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| Holidays in Laguna Beach Include Many Exciting Events for All! |
"Distress Sales Decline As Home Prices Remain
Stable"
Indicators of
market distress continue to decline. Foreclosure activity remains well below a year-ago
and far below peak levels. Financing with multiple mortgages is very low, and
down payment sizes are stable. Jumbo loans, mortgages above the old conforming limit
of $417,000, accounted for 26.3% of sales.
MEDIAN SALE PRICES: Southern
California home buying picked up in October compared with September but fell
short of a year earlier as sales in inventory-starved markets and lower-cost
markets continued to lag far behind 2012 levels. For the fourth month in a row
the region’s median sale price more or less moved sideways, though it was still
nearly 22% higher than October 2012.
SALES PRICE INCREASES: It
appears that almost all of last month’s price increases reflects rising home
prices, while a small portion reflects a change in the price range of homes
that sold. Last year there was a large increase in mid- to high-end sales and a
big decline in sales of lower-cost distressed properties.
ABSENTEE AND INVESTOR BUYER SALES DOWN: Mostly investors and some second-home purchasers bought 26.5%
of the Southland homes sold last month, which is the lowest share for any month
since it was 25.1% in November 2011.
"FLIPPING HOMES" INCREASES: 6.5% of homes
sold on the open market had previously sold in the prior six months. That’s up
from a flipping rate of 6.1% in September and up from 6.0% in October 2012.
Flipping peaked at 7.0% February this year and had trended lower most months
this year until September. (The figures exclude homes resold after being
purchased at public foreclosure auction sales on the courthouse steps).
Source LATimes, DQNews 11/30/13
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NOVEMBER 2013 STATISTICS FOR LAGUNA BEACH:
207 active listings
45 in escrow
28 closed sales from 11/01/13 - 11/30/13
28 Sales for November 2013:
3 sales under $1 million
11 sales $1-2 million
10 sales $2-3 million
1 sale $3,075,000
1 sale $4,010,000
NOVEMBER 2013 STATISTICS FOR LAGUNA BEACH:
207 active listings
45 in escrow
28 closed sales from 11/01/13 - 11/30/13
28 Sales for November 2013:
3 sales under $1 million
11 sales $1-2 million
10 sales $2-3 million
1 sale $3,075,000
1 sale $4,010,000
1 sale $5.285,000
1 sale $6,750,000
*Source CRMLS 11/30/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR OCTOBER 2012 COMPARED TO OCTOBER 2013:
Balboa Island - 92662 - 3 - $2,263,000 – 89.1%
Capo Beach - 92624 - 8 - $790,000 – 16.3%
Corona del Mar - 92625 - 16 - $1,761,000 – 22.1%
Costa Mesa - 92626 - 19- $629,000 – 25.2%
Costa Mesa - 92627 - 33 - $788,000 – 46.622.1%
Dana Point - 92629 - 25 - $910,000 – 25.1%
Laguna Beach - 92651 - 32 - $1,425,000 – 29.5%
Laguna Niguel - 92677 - 53 - $835,000 - 28%
Newport Beach - 92660 - 24 - $1,544,000 – 42.9%
Newport Beach – 92661 – 2 - $1,638,000 – 17%
1 sale $6,750,000
*Source CRMLS 11/30/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR OCTOBER 2012 COMPARED TO OCTOBER 2013:
Balboa Island - 92662 - 3 - $2,263,000 – 89.1%
Capo Beach - 92624 - 8 - $790,000 – 16.3%
Corona del Mar - 92625 - 16 - $1,761,000 – 22.1%
Costa Mesa - 92626 - 19- $629,000 – 25.2%
Costa Mesa - 92627 - 33 - $788,000 – 46.622.1%
Dana Point - 92629 - 25 - $910,000 – 25.1%
Laguna Beach - 92651 - 32 - $1,425,000 – 29.5%
Laguna Niguel - 92677 - 53 - $835,000 - 28%
Newport Beach - 92660 - 24 - $1,544,000 – 42.9%
Newport Beach – 92661 – 2 - $1,638,000 – 17%
Newport Beach – 92663 – 16 - $1,450,000 – minus 18.3%
Newport Coast – 92657 – 16 - $2,400,000 – minus 23.1%
San Clemente – 92672 – 23 - $700,000 – 12%
San Clemente – 92673 – 28 - $777,000 – 10.6%
*Source DQNews/LATimes 11/30/13
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