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| Pageant of the Masters: The Genius From July 7 - August 31 |
FIRST
GAIN FOR CALIFORNIA REAL ESTATE PRICES IN 16 MONTHS
The median price for an existing, single-family home in California rose 1.6% in March compared with the year before, marking 2012 the first year-over-year increase in 16 months. Foreclosure activity remains high by historical standards but is lower than peak levels reached over the last few years. Financing with multiple mortgages is very low, and down payment sizes are stable.
Inventory at an unheard of low since 2007. Under 300 properties are listed for sale in Laguna Beach. Sales are increasing with multiple offers not uncommon and some properties selling for over list price. The first quarter of 2012 saw the highest amount of sales since the first quarter of 2006...
90 homes sold in 2012 vs. 83 in 2006.
MORE GOOD NEWS:
NY Times - "THE boom in housing in the middle of the last decade created a huge oversupply of homes in the United States. But now that oversupply appears to be close to vanishing, at least in most parts of the country.” 4/26/12
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." 4/22/12
Inman News: "Pending sales of existing homes rose to their highest level in nearly two years in March." NAR 4/27/12 **This is true in our coastal cities, see statistics below.
LATimes: "Feds urge lenders for shorter times to close short sales on Federally insured loans." 4/29/12
MAY STATISTICS FOR LAGUNA BEACH:
239 homes for sale
76 in escrow
28 closed sales from 4/1/12 - 4/30/12
Sales ranges for May 2012:
13 sales under $1 million
9 sales $1-2 million
3 sales for $2-3million
1 sale for $3,800,000
1 sale for $4,300,000
1 sale for $6,100,000
*SoCalMLS, DQNews 4/30/12
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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 04/30/12
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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 - 2 - $936,000 - minus 37.6%
Capo Beach - 92624 - 7- $445,000 - minus 18.3%
Corona del Mar - 92625 - 18 - $1,770,000- 5.7%
Costa Mesa - 92626 - 25 - $753,000 - minus 18.3%
Costa Mesa - 92627 -35- $543,000 - 2.4%
Dana Point - 92629 - 27 - $663,000 - 1.9%
Laguna Beach - 92651 - 35 - $1,400,000 - 25%
Laguna Niguel - 92677 -63 - $640,000 - 4.9%
Newport Beach - 92660 - 42 - $1,070,000 - minus 24.5%
Newport Beach - 92661- 3 - $2,700,000 - 94.9%
Newport Beach - 92663 - 11- $939,000 minus 54.6%
Newport Coast - 92657 - 15 - $1,890,000 - minus 29%
San Clemente - 92672 -31 - $455,000 - minus 29.5%
San Clemente - 92673 - 40 - $686,000 - minus 4.1%
*DataQuickNews 03/292012
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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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