APRIL 2015 COASTAL ORANGE COUNTY REAL ESTATE NEWS

Listed and In Escrow by Pamela and Amanda
Panoramic Ocean Views, Magnificent Laguna Beach Home
www.31293Ceanothus.com

Southern California Home Sales Dip Year Over Year Again; Median Prices Increase 

In February 2015 the number of homes sold in Southern California rose slightly from January but hit the lowest level for a February in seven years. The median price paid for a home inched up from January and rose year over year for the 35th consecutive month. Home prices found a floor in 2012 and since then have rapidly appreciated.

Sales: Southern California home sales have increased 0.7% between the months of January and February since 1988. The amount of sales have fallen on a year-over-year basis in 15 out of the last 17 months.

Mortgage Rates: Fell this week with lenders offering a 30-year fixed loan at an average of 3.69%. 15-year fixed mortgage fell to 2.9% from 3.06% last week. 5-year loans dropped to 2.92% Low rates could spur more home sales during the Spring buying season. It’s too early to tell if cheaper borrowing costs and recent robust job growth will ignite the housing market that slowed in the last year.

Who Are The Buyers? Buyers attracted recently are institutional investors, international buyers or some other flavor of cash buyer not constrained by income as much as traditional buyers. Eventually traditional buyers will need to play a bigger role in the housing market for the recovery to maintain its momentum.

Sellers: The low inventory makes this Spring an incredible to sell and move on with your dream. Call  Pamela and Amanda for selling your home!

Buyers: This is a great time to buy, interest rates are still at an all-time low so now your dream is more affordable than ever. For homes available in the location where you'd like to buy, contact Pamela and Amanda!

*Sources CoreLogic, CAR 2/25/15

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MARCH 2015 SALES STATISTICS FOR LAGUNA BEACH:

 203 Active listings
 70 In Escrow
 41 Closed Sales 3/1/2015 – 3/31/2015

Sales for March 2015:
4 sales under $1 million
20 sales $1-2 million
9 sales $2-3 million

6 sales $3-4 million
1 sale for $4,050,000
1 sale for $10,500,000

 *Source CRMLS 3/31/15
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR FEBRUARY 2015 COMPARED TO FEBRUARY 2014:

Balboa Island - 92662 - 1 - $2,595,000: +29.8%
Capistrano Beach - 92624 - 4 - $1,925,000: +200.8%
Corona del Mar - 92625 - 14 - $1,719,000: -4.1%
Costa Mesa - 92626 - 22- $618,000: +25.5%
Costa Mesa - 92627 - 15 - $785,000: +58.6%
Dana Point - 92629 - 21- $692,000: +0.8%
Laguna Beach - 92651 - 24 - $1,854,000: -0.6%
Laguna Niguel - 92677 - 48 - $850,000: +9.0%
Newport Beach - 92660 - 18 - $1,650,000: +6.7%
Newport Beach – 92661 – 5 - $2,800,000: +12%
Newport Beach – 92663 – 15 - $1,615,000: +15.4%
Newport Coast – 92657 – 12 - $2,845,000 +19.8%
San Clemente – 92672 – 23 - $720,000: -4.6%
San Clemente – 92673 – 22 - $785,000: +2.6%

*Source DQNews/LATimes 3/25/15

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

Laguna Coastline
Scott Brashier



HOME SALE PRICES CLIMB, SALES DECLINE DUE TO LOW INVENTORY
The median price paid for a SoCal rose again in September to a more-than-four-year high yet with inventory low, the amount of sales dropped. For the first time in nine months sales declined compared with a year earlier as low-end home deals have sold and foreclosure resales hit a nearly five-year low.

The median sale price has risen mainly for two reasons.
1. Higher demand, triggered largely by ultra-low mortgage rates.
2. There is now a dwindling supply of homes for sale with the mid- to high-end move-up properties picking up more sales.

