AUGUST 2015 COASTAL ORANGE COUNTY REAL ESTATE NEWS

 

Newly  Listed: Ocean View Home in Mystic Hills area of Laguna Beach
Click to view 1527 Tahiti Ave, Laguna Beach

California Home Sales At Highest Level in 2 years, First Double-digit Increase since May 2012

Sales of existing, single-family homes in June reached the highest level in two years and experienced the first double-digit increase since May 2012. Home sales in the state have risen year over year for five straight months.

The June sales increased 3.3% from May and 11% compared with home sales in June 2014. The year-to-year change is significantly higher than the previous 6-month average increase of 4.3% from December 2014-May 2015.

Other key points for the OC coastal housing report include:

·        Active Listings Decline: While sales continued to improve from last year the number of active listings dipped 0.8% from the previous year. The June Unsold Inventory Index declined to 3.3 months in June, down from 3.5 months in May and 3.8 months in June 2014. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered typical in a normal market.

·        Median Number of Days on Market: Days to sell a single-family home rose slightly in June to 33.3 days compared with 28.5 days in May but was down from 33.8 days in June 2014.

·        Sales-to-list price Ratio: Properties are generally selling below the list price, except in the San Francisco Bay Area, where a lack of homes for sale is pushing sales prices higher than original asking prices to an average of 106.3% up from 104% a year ago.

·        Trends:  
 Home ownership at its lowest point in 19 years (64.8%)
 Highest price increase Newport Coast, 92657, +137.9%
 2nd Highest, Newport Beach, 92662, +61.1%

        3rd Highest, VillaPark,92861, 57.9%                                                                                                 

       

·        Mortgage Interest Rates Increased in June. Current market rates are:  

       30 year fixed Mortgage rate is currently 4.09%, up slightly versus one week ago,
15 year fixed rate is 3.25%, up slightly versus one week ago,
ARM’s represent 15.4% of all mortgages, down from 19.6% versus last year, this is the loan of choice

*CAR 7/15/15 - FANNIE MAE 7/31/15
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JULY 2015 SALES STATISTICS FOR LAGUNA BEACH:

222 Active Listings
69 In Escrow
42 Closed Sales from 7/01/15 - 7/31/15

42 Sales for July 2015:
  4 sales under $1 million
16 sales $1-2 million

*June had 27 closed sales vs. July with 42 - CRMLS 8/1/2015


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JULY 2015 COASTAL ORANGE COUNTY REAL ESTATE NEWS

Just Listed  ~ Excellent Village Laguna Location
721 Browncroft Road, Laguna Beach
3 Bedrooms, 4 Baths, $2,499,000
721Browncroft.com

 

Pending Home Sales Post Six Straight Months of Gains

The California housing market continues its upward trend with pending home sales registering their sixth straight annual gain, and the last four months being in the double-digits. Last weekend at our open house in Dana Point 25 buyers came through genuinely interested in buying and 2 agents showed the property during this time. Ad calls are also increasing.

Equity Sales: The share of equity sales – or non-distressed property sales – edged up further in May to make up 92.6% of all home sales, the highest level since late 2007. Equity sales made up 91.8% of all home sales in April and 88.8% in May 2014. The share of equity sales has been at or near 90% since mid-2014.

Stabilizing Home Prices: In a sign of stabilizing home prices, the share of sales closing below asking price has been on a downward trend for four straight months. One in four sales closed below asking price in May, down from the highest point of 55% in January 2015. More than a third of homes closed over asking price, and 26% closed at asking price.

• The premium paid over asking price declined in May, suggesting diminished market competition among home buyers. In May, homes that sold above asking price sold for an average of 8% above asking price, down from 10% in April but up from 6.5% in May 2014.

• Homes that sold below asking price sold for an average of 7% below asking price in May, down for the first time in four months.

• The share of properties receiving multiple offers fell for the first time in four months. 65% of properties received multiple offers in May, down from 72% in April and up from 62% a year ago.

