DECEMBER 2013 SOUTH ORANGE COUNTY REAL ESTATE NEWS

Holidays in Laguna Beach
Include Many Exciting Events for All!

 

 

"Distress Sales Decline As Home Prices Remain Stable"

Indicators of market distress continue to decline. Foreclosure activity remains well below a year-ago and far below peak levels. Financing with multiple mortgages is very low, and down payment sizes are stable. Jumbo loans, mortgages above the old conforming limit of $417,000, accounted for 26.3% of sales.

MEDIAN SALE PRICES: Southern California home buying picked up in October compared with September but fell short of a year earlier as sales in inventory-starved markets and lower-cost markets continued to lag far behind 2012 levels. For the fourth month in a row the region’s median sale price more or less moved sideways, though it was still nearly 22% higher than October 2012.

SALES PRICE INCREASES: It appears that almost all of last month’s price increases reflects rising home prices, while a small portion reflects a change in the price range of homes that sold. Last year there was a large increase in mid- to high-end sales and a big decline in sales of lower-cost distressed properties.

ABSENTEE AND INVESTOR BUYER SALES DOWN: Mostly investors and some second-home purchasers bought 26.5% of the Southland homes sold last month, which is the lowest share for any month since it was 25.1% in November 2011.

"FLIPPING HOMES" INCREASES: 6.5% of homes sold on the open market had previously sold in the prior six months. That’s up from a flipping rate of 6.1% in September and up from 6.0% in October 2012. Flipping peaked at 7.0% February this year and had trended lower most months this year until September. (The figures exclude homes resold after being purchased at public foreclosure auction sales on the courthouse steps).

Source LATimes, DQNews 11/30/13

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NOVEMBER 2013 STATISTICS FOR LAGUNA BEACH:

207 active listings
45 in escrow
28 closed sales from 11/01/13 - 11/30/13

28 Sales for November 2013:
3 sales under $1 million
11 sales $1-2 million
10 sales $2-3 million
1 sale $3,075,000
1 sale $4,010,000

1 sale $5.285,000
1 sale $6,750,000

*Source CRMLS 11/30/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR OCTOBER 2012 COMPARED TO OCTOBER 2013:

Balboa Island - 92662 - 3 - $2,263,000 – 89.1%
Capo Beach - 92624 - 8 - $790,000 – 16.3%
Corona del Mar - 92625 - 16 - $1,761,000 – 22.1%
Costa Mesa - 92626 - 19- $629,000 – 25.2%
Costa Mesa - 92627 - 33 - $788,000 – 46.622.1%
Dana Point - 92629 - 25 - $910,000 – 25.1%
Laguna Beach - 92651 - 32 - $1,425,000 – 29.5%
Laguna Niguel - 92677 - 53 - $835,000 - 28%
Newport Beach - 92660 - 24 - $1,544,000 – 42.9%
Newport Beach – 92661 – 2 - $1,638,000 – 17%

Newport Beach – 92663 – 16 - $1,450,000 – minus 18.3%

Newport Coast – 92657 – 16 - $2,400,000 – minus 23.1%

San Clemente – 92672 – 23 - $700,000 – 12%

San Clemente – 92673 – 28 - $777,000 – 10.6%

 
*Most zip codes have lower median prices than prior month due to decreases in inventory.

*Source DQNews/LATimes 11/30/13

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NOVEMBER 2013 SOUTH ORANGE COUNTY REAL ESTATE NEWS



View This Exquisite Laguna Beach Home Listed by Pamela & Amanda

                                           

“O.C. SEES ITS BEST SUMMER IN HOUSING SINCE 2005”

*Sales - Up 11% from 2012 and marks the busiest July to September since 2005.

*Prices - Increased 19.7% in September year over year.

*Affordability - Only San Francisco is a tougher market for middle-class earners to crack. Orange County came in as the second most unaffordable housing market in a study of 100 spots around the US. San Francisco was the first at 14% and O.C came in at 23%

September Compared to a Year Ago

Prices rose 23% in the 12 months ending in August, the biggest annual percentage gain in almost 9 years. They are close to post-recession highs despite rising interest rates and low inventory.

Resale Homes - up 20.0%

New Homes - up 2.6%

Resale Condos - up 24.6%

Sales Volume

Resale Homes  -  down 0.5%

New Homes  -  up 95.0%

Resale Condos  -  up 16.0%

Sales Volume up 2,916 from 2,677 a year ago

Rentals Reach A New High

Orange County apartment rents rose an average of $37 a month over the summer, pushing the asking rent in a large complex to a record $1,708. The report marked the 11^th consecutive quarter of rising apartment rents in Orange County.

*Source LATimes, DQNews, Register 10/1-25/13
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OCTOBER STATISTICS FOR LAGUNA BEACH:

229 active listings
47 in escrow
31 closed sales from 10/01/13 - 10/31/13

31 Sales for OctoberAugust 2013:
10 sales under $1 million
101sales $1-2 million
3 sales $2-3 million
2 sales 3-4 million
2 sales $4-5 million
1 sales $6,350,000
1 sale $9,400,000
1 sale $15,500,000

*Update: CRMLS 11/18/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR SEPTEMBER  2012 COMPARED TO SEPTEMBER 2013:
Balboa Island - 92662 - 3 - $2,000,000 – minus 16.5%
Capo Beach - 92624 - 6 - $680,000 – 21.4%
Corona del Mar - 92625 - 17 - $2,149,000 – 61.6%
Costa Mesa - 92626 - 38- $625,000 – 24.6%
Costa Mesa - 92627 - 28 - $625,000 - 25%
Dana Point - 92629 - 28 - $835,000 - 30%
Laguna Beach - 92651 - 37 - $1,618,000 – 22.1%
Laguna Niguel - 92677 - 61 - $755,000 – 8.2%
Newport Beach - 92660 - 28 - $1,638,000 - 25%

