DECEMBER 2015 COASTAL ORANGE COUNTY REAL ESTATE NEWS

Wishing You and Your Family a Wonderful Holiday Season!



Pending Home Sales Bounce Back in October

Pending home sales bounced back from the previous month at the statewide level in October. Pending sales were also significantly higher on an annual basis, portending higher closed escrows in the next couple of months. Home sales exceeded the 400,000 level in October for the seventh consecutive month and posted higher on a year-to-year basis for the ninth straight month.

Mortgage Information:

30 year fixed mortgage rate is currently 3.95%, down slightly versus one week ago.
15 year fixed rate is 3.18%, unchanged versus one week ago.  
ARM’s represent 14.8% of all mortgages, down from 19.5% versus last year, with the 10 year ARM being the hot lender product of choice.
Nationwide, 10.1% of mortgage homes are underwater, in OC there are only 3%.
A December Rate hike seems very likely.

*CAR 12/06/15

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NOVEMBER 2015 SALES STATISTICS FOR LAGUNA BEACH:

198 Active Listings

 52 Pending Sales
 22 Closed Sales from 11/01/15 - 11/30/15

22 Sales for November 2015:

 

198 Active Listings

 52 Pending Sales
 22 Closed Sales from 11/01/15 - 11/30/15

Sales Statistics:

 2 - Less than $1,000,000
 7 - $1,000,001 - $1,500,000
 2 - $1,500,001 - $2,000,000
 2 - $2,000,001 - $2,500,000

 2 - $2,500,001 - $3,000,000

 3 - $3,000,001 - $3,500,000

 0 - $3,500,001 - $4,000,000

 4 – $4,000,000 +

 

22 homes sold in November makes this is the lowest total number of sales for a single month in almost two years.  The longer time it can take for new loan may have had some impact on these numbers as there are still have 52 Pending Sales, about the same as the previous month.  Inventory dropped below 200 for the first time since February, but normal for this time of the year. 

 *Source CRMLS 10/31/15

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DECEMBER 2013 SOUTH ORANGE COUNTY REAL ESTATE NEWS

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

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%

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%

 
*Most zip codes have lower median prices than prior month due to decreases in inventory.

*Source DQNews/LATimes 11/30/13

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