In September, price levels for the lowest-cost 1/3 of housing stock rose 13.2%, while they rose 7.7% in the middle range and 3.5% in the top third.

OCTOBER STATISTICS FOR LAGUNA BEACH:
183 homes for sale
63 in escrow
40 closed sales from 10/01/12 - 10/31/12

40 Sales for October 2012:
12 sales under $1 million
17 sales $1-2 million
5 sales $2-3 million
3 sales $3-4 million
2 sales $6-7 million

*Higher price ranges moving up in sale amounts as low end homes drop off due to lack of inventory.
*SoCalMLS, DQNews 11/01/12
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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 = 1139 Distressed = 68
In Escrow Listings = 986 Distressed = 416
Sold from 01/01/12 = 4,421 Distressed = 1,208

*Distress sale amounts are decreasing.
*SoCalMLS 11/01/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR SEPTEMBER 2011 COMPARED TO SEPTEMBER 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $2,395,000 - 6.4%
Capo Beach - 92624 - 13 - $560,000 - 12.4%
Corona del Mar - 92625 - 21 - $1,330,000 - minus 19.9%
Costa Mesa - 92626 - 24 - $502,000 - 4.3%
Costa Mesa - 92627 - 20 - $500,000 - 1.2%
Dana Point - 92629 - 22 - $717,000 - 12.5%
Laguna Beach - 92651 - 35 - $1,325,000 - 10.4%
Laguna Niguel - 92677 - 44 - $698,000 - 8.7%
Newport Beach - 92660 - 37 - $1,310,000 - 14.4%
Newport Beach - 92661 - 6 - $2,115,000 - minus 29.2%
Newport Beach - 92663- 16 - $2,108,000 - 84.5%
Newport Coast - 92657 - 15 - $1,690,000 - 45.2%
San Clemente - 92672 - 27 - $700,000 - 41.7%
San Clemente - 92673 - 38 - $668,000 - minus 8.7%

*DataQuickNews 11/01/2012
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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!

 

 

 

HortonsInLaguna.com



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

Laguna Sunset
Photo by Scott Brashier



SHRINKING INVENTORY UPENDS HOME MARKET

Many home shoppers assume they are still in a buyers' market find that reality is inventory is shrinking. The supply of homes for sale has fallen. This is having an important side effect by raising prices.

WHAT BUYERS ARE DOING:
Finding themselves often a multiple offer situation buyers are inserting price escalation clauses in their counter offers. Often they are waiving financing contingencies, home inspections and agreeing to raise their down payment.

BEHIND THE INVENTORY DECLINE:
Negative equity plays a large role. Sellers don't want to take a big loss in a slowly improving price environment. So they sit tight rather than list.

WHAT LENDERS ARE DOING: Banks with large stocks of pre-foreclosure and foreclosed properties are doing the same, holding homes off the market. This is creating a "shadow inventory" of estimated 1.5 million unsold homes.

JULY STATISTICS FOR LAGUNA BEACH:
222 homes for sale
77 in escrow
40 closed sales from 7/1/12 - 7/31/12

40 Sale Ranges for July 2012:
13 sales under $1 million
12 sales $1-2 million*
8 sales $2-3 million
2 sales $3-4 million
2 sales $6-7 million
2 sales $8-9 million
1 sale for $16,000,000

*$2-3M range picks up more sales.
*SoCalMLS, DQNews 7/31/12
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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 = 1,491 Distressed = 108
In Escrow Listings = 1,090 Distressed = 493
Sold from 01/01/12 = 2,977 Distressed = 880

*SoCalMLS 07/31/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JUNE 2011 COMPARED TO JUNE 2012:

