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| Listed and In Escrow by Pamela and Amanda Panoramic Ocean Views, Magnificent Laguna Beach Home www.31293Ceanothus.com |
In February 2015 the number of homes sold in Southern
California rose slightly from January but hit the
lowest level for a February in seven years. The median price paid for a home
inched up from January and rose year over year for the 35th consecutive month. Home prices found
a floor in 2012 and since then have rapidly appreciated.
Sales:
Southern California home sales have increased 0.7% between the months of
January and February since 1988. The amount of sales have fallen on a
year-over-year basis in 15 out of the last 17 months.
Mortgage Rates:
Fell this week with lenders offering a 30-year fixed loan at an average of
3.69%. 15-year fixed mortgage fell to 2.9% from 3.06% last week. 5-year loans dropped to 2.92% Low rates could spur more
home sales during the Spring buying season. It’s too early to tell if cheaper
borrowing costs and recent robust job growth will ignite the housing market
that slowed in the last year.
Who
Are The Buyers? Buyers attracted
recently are institutional investors, international buyers or some other flavor
of cash buyer not constrained by income as much as traditional buyers. Eventually
traditional buyers will need to play a bigger role in the housing market for
the recovery to maintain its momentum.
Sellers: The low inventory makes this Spring an
incredible to sell and move on with your dream. Call Pamela and Amanda for selling your home!
*Sources CoreLogic, CAR 2/25/15
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MARCH 2015 SALES STATISTICS FOR
LAGUNA BEACH:
203 Active listings
70 In Escrow
41 Closed Sales 3/1/2015 – 3/31/2015
Sales for March 2015:
4 sales under $1 million
20 sales $1-2 million
9 sales $2-3 million
6 sales $3-4 million203 Active listings
70 In Escrow
41 Closed Sales 3/1/2015 – 3/31/2015
Sales for March 2015:
4 sales under $1 million
20 sales $1-2 million
9 sales $2-3 million
1 sale for $4,050,000
1 sale for $10,500,000
*Source CRMLS 3/31/15
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR FEBRUARY 2015 COMPARED TO FEBRUARY 2014:
Balboa Island - 92662 - 1 - $2,595,000: +29.8%
Capistrano Beach - 92624 - 4 - $1,925,000: +200.8%
Corona del Mar - 92625 - 14 - $1,719,000: -4.1%
Costa Mesa - 92626 - 22- $618,000: +25.5%
Costa Mesa - 92627 - 15 - $785,000: +58.6%
Dana Point - 92629 - 21- $692,000: +0.8%
Laguna Beach - 92651 - 24 - $1,854,000: -0.6%
Laguna Niguel - 92677 - 48 - $850,000: +9.0%
Newport Beach - 92660 - 18 - $1,650,000: +6.7%
Newport Beach – 92661 – 5 - $2,800,000: +12%
Newport Beach – 92663 – 15 - $1,615,000: +15.4%
Newport Coast – 92657 – 12 - $2,845,000 +19.8%
San Clemente – 92672 – 23 - $720,000: -4.6%
San Clemente – 92673 – 22 - $785,000: +2.6%
*Source DQNews/LATimes 3/25/15
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