NOVEMBER 2014 COASTAL SOUTH ORANGE COUNTY REAL ESTATE NEWS

                                                                           

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CALIFORNIA HOME SALES TO INCREASE SLIGHTLY, WHILE HOME PRICES POST SLOWEST GAIN IN FOUR YEARS

With the U.S. economy expected to grow more robustly than it has in the past five years
and housing inventory continuing to improve, California housing sales and prices will see
a modest upward trend in 2015.

Housing Forecast: With more available homes on the market for sale, California’s housing
market will see fewer investors and a return to traditional home buyers as home sales rise
modestly and prices flatten out in 2015. Expected is an increase in existing home sales of
5.8%. Sales in 2014 will be down 8.2% from single-family homes sold in 2013.

Interest Rates: Minimal impact is expected with interest rates only inching up slightly and remaining low throughout 2015. This should help moderate the decline in housing affordability that occurred over the past two years.

Lending Guidelines: Stringent underwriting guidelines and double-digit home price increases over the past two years have significantly impacted housing affordability in California, forcing some buyers to delay their home purchase. However, next year, home price gains will slow, allowing would-be buyers who have been saving for a down payment to be in a better financial position to make a home purchase.”

Down Payment Amount: Buyers should know that it's a misperception that a 20% down payment is always required to buy a home. There are numerous programs available that allow consumers to buy a home with less down payment, including FHA loans, which lets buyers put down as little as 3.5 percent.

*10/07/14 CAR


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OCTOBER 2014 SALES STATISTICS FOR LAGUNA BEACH

218 active listings
50 In escrow
Closed Sales 41 from 10/01/14 - 10/31/14

41 Sales for October 2014:
6 sales under $1 million
19 sales $1-2 million
8 sales $2-3 million
1 sale $3,070,000
3 sales $4-5 million
1 sale $5,820,000
1 sale $6,386,250
1 sale $7,600,000
1 sale $10,000,000

*CRMLS 10/31/14

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COASTAL ZIP CODES BY MEDIAN SALE PRICE FOR SEPTEMBER 2014 COMPARED TO SEPTEMBER 2013

Balboa Island - 92662 - 1 - $2,650,000 – 32.5%

Capistrano Beach - 92624 - 5 - $1,699,000 – 149.9%

Corona del Mar - 92625 - 18 - $1,773,000 – minus 22.8%

Costa Mesa - 92626 - 26- $646,000 – 3.4%

Costa Mesa - 92627 - 26 - $738,000 – 18%

Dana Point - 92629 - 34 - $850,000 – minus 6.6%

Laguna Beach - 92651 - 42 - $2,015,000 – 20.8%

Laguna Niguel - 92677 - 68 - $825,000 – 9.3%

Newport Beach - 92660 - 30 - $1,460,000 – minus 10.8%

Newport Beach – 92661 – 3 - $1,925,000 – minus 33.1%

Newport Beach – 92663 – 15 - $2,165,000 – minus 1.6%

Newport Coast – 92657 – 12 - $4,450,000 – 52.8%

San Clemente – 92672 – 38 - $753,000 – minus 5.3%

San Clemente – 92673 – 36 - $820,000 – minus 10.9%

*Median price for Capistrano Beach over $1M for first time and half of the cities posting minus median prices.
**Source DQNews/LATimes 10/26/14

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