JUNE 2013 SOUTH ORANGE COUNTY REAL ESTATE

Heisler Park
Great for a stroll along the oceanfront, bring your picnic basket!

 

HIGHEST APRIL HOME SALES SINCE '06; MEDIAN PRICE NEARS 5-YR HIGH

Southern California homes sold at the fastest pace for an April in seven years amid the release of pent-up demand for move-up homes and high levels of investor purchases.

Median Sale Price: Rose to a 58-month high, reflecting both home price appreciation as well as the simultaneous plunge in foreclosure resales and surge in mid- to up-market buying.

Foreclosures and Short Sales: Made up only 12.4% of all sales and short sales made up only 17.7%. Last month's figure was the lowest since it was 10.0% in August 2007. In the current cycle, foreclosure resales hit a high of 56.7% in February 2009.

*Source DQNews 5/14/13

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MAY STATISTICS FOR LAGUNA BEACH:

219 active listings
62 in escrow
44 closed sales from 5/01/13 - 5/31/13

44 Sales for May 2013:
7 sales under $1 million
23 sales $1-2 million
6 sales $2-3 million2
2 sales $3-4 million
1 sale for $4.6 million
3 sales $6-7 million
1 sale $8,100,0001
1 sale for $13,650,000

*As inventory of under $1M listings decreases, the over $1M listings show increased sales.Someone said recently, "The new $1million is now $2Million.

*Source CRMLS 5/31/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR APRIL 2012 COMPARED TO APRIL 2013:

Balboa Island - 92662 - 6 - $1,650,000 - 26.9%
Capo Beach - 92624 - 7 - $853,000 - 2.9%
Corona del Mar - 92625 - 16 - $2,100,000 - 35.5%
Costa Mesa - 92626 - 40- $595,000 - 26.6%
Costa Mesa - 92627 - 25 - $760,000 - 38.6%
Dana Point - 92629 - 32 - $876,000 - 32.9%
Laguna Beach - 92651 - 40 - $1,388,000 - 12.8%
Laguna Niguel - 92677 - 88 - $740,000 - 20.3%
Newport Beach - 92660 - 58 - $1,599,000 - 31.1%
Newport Beach - 92661 -4 - $1,700,000 - 18.5%
Newport Beach - 92663- 17 - $1,900,000 - 68.1%
Newport Coast - 92657 - 20 - $2,313,000 - minus 14.4%
San Clemente - 92672 - 29 - $647,000 - minus 5.5%
San Clemente - 92673 - 51 - $825,000 - 20.4%

*Only 2 zip code with minus %, and all median prices are up along with sales median sale prices.
*Source DataQuickNews/LATimes 5/24/13

 

 

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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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APRIL 2013 SOUTH ORANGE COUNTY REAL ESTATE

Sunset at Treasure Island/Montage
Taken by Amanda 3/28/13

 

O.C. HOME LISTINGS AND DISTRESS SALES NEAR 9-YEAR LOW...

The number of homes for sale in Orange County last week fell to their second-lowest level in numbers dating back nearly nine years. As of March 14th, 3,183 Orange County homes were listed for sale in the Realtor-run Multiple Listing Service, or MLS. The only time in the period that listings were lower was on Jan. 3, when there were 22 fewer homes for sale. A year earlier, Orange County had 7,000 homes for sale. The average in figures dating back to June 2004 is 10,000 listings.

 

Orange County had just 226 distressed property listings - foreclosures and homes selling "short" of the amount needed to pay off the mortgage. That's the lowest number in the past nine years, accounting for 7.1 percent of all listings. A year ago, the county had nearly 2,200 distressed listings, or 30.4 percent of the market. The market shed about a third of its distressed listings in the past month. The current market time needed to sell all the inventory at the current sales pace - also fell to a nine-year low: 1.11 months, or 33 days. The average is four months and 13 days.

*USNational Title 3/31/13
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MARCH STATISTICS FOR LAGUNA BEACH:
1809 active listings
67 in escrow
35 closed sales from 3/01/13 - 3/31/13

35 Sales for March 2013:
11 sales under $1 million
14 sales $1-2 million
4 sales $2-3 million
4 sales $3-4 million
1 sale $9,000,000
1 sale $11,000,000

*CRMLS 3/31/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR FEBRUARY 2012 COMPARED TO FEBRUARY 2013:
Balboa Island - 92662 - 1 - $1,600,000 - minus 11.1%
Capo Beach - 92624 - 8 - $713,000 - 14.5%
Corona del Mar - 92625 - 9 - $1,663,000 - minus 16.9%
Costa Mesa - 92626 - 29- $570,000 - minus 16.9%
Costa Mesa - 92627 - 25 - $617,000 - 24.2%
Dana Point - 92629 - 19 - $829,000 - 41.3%
Laguna Beach - 92651 - 31 - $1,160,000 - 19%
Laguna Niguel - 92677 - 55 - $660,000 - 13.7%
Newport Beach - 92660 - 24 - $943,000 - minus 22.7%
Newport Beach - 92661 - 2 - $1,413,000 - minus 58.2%
Newport Beach - 92663- 11 - $1,385,000 - 2.6%
Newport Coast - 92657 - 13 - $1,850,000 - 19.2%
San Clemente - 92672 - 20 - $540,000 - 2.9%
San Clemente - 92673 - 24 - $717,000 - 7.8%

*DataQuickNews/LATimes 3/30/13

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MARCH 2013 SOUTH ORANGE COUNTY REAL ESTATE

Pamela and Buyer Viewing the Sunset
Taken by Amanda

Southland Begins 2013 With Sales and Price Gains Vs. Year Earlier

This fledgling housing recovery has momentum. Already, price hikes have caused some to question whether it's sustainable, whether it's a 'bubble.' Let's not forget, though, that we're still climbing out of a deep hole from the housing downturn.

