next two years: The forecast predicts that rates will average 4% in 2012 and 4.5% in 2013.
2014 and Beyond: Forecasts then project a steep rise in mortgage rates in 2014 with interest averaging 7.3% from 2015 through 2017 and median home prices increasing 35% over the next six years in Orange County and nearly 53% in California.
DECEMBER 2012 STATISTICS FOR LAGUNA BEACH:
173 active listings
52 in escrow
38 closed sales from 12/01/12 - 12/31/12
38 Sales for December 2012:
12 sales under $1 million
12 sales $1-2 million
8 sales $2-3 million
2 sales $3-4 million
1 sale $4,460,000
1 sale $6,200,000
1 sale $14,025,000 (auction - oceanfront)
1 sale $17,500,000
*CRMLS, DQNews 1/01/13
----------------------------------------------------------------
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 = 1028 Distressed = 56
In Escrow Listings = 908 Distressed = 383
Sold from 01/01/12 = 4,891 Distressed = 1,304
*Distress sale amounts are decreasing.
*CRCalMLS 1/01/13
---------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MOVEMBER 2011 COMPARED TO NOVEMBER 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $1,930,000 - 40.9%
Capo Beach - 92624 - 6 - $575,000 - 20.0%
Corona del Mar - 92625 - 14 - $2,145,000 - 26.4%
Costa Mesa - 92626 - 21 - $515,000 - minus 27.8%
Costa Mesa - 92627 - 24 - $660,000 - 50%
Dana Point - 92629 - 29 - $705,000 - 13.3%
Laguna Beach - 92651 - 42 - $1,150,000 - 4.5%
Laguna Niguel - 92677 - 70 - $650,000 - minus 2.6%
Newport Beach - 92660 - 37 - $1,060,000 - minus 4.4%10.1%
Newport Beach - 92661 - 11 - $1,335,000 - minus 6.3%
Newport Beach - 92663- 20 - $1,263,000 - 36.3%
Newport Coast - 92657 - 21 - $2,350,000 - minus 3.19%
San Clemente - 92672 - 32 - $710,000 - 42.9%
San Clemente - 92673 - 29 - $710,000 - 18.3%
*Only 5 zip codes with lower median price year over year. Info DataQuickNews/LATimes/CRMLS 1/01/13
--------------------------------------------------------------------
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!
 |
| December Sunset and Basketball at Main Beach Photo by Leah Overstreet |
WITH INTERST RATES HISTORICLY LOW
As the statewide median price continued to register double-digit gains from year-ago levels, strong sales of higher-priced homes led to a year-over-year increase in sales in California during November. This is due to the very low inventory priced under $1 million. The negative impact of a lean housing supply on home sales is becoming more apparent.
Sale Trends: California's median home prices continued to strengthen in November, marking its highest point since August 2008. The significant increase in price is due in part to the change in the mix of sales. Coastal markets, which tend to have high-end properties, accounted for a larger share of total sales which led to stronger price gains overall.
Mortgage Interest Deduction: In the new year it is likely that sales and prices will remain solid. This is dependent upon the strength of the economy and if Congress preserves the valuable mortgage interest deduction that homeowners in California depend on.
Interest Rates: One of the key reasons real estate agents and others often cite for buying a home now is that historically low mortgage rates won't last forever. And they're right. On Thursday, Freddie Mac reported rates at 3.99% for just the second time since 1971. Projected interest rates won't get much higher over the next two years: The forecast predicts that rates will average 4% in 2012 and 4.5% in 2013.
2014 and Beyond: Forecasts then project a steep rise in mortgage rates in 2014 with interest averaging 7.3% from 2015 through 2017 and median home prices increasing 35% over the next six years in Orange County and nearly 53% in California.
DECEMBER 2012 STATISTICS FOR LAGUNA BEACH:
173 active listings
52 in escrow
38 closed sales from 12/01/12 - 12/31/12
38 Sales for December 2012:
12 sales under $1 million
12 sales $1-2 million
8 sales $2-3 million
2 sales $3-4 million
1 sale $4,460,000
1 sale $6,200,000
1 sale $14,025,000 (auction - oceanfront)
1 sale $17,500,000
*CRMLS, DQNews 1/01/13
----------------------------------------------------------------
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 = 1028 Distressed = 56
In Escrow Listings = 908 Distressed = 383
Sold from 01/01/12 = 4,891 Distressed = 1,304
*Distress sale amounts are decreasing.
*CRCalMLS 1/01/13
---------------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MOVEMBER 2011 COMPARED TO NOVEMBER 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $1,930,000 - 40.9%
Capo Beach - 92624 - 6 - $575,000 - 20.0%
Corona del Mar - 92625 - 14 - $2,145,000 - 26.4%
Costa Mesa - 92626 - 21 - $515,000 - minus 27.8%
Costa Mesa - 92627 - 24 - $660,000 - 50%
Dana Point - 92629 - 29 - $705,000 - 13.3%
Laguna Beach - 92651 - 42 - $1,150,000 - 4.5%
Laguna Niguel - 92677 - 70 - $650,000 - minus 2.6%
Newport Beach - 92660 - 37 - $1,060,000 - minus 4.4%10.1%
Newport Beach - 92661 - 11 - $1,335,000 - minus 6.3%
Newport Beach - 92663- 20 - $1,263,000 - 36.3%
Newport Coast - 92657 - 21 - $2,350,000 - minus 3.19%
San Clemente - 92672 - 32 - $710,000 - 42.9%
San Clemente - 92673 - 29 - $710,000 - 18.3%
*Only 5 zip codes with lower median price year over year. Info DataQuickNews/LATimes/CRMLS 1/01/13
--------------------------------------------------------------------
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!
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