MAY 2013 SOUTH ORANGE COUNTY REAL ESTATE

Crescent Bay Breaking

Grace-E-Photography – Age 14

 

SOUTHLAND MEDIAN HOME SALE PRICE CLIMBS AGAIN

 

The median price paid for a Southern California home hit a 56-month high in March, rising 23.4 percent from a year earlier as the impact of foreclosures continued to fade and sales of mid- to high-end homes shot up. Total sales were the highest in six years for a March despite a sharp drop in sub-$300,000 deals, a real estate information service reported.

CASH SALES: A record number of CA homes bought with cash. It's clear that a lot of today's housing market recovery is being fueled by people putting their own money into homes. Some cash buying is part of a normal housing market, but we're at twice that normal rate. There are always some rich people, also buyers from abroad, but in a normal market the biggest single category would be retirees and empty-nesters who are down-sizing. Today, a lot of buyers are chasing what they view as the deal of a lifetime.

 

 

MILLION DALLAR HOME SALES: The number of homes CA for a million dollars or more rose to its highest level since 2007, fueled by a recovering economy, rising home prices and a record number of cash purchases. The number of homes sold for more than $5 million rose to an all-time high.

 

MORTGAGE RATES: Rates fall for the 3rd week.
According to Freddie Mac, the average rate for a 30-year fixed rate mortgage fell by two basis points to 3.41 percent as compared to last week's 3.43 percent and 3.90 percent year-over-year.

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APRIL STATISTICS FOR LAGUNA BEACH:

196 active listings
74 in escrow
35 closed sales from 4/01/13 - 4/31/13

36 Sales for April 2013:
7 sales under $1 million
16 sales $1-2 million
sales $2-3 million
1 sales $3-4 million
2 sales $4-5 million
2 sales $6-7 million
1 sale $10,750,000

*CRMLS/CAR 4/30/13 -----------------------------------------------------------------------------------------------------------------

COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MARCH 2012 COMPARED TO MARCH 2013:

Balboa Island - 92662 - 3 - $1,720,000 - minus 83.7%
Capo Beach - 92624 - 9 - $500,000 - 12.4%
Corona del Mar - 92625 - 26 - $2,100,000 - 18.6%
Costa Mesa - 92626 - 31- $560,000 - 16.2%
Costa Mesa - 92627 - 43 - $665,000 - 24.6%
Dana Point - 92629 - 28 - $715,000 - 7.9%
Laguna Beach - 92651 - 35 - $1,400,000 - 0%
Laguna Niguel - 92677 - 50 - $720,000 - 21.5%
Newport Beach - 92660 - 47 - $1,300,000 - 21.5%
Newport Beach - 92661 - 2 - $1,708,000 - 65.1%
Newport Beach - 92663- 18 - $1,550,000 - 2.6%
Newport Coast - 92657 - 22 - $2,998,000 - 58.6%
San Clemente - 92672 - 38 - $660,000 - 41.8%
San Clemente - 92673 - 41 - $778,000 - 13.3%

*Only one zip code with minus %, this is the first time since 2006.

DQNews/LATimes 4/30/13

 

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