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| Laguna Main Beach |
February sales got a big boost from investors and others paying cash for relatively affordable homes accounting to a five-year high. The big picture is that the bottom of the housing market continues to see much of the action, while move-up activity remains sluggish. Financing is still difficult for many and lots of potential move-up buyers and sellers are stuck because they owe more than their homes are worth.
MORE GOOD NEWS:
OC Register - "Homes are flying off the market. The housing inventory is running on empty. The foreclosure and distressed/short sale inventory is at a low not seen since they started flooding the market back in 2007. The last time demand was this hot was in March 2005, at the tail end of the housing bubble." 3/26/12
LA Times - "U.S. home sales are gradually coming back. The last two months made up the best winter for resale homes in 5 years." 3/22/12
LATimes: "The Great Recession is officially over, but for a huge number of Americans, serious debt lives on." 3/25/12
And so it will continue...as the real estate market rises from the ashes while the economics of the country continue to improve. Let's all remember to save some money this time around!
APRIL STATISTICS FOR LAGUNA BEACH:
243 homes for sale
69 in escrow
27 closed sales from 3/1/12 - 3/31/12
Sales ranges for March 2012:
17 sales under $1 million
7 sales $1-2 million
1 sale for $2,350,000
1 sale for $3,200,000
1 sale for $4,150,000
*SoCalMLS, DQNews 3/31/12
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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 = 1,753 Distressed = 325
In Escrow Listings = 845 Distressed = 508
Sold from 01/01/11 = 222 Distressed = 79
*SoCalMLS 03/31/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MARCH 2011 COMPARED TO MARCH 2012:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $1,800,000 - 33.6%
Capo Beach - 92624 - 5- $623,000 - 9.2%
Corona del Mar - 92625 - 7 - $2,630,000- 107.5%
Costa Mesa - 92626 - 18 - $453,000 - minus 12.1%
Costa Mesa - 92627 -18- $497,000 - minus 1.6%
Dana Point - 92629 - 14 - $584,000 - minus 38.6%
Laguna Beach - 92651 - 31 - $975,000 - 5.4%
Laguna Niguel - 92677 -43 - $580,000 - minus 1.7%
Newport Beach - 92660 - 22 - $1,220,000 - 1.2%
Newport Beach - 92661- 6 - $3,383,000 - 160.2%
Newport Beach - 92663 - 13- $1,350,000 37.8%
Newport Coast - 92657 - 13 - $2,300,000 - 84.7%
San Clemente - 92672 -23 - $525,000 - 4.0%
San Clemente - 92673 - 27 - $672,000 - 0.3%
*Only 4 minus % changes. DataQuickNews 03/31/12
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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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| HortonsInLaguna.com |