Increased Inventory: For the overall market, price pressures should gradually ease as more homeowners react to rising values. This is the 'supply response' many analysts expect. The idea is that many who've held out for higher prices will be tempted to stick a for-sale sign in the front yard. Fewer will owe more than their homes are worth, enabling them to sell. Construction is already rising, and we could see lenders clear backlogs of distressed properties faster, adding to the supply.

Market Conditions: A lot of today's housing demand is fueled not by spectacular job growth and soaring consumer confidence, but by super-low mortgage rates and unusually high levels of investor and cash purchases. Take away any one of those elements and it will matter.

*DQNews 2/26/13

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FEBRUARY STATISTICS FOR LAGUNA BEACH:
167 active listings
65 in escrow
30 closed sales from 2/01/13 - 2/28/13

30 Sales for February 2013:
7 sales under $1 million
7 sales $1-2 million
5 sales $2-3 million
3 sales $3-4 million
1 sale $4.600,000
1 sale $7,100,000

*CRMLS 2/28/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JANUARY 2012 COMPARED TO JANUARY 2013:

City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $1,850,000 - minus 4.3%
Capo Beach - 92624 - 6 - $665,000 - 72.7%
Corona del Mar - 92625 - 7 - $1,500,000 - minus 14.7%
Costa Mesa - 92626 - 22 - $544,000 - 20.4
Costa Mesa - 92627 - 25 - $506,000 - 18.8%
Dana Point - 92629 - 14 - $738,000 - 11.3%
Laguna Beach - 92651 - 24 - $1,456,000 - 61.8%
Laguna Niguel - 92677 - 38 - $691,000 - 1.6%
Newport Beach - 92660 - 17 - $1,374,000 - 14.8
Newport Beach - 92661 - 6 - $1,495,000 - minus 35%
Newport Beach - 92663- 11 - $1,585,000 - 100.6%
Newport Coast - 92657 - 13 - $1,850,000 - 19.2%
San Clemente - 92672 - 27 - $651,000 - minus 3.6%
San Clemente - 92673 - 23 - $730,000 - 4.4%

*DataQuickNews/LATimes/CRMLS 2/26/13
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FEBRUARY 2013 SOUTH ORANGE COUNTY REAL ESTATE

The Ocean Is Always A Wonderous Site

MILLION DOLLAR SALES INCREASED BY 34%, ALL HOME SALES INCREASE BY 17% IN 2012


3,631 Orange County homes sold for $1 million or more in 2012, the highest number since 2007. That’s up 34% from 2011′s tally of million-plus sales, compared to an increase of 17% for sales of all homes in the county.
 

Statewide, million-plus sales increased 27% to 26,993, vs. an 8.2% increase for sales in all price ranges. A record number of California buyers, 7,791 or 29% — paid all cash for their mansions, Data-Quick reported. In addition, four Orange County ZIP codes ranked among 25 in the state with the most million-plus sales: Newport Beach’s back bay area (92660) had 362 $1 million-plus home sales, the report said. Laguna Beach (92651) had 307, Corona del Mar (92625) had 256 and Newport Coast (92657) had 228.
 

This increase is attributed in luxury sales to a recovering economy, rising home prices and a record number of cash purchases. The confidence in the market has returned to high-end buyers.

 

JANUARY STATISTICS FOR LAGUNA BEACH:
157 active listings
50 in escrow
20 closed sales from 12/01/12 - 12/31/12

20 Sales for January 2013:
7 sales under $1 million
8 sales $1-2 million
2 sales $2-3 million
3 sales $4-5 million

*CRMLS, DQNews 1/31/13

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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR DECEMBER 2011 COMPARED TO DECEMBER 2012:
City - Zip Code - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $1,665,000 - minus 28.4%
Capo Beach - 92624 - 9 - $649,000 - 27.3%
Corona del Mar - 92625 - 17 - $1,984,000 - 7.2%
Costa Mesa - 92626 - 30 - $505,000 - 7%
Costa Mesa - 92627 - 37 - $513,000 - .5%
Dana Point - 92629 - 58 - $773,000 - 42%
Laguna Beach - 92651 - 40 - $1,350,000 - 5%
Laguna Niguel - 92677 - 64 - $650,000 - 7.2%
Newport Beach - 92660 - 31 - $1,269,000 - 6%
Newport Beach - 92661 - 9 - $2,375,000 - 17.3%
Newport Beach - 92663- 19 - $1,653,000 - 56.6%
Newport Coast - 92657 - 15 - $2,710,000 - 42.5%
San Clemente - 92672 - 40 - $603,000 - 19.4%
San Clemente - 92673 - 42 - $755,000 - 23.7%

*Orange County posted nearly a 17% gain for the last year with sales rising in 77 of the county's 83 zip codes.

*DataQuickNews/LATimes/CRMLS 1/31/13
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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!

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