Time to Buy or to Sell? It is a good time for both buyers and sellers. Buyers, even though the inventory is low properties on the market now are generally equity sales, so most homes are in good condition and still affordably priced. Sellers, with the low inventory your competition is less and market time is relatively low, 60-90 days. Interest rates remain at an all-time low and loan guidelines have eased up a bit, good news for both buyers and sellers.

Interest Rates:
30 year fixed Mortgage rate is currently 4.02%, up slightly versus one week ago,
15 year fixed rate is 3.21%, down slightly versus one week ago,
ARM’s represent 13.6% of all mortgages, down from 20.8% versus last year.

 *CAR 6/22/15/Rates 6/30/15
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 JUNE 2015 SALES STATISTICS FOR LAGUNA BEACH

248 Active Listings
62 In Escrow
27 Closed Sales from 6/01/15 - 6/30/15

Sale Statistics for June 2015:
4 sales under $1 million
16 sales $1-2 million
3 sales $2-3 million
2 sales $3-4 million
1 sale $7,150,000
1 sale $14,200,000

 *Not your city? Let us know and we'll gladly send the sale statistics for any city in SoCal.
 **Source CRMLS 6/30/15

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Just Listed ~ 24692 Morning Star, Dana Point
Beautiful Remodeled Condo in Sea Ridge
$839,000 - 3 Beds, 2.5 Baths, Ocean Views
24692MorningStar.com

 Click Link to Search for Homes at HortonsInLaguna.com

JUNE 2015 COASTAL ORANGE COUNTY REAL ESTATE NEWS

 

Spring Home-Buying Season Off To Strong Start As Home Sales And Prices Increase

California’s housing market accelerated in April as the spring home-buying season kicked off with both higher home sales and prices for the third straight month. Home sales rose above 400,000 the highest amount since August 2013.
 

It’s encouraging that the spring home-buying season is off to such a strong start. Sales activity is at the highest level in the last year and a half, and should remain solid throughout the rest of the season. We are finally seeing some of the pent-up housing demand turning into actual sales, thanks to solid job growth, record-low interest rates, and looser lending requirements.
 

PRICES: The median price of an existing, single-family detached California home increased in April from both the previous month and year for the third consecutive month. See below for information on median price by zip code and year-over-year change from 2014.

SUPPLY AND DEMAND: While it’s a welcomed sign to see the growth in housing demand continue, the lack of supply remains a concern. Sales and active listings increased from the previous year but sales grew at a much faster pace than did active listings, contributing to a decline in available homes for sale.

UNSOLD INVENTORY: The Unsold Inventory Index (how long it takes to sell a home) fell from 3.8 months in March to 3.5 months in April. 6 - 7 months is considered typical in a normal market.  
 

RATES: Economists agree that despite the projected rise in interest rates, 2015 is still looking like it’s going to continue to be a strong year for housing. And 2016 will be even better. The weakness in domestic growth and some stabilization of the European markets have kept a lid on U.S. mortgage rates. Currently the conforming loan rate is 3.8% + .6 points. This is for loans of $417,000 or less.

*CAR 5/15/15
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MAY 2015 SALES STATISTICS FOR LAGUNA BEACH:

236 active listings
57 in escrow
41 closed sales from 5/01/15 - 5/31/15

41 Sales for May 2015:
6 sales under $1 million
15 sales $1-2 million
  9 sales $2-3 million
  5 sales $3-4 million
  4 sales $4-5 million

  1 sale $11,600,000
  1 sale $15,000,000

 *Source CRMLS 5/31/15 ----------------------------------------------------------------------------------------

COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR APRIL 2015 COMPARED TO APRIL 2014:

Balboa Island - 92662 - 2 - $2,800,000: n/a
Capistrano Beach - 92624 - 9 - $820,000: +6.3%
Corona del Mar - 92625 - 14 - $2,030,000: -5.2%
Costa Mesa - 92626 - 35- $685,000: +10.5%
Costa Mesa - 92627 - 47 - $752,000: +6.3%
Dana Point - 92629 - 30- $1,103,000: +19.2%
Laguna Beach - 92651 - 40 - $1,600,000: -11.1%
Laguna Niguel - 92677 - 76 - $838,000: +10.7%
Newport Beach - 92660 - 54 - $1,606,000: +2.8%
Newport Beach – 92661 – 1 - $1,829,000: - 46.2%

Newport Beach – 92663 – 15 - $1,870,000: -1.6%
Newport Coast – 92657 – 23 - $2,758,000: - 28.8%
San Clemente – 92672 – 52 - $831,000: +14.6%
San Clemente – 92673 – 49 - $831,000: +1.3%

*Source DQNews/LATimes 5/15/15

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Pamela and Amanda - Using Social Media To Sell Homes!

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Real Estate Brokers Specializing in the Coastal Real Estate Market

MAY 2015 COASTAL ORANGE COUNTY REAL ESTATE NEWS



Elegant Montage Villa Listed by Pamela & Amanda
3 Bedrooms, 3.5 Baths, Ocean Views, $6,495,000
Located at Montage Resort Laguna Beach
Click to View the Montage Villa Website

Double-Digit Gain in Annual Home Sales Suggests Robust Market Will Continue!

California pending home sales jumped in March to record three straight month-to-month and year-to-year sales increases, portending a solid upcoming spring home-buying season. Pending home sales in Southern California rose 16.7% percent in March up 15% from March 2014. Laguna Beach saw an increase in the number of homes sold. Sales prices increased modestly which can be perceived as good as no one wants to see the huge increases that led the torrid downward spiral of home prices during the lending scandal that hit the country by storm in the earlier part of this decade.

Equity Sales: Non-distressed property sales climbed in March to most of all home sales. Equity sales have been more than 80% of total sales since July 2013 and have risen to or near 90% since mid-2014.

Distressed Sales: Fell in March to 9% of all sales. 

Homes Pricing: The premium paid over asking price declined in March indicating sellers’ and buyers’ expectations are more in line. In March, homes that sold above asking price sold for 7.5% above asking price, this is down from 10% in February, and essentially flat from March 2014. So the tried and true adage stands; price your home right and you will sell your home close to asking price, price it too low and you will have multiple offers, price it over market value and expect to be on the market a long time.

*CoreLogic 4/24/15
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APRIL 2015 SALES STATISTICS FOR LAGUNA BEACH:
 218 Active listings
 68 In Escrow
 39 Closed Sales 4/1/2015 – 4/30/2015

Sales for April 2015:
4 sales under $1 million
20 sales $1-2 million
7 sales $3-4 million
5 sales $4-5 million
1 sale $6,288,598
2 sales $7-8 million
 *Source CRMLS 4/30/15
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR MARCH 2015 COMPARED TO MARCH 2014:

 Balboa Island - 92662 - 5- $2,985,000: -25.4%
Capistrano Beach - 92624 - 9 - $1,080,000: +45.9%
Corona del Mar - 92625 - 10 - $1,760,000: -12%
Costa Mesa - 92626 - 36- $629,000: +4.5%
Costa Mesa - 92627 - 25 - $865,000: +22.3%
Dana Point - 92629 - 23- $885,000: -24%
Laguna Beach - 92651 - 35 - $1,725,000: -12.7%
Laguna Niguel - 92677 - 58 - $801,000: +3.4%
Newport Beach - 92660 - 43 - $1,600,000: -10.5%
Newport Beach – 92661 – 4 - $2,315,000: +12.1%
Newport Beach – 92663 – 15 - $1,650,000: +3.8%
Newport Coast – 92657 – 15 - $2,783,000 -11.7%
San Clemente – 92672 – 41 - $758,000: -7.3%
San Clemente – 92673 – 31 - $875,000: +5.7%
*Source DQNews/LATimes 4/25/15
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Pamela and Amanda: Using Social Media To Sell Real Estate 
Click here to visit HortonsInLaguna YouTube Page

  

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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