City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $2,585,000 - minus 41.3%
Capo Beach - 92624 - 11 - $625,000 - 5.4%
Corona del Mar - 92625 - 24 - $1,675,000 minus 11.7%
Costa Mesa - 92626 - 31 - $520,000 - 10.1%
Costa Mesa - 92627 - 22 - $540,000 - 8.0%
Dana Point - 92629 - 27 - $746,000 - 10.8%
Laguna Beach - 92651 - 43 - $1,400,000 - 3.7%
Laguna Niguel - 92677 - 62 - $608,000 - minus 9.9%
Newport Beach - 92660 - 54 - $1,300,000 - 13.0%
Newport Beach - 92661- 3 - $1,600,000 - minus 51.6%
Newport Beach - 92663 - 27 - $1,143,000 - minus 12.1%
Newport Coast - 92657 - 20 - $1,839,000 - minus 37.2%
San Clemente - 92672 -44 - $595,000 - 6.7%
San Clemente - 92673 - 43 - $700,000 - 2.9%

*DataQuickNews 07/31/2012
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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!

Scan QR code or click link to search for properties for sale.

www.HortonsInLaguna.com

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

Oak Street Surf, Laguna Beach, CA

COASTAL HOME SALES LEADING THE MARKET TO RECOVERY

Coastal property sales lead the housing market in its continued long, step-by-tiny-step trek back toward normalcy in May. The median sale prices rose year-over-year for the second consecutive month for a 20-month high.


Home sales increased across the region but the gains were highest in coastal areas where move-up markets have picked up steam.


Loans: Credit remains tight with loan terms very stringent. The share of purchase loans that are in the "jumbo" category (over $417,000) edged higher as adjustable rate loans lowered. Investor and cash-only home purchases remain near record levels.


More Good News:
ORANGE COUNTY REGISTER 6/17/2012 Jonathan Lansner


"SELLERS RAISE PRICES AT TOP END OF LOCAL MARKET" With a tight supply of homes for sale and shoppers actually buying - we were bound to see hints that prices could be rebounding too. Curiously, we're seeing the strength most at the upper end of the market. O.C. sellers of higher-end homes are raising prices to levels not seen in 20 months.


"RENTS HIT 3-YEAR HIGH" O.C. rentals increase an average of $72.00 or 4.7% after 5 straight quarterly raises. Prior inventory shows  94.8% of vacancies have been filled.


JUNE STATISTICS FOR LAGUNA BEACH: 236 homes for sale
72 in escrow
40 closed sales from 6/1/12 - 6/30/12


Sales ranges for June 2012:
14 sales under $1 million
19 sales $1-2 million*
2 sales $2-3 million
2 sales $3-4 million
2 sales $4-5 million
1 sale for $8,100,000


*$1-2M range outsells under $1M for 2nd month.
*SoCalMLS, DQNews 6/30/12
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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 = 1,547 Distressed = 138
In Escrow Listings = 1,090 Distressed = 510
Sold from 01/01/11 = 2505 Distressed = 769

*SoCalMLS 06/30/12
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MAY 2011 COMPARED TO MAY 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 4 - $1,813,000 - minus 51.6%
Capo Beach - 92624 - 5- $485,000 - minus 22.7%
Corona del Mar - 92625 - 16 - $1,558,000 minus 19.1%
Costa Mesa - 92626 - 32 - $469,000 - minus 8.1%
Costa Mesa - 92627 -29- $485,000 - 10.4%
Dana Point - 92629 - 23 - $715,000 - 17.2%
Laguna Beach - 92651 - 38 - $1,398,000 - 27.1%
Laguna Niguel - 92677 - 56 - $553,000 - minus 16.8%
Newport Beach - 92660 - 49 - $1,260,000 - 6.1%
Newport Beach - 92661- 4 - $3,613,000 - 157.6%
Newport Beach - 92663 - 14- $1,480,000 - minus 12.7%
Newport Coast - 92657 - 15 - $1,899,000 - minus 12%
San Clemente - 92672 -41 - $635,000 -8.7%
San Clemente - 92673 - 51 - $712,000 - 1.6%

*SoCalMLS 06/30/12

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