FEBRUARY 2013 SOUTH ORANGE COUNTY REAL ESTATE

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

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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
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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!

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