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| Pamela and Amanda Sold 15 Homes in Laguna Beach and 20 Total in the First Half of 2013 |
"FIRST HALF OF 2013 HOME PRICES AND SALES INCREASED AT A RAPID
PACE"
Existing home sales rose by 6.5% in July from June and are up 17.2% since this time last year. Home prices rose 7.7% from May to June. Sales so far in 2013 have surged by a 12% gain not seen since March 2006 when the market started the downward spiral of due to loan defaults. Average home prices across the 20 cities have now reached their spring 2004 level as demand outpaced supply.
Current Market: Now increased inventory is coming on the market as sellers realize it is a good time to sell. Interest rates are rising slightly. Along with the difficulty of obtaining a loan many buyers are taking a step back and assessing their situation.
Lease Market: With home buying demand outpacing supply and rising prices buyers are turning to leasing. Some think it's a good idea to sit back and wait for the buying frenzy to end. Rental rates have stayed stable with inventory sizeable.
*Source LATimes, DQNews 8/29//13
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AUGUST STATISTICS FOR LAGUNA BEACH:
243 active listings
59 in escrow
32 closed sales from 8/01/13 - 8/31/13
32 Sales for August 2013:
5 sales under $1 million
13 sales $1-2 million
4 sales $2-3 million
5 sales 3-4 million
1 sale $4,300,000
2 sales $7-8 million
1 sale $10,500,000
1 sale $12,500,000
*Source CRMLS 8/31/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JULY 2012 COMPARED TO JULY 2013:
Balboa Island - 92662 - 2 - $1,490,000 - 6.8%
Capo Beach - 92624 - 15 - $954,000 - 32.1%
Corona del Mar - 92625 - 29 - $2,267,000 - 29.5%
Costa Mesa - 92626 - 45- $600,000 - 23.1%
Costa Mesa - 92627 - 49 - $748,000 - 22.1%
Dana Point - 92629 - 38 - $910,000 - 30%
Laguna Beach - 92651 - 41 - $1,863,000 - 35.5%
Laguna Niguel - 92677 - 86 - $812,000 - 26.9%
Newport Beach - 92660 - 55 - $1,550,000 - 24.8%
Existing home sales rose by 6.5% in July from June and are up 17.2% since this time last year. Home prices rose 7.7% from May to June. Sales so far in 2013 have surged by a 12% gain not seen since March 2006 when the market started the downward spiral of due to loan defaults. Average home prices across the 20 cities have now reached their spring 2004 level as demand outpaced supply.
Current Market: Now increased inventory is coming on the market as sellers realize it is a good time to sell. Interest rates are rising slightly. Along with the difficulty of obtaining a loan many buyers are taking a step back and assessing their situation.
Lease Market: With home buying demand outpacing supply and rising prices buyers are turning to leasing. Some think it's a good idea to sit back and wait for the buying frenzy to end. Rental rates have stayed stable with inventory sizeable.
*Source LATimes, DQNews 8/29//13
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AUGUST STATISTICS FOR LAGUNA BEACH:
243 active listings
59 in escrow
32 closed sales from 8/01/13 - 8/31/13
32 Sales for August 2013:
5 sales under $1 million
13 sales $1-2 million
4 sales $2-3 million
5 sales 3-4 million
1 sale $4,300,000
2 sales $7-8 million
1 sale $10,500,000
1 sale $12,500,000
*Source CRMLS 8/31/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JULY 2012 COMPARED TO JULY 2013:
Balboa Island - 92662 - 2 - $1,490,000 - 6.8%
Capo Beach - 92624 - 15 - $954,000 - 32.1%
Corona del Mar - 92625 - 29 - $2,267,000 - 29.5%
Costa Mesa - 92626 - 45- $600,000 - 23.1%
Costa Mesa - 92627 - 49 - $748,000 - 22.1%
Dana Point - 92629 - 38 - $910,000 - 30%
Laguna Beach - 92651 - 41 - $1,863,000 - 35.5%
Laguna Niguel - 92677 - 86 - $812,000 - 26.9%
Newport Beach - 92660 - 55 - $1,550,000 - 24.8%
