OCTOBER 2012 SOUTH ORANGE COUNTY REAL ESTATE MARKET CONDITIONS ORANGE COUNTY CA

Laguna Hotel Car Art - Ken Erickson

SOUTHLAND HOME SALES HIT 6-YEAR HIGH; MEDIAN EDGES HIGHER

Southern California home sales rose to the highest level for the month of August in six years, fueled by low mortgage rates, a healthier move-up market and near-record levels of investor and cash buying. The median price paid for a home rose to a four-year high, lifted partly by the ongoing shift toward fewer foreclosure resales and more mid- to high-end deals,

August was the strongest month for home sales so far this year, and the strongest for an August in six years. That's really saying something given the drop in low-end sales, especially foreclosure resales. Much of the pickup in activity reflects a continuation of trends we've seen for months, like the unleashing of pent-up demand in move-up markets and high levels of cash and investor buying.

SEPTEMBER STATISTICS FOR LAGUNA BEACH:
186 homes for sale
74 in escrow
29 closed sales from 9/1/12 - 9/30/12

29 Sales for September 2012:
7 sales under $1 million
12 sales $1-2 million
5 sales $2-3 million
1 sale for $3,175,000
2 sales $4-5 million
1 sale for $6,625,000
1 sale for $20.000.000

*Higher price ranges starting to sell more.
*SoCalMLS, DQNews 10/03/12
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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 = 1,234 Distressed = 75
In Escrow Listings = 1,039 Distressed = 439
Sold from 01/01/12 = 4,001 Distressed = 1123

*Distress sales are lowering
*SoCalMLS 10/03/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR AUGUST 2011 COMPARED TO AUGUST 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - N/A - N/A - N/A
Capo Beach - 92624 - 87 - $598,000 - 3.9%
Corona del Mar - 92625 - 20 - $1,605,000 - minus 7%
Costa Mesa - 92626 - 34 - $510,000 - 6.5%
Costa Mesa - 92627 - 27 - $540,000 - 19.6%
Dana Point - 92629 - 31 - $700,000 - 20%
Laguna Beach - 92651 - 37 - $1,500,000 - 46.7%
Laguna Niguel - 92677 - 74 - $660,000 - 48.7%
Newport Beach - 92660 - 54 - $1,276,000 - 2.1%
Newport Beach - 92661 - 5 - $1,575,000 - minus 12.5%
Newport Beach - 92661- 19 - $2,017,000 - 56.7%
Newport Coast - 92657 - 23 - $2,700,000 - 54.8%
San Clemente - 92672 - 35 - $725,000 - 24.5%
San Clemente - 92673 - 32 - $700,000 - 4.5%

*DataQuickNews 10/03/2012
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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!

Visit HortonsInLaguna.com

 

AUGUST 2011 COASTAL REAL ESTATE NEWS FOR ORANGE COUNTY CA

                                                                           
SOUTHLAND HOME SALES INCREASE, MEDIAN PRICES HIGHEST THIS YEAR

SoCal home sales last month shot up more than usual from May to the highest level for any month since June 2010, when the market got its last big boost from homebuyer tax credits. Sales of lower-cost homes, driven by investors and first-time buyers, and even high-end sales continued to outshine traditional move-up activity in middle price ranges.

JUNE SALES: On average 6.2% since 1988. June sales have varied from a low of 18,032 in 2008 to a high of 40,156 in 2005. Among all months, June has had the highest number of sales most often - in eight of the past 23 years.

THE MARKET: Remains dysfunctional and lopsided, just somewhat less so than it was a few months or a year ago. The market mix indicates that a lot of potential buyers are either stuck, for lack of equity, or spooked and are waiting things out.

LOANS: Another large, lingering problem is the fussy mortgage market. Qualifying for a mortgage remains difficult for many, and the use of adjustable-rate and "jumbo" home purchase loans remains far below the historical norm.

LAGUNA BEACH MARKET: For July 2011 currently there are 342 homes for sale, 57 in escrow and 28 closed sales.

Sellers remember pricing of homes is important, but equally import is not 'holding out' for a certain price, you do not have this option in a buyers' market. Let your experienced, professional realtor negotiate the best price possible and accept this as the best you can obtain at this time. If you sell your property this year you are one of the lucky sellers!

*Information sources: DataQuick 7/31/11
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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS FOR 2011 FROM 01/01/11:

Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente

Active Listings = 2,560 w/Bank Conditions = 434
In Escrow Listings = 832 w/Bank Conditions = 478
Sold from 01/01/11 = 2,476 w/Bank Conditions = 855

*SoCalMLS 07/31/11
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JUNE 2011 COMPARED TO JUNE 2011:

City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 2 - $4,400,000 - minus 20.2%
Capo Beach - 92624 - 5- $593,000 - 0.7%
Corona del Mar - 92625 - 14 - $1,897,000- 11.6%
Costa Mesa - 92626 - 24 - $485,000 - minus 8.9%

Costa Mesa - 92627 -33- $505,000 - minus 10.9%
Dana Point - 92629 - 33 - $673,000 - minus 12%
Laguna Beach - 92651 - 28 - $1,350,000 - 4.9%
Laguna Niguel - 92677 -55 - $675,000 - 2%
Newport Beach - 92660 - 36 - $1,150,000 - 3.6%
Newport Beach - 92661- 5 - $3,308,000 - 16.1%
Newport Beach - 92663 - 7 - $1,450,000 - 11.5%
Newport Coast - 92657 - 12 - $2,929,000 - 93%
San Clemente - 92672 - 24- $597,000 - 2.8%
San Clemente - 92673 - 34 - $681,000 - minus 10.6%

*Not as many minus % compared to last year's average sale prices. DataQuickNews 07/31/2011
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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!

Scan QR Code To Visit Hortons In Laguna Website