Newport Beach – 92661 – 5 - $2,795,000 – 32.2%
Newport Beach – 92663 – 10 - $2,200.000 – 4.4%
Newport Coast – 92657 – 21 - $2,975,000 – 51.8%
San Clemente – 92672 – 23 - $795,000 – 13.6%
San Clemente – 92673 – 35 - $922,000 – 38%

*Source DQNews 10/25/13
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                                      Visit this Historic Beach Cottage in Beautiful Victoria Beach

OCTOBER 2013 SOUTH ORANGE COUNTY REAL ESTATE

Laguna Beach 15th Annual Plein Air Painters Invitational 
To be held at Aliso Creek Oct 13-19
LPAPA strives to conserve the artistic and culture heritage of Laguna Beach as an arts colony.

 

 

SALE PRICES SLIGHTLY HIGHER IN AUGUST, SALES STEADY

 

Area home sales were the highest for an August in 7 years.. There are fewer cash and investor purchases as prices increase thus amount of sales are down about 1/3. Median sale prices were comparable to June and July but rose over 2012. This makes the 8th consecutive month with a year-over-year gain over 20%.

*Source LATimes, DQNews 9/30/13

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SEPTEMBER STATISTICS FOR LAGUNA BEACH:

233 active listings
52 in escrow
35 closed sales from 9/01/13 - 9/30/13

32 Sales for September 2013:
8 sales under $1 million
16 sales $1-2 million
6 sales $2-3 million
4 sales 3-4 million
1 sale $4,800,000

*Source CRMLS 9/30/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR SEPTEMBER 2012 COMPARED TO SEPTEMBER 2013:

Balboa Island - 92662 - 1 - $8,350,000 - N/A
Capo Beach - 92624 - 5 - $1,189,000 - 99.0%
Corona del Mar - 92625 - 14 - $2,185,000 - 36.1%
Costa Mesa - 92626 - 30- $609,000 - 35.0%
Costa Mesa - 92627 - 34 - $729,000 - 22.1%
Dana Point - 92629 - 29 - $875,000 - 18.4%
Laguna Beach - 92651 - 38 - $1,968,000 - 31.2%
Laguna Niguel - 92677 - 62 - $776,000 - 15.8%
Newport Beach - 92660 - 38 - $1,573,000 - 21.9%
Newport Beach - 92661 - 5 - $1,680,000 - 6.7%
Newport Beach - 92663- 15 - $1,400,000 - minus 30.6%
Newport Coast - 92657 - 22 - $2,400,000 - minus 11.1%
San Clemente - 92672 - 30 - $828,000 - 14.1%
San Clemente - 92673 - 38 - $880,000 - 25.7%

**Market Changes: Almost all zip codes are down in number of sales and median price from June 2012, % of median price is about the same or less in some zip codes.
Source DataQuickNews/LATimes 9/30/13

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SEPTEMBER 2013 SOUTH ORANGE COUNTY REAL ESTATE

Pamela and Amanda Sold 15 Homes in Laguna Beach
and 20 Total in the First Half of 2013

"FIRST HALF OF 2013 HOME PRICES AND SALES INCREASED AT A RAPID PACE"

Existing home sales rose by 6.5% in July from June and are up 17.2% since this time last year. Home prices rose 7.7% from May to June. Sales so far in 2013 have surged by a 12% gain not seen since March 2006 when the market started the downward spiral of due to loan defaults. Average home prices across the 20 cities have now reached their spring 2004 level as demand outpaced supply.

Current Market: Now increased inventory is coming on the market as sellers realize it is a good time to sell. Interest rates are rising slightly. Along with the difficulty of obtaining a loan many buyers are taking a step back and assessing their situation.

Lease Market: With home buying demand outpacing supply and rising prices buyers are turning to leasing. Some think it's a good idea to sit back and wait for the buying frenzy to end. Rental rates have stayed stable with inventory sizeable.

*Source LATimes, DQNews 8/29//13

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AUGUST STATISTICS FOR LAGUNA BEACH:

243 active listings
59 in escrow
32 closed sales from 8/01/13 - 8/31/13

32 Sales for August 2013:
5 sales under $1 million
13 sales $1-2 million
4 sales $2-3 million
5 sales 3-4 million
1 sale $4,300,000
2 sales $7-8 million
1 sale $10,500,000
1 sale $12,500,000

*Source CRMLS 8/31/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JULY 2012 COMPARED TO JULY 2013:

Balboa Island - 92662 - 2 - $1,490,000 - 6.8%
Capo Beach - 92624 - 15 - $954,000 - 32.1%
Corona del Mar - 92625 - 29 - $2,267,000 - 29.5%
Costa Mesa - 92626 - 45- $600,000 - 23.1%
Costa Mesa - 92627 - 49 - $748,000 - 22.1%
Dana Point - 92629 - 38 - $910,000 - 30%
Laguna Beach - 92651 - 41 - $1,863,000 - 35.5%
Laguna Niguel - 92677 - 86 - $812,000 - 26.9%
Newport Beach - 92660 - 55 - $1,550,000 - 24.8%

                                                                         

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AUGUST 2013 SOUTH ORANGE COUNTY REAL ESTATE

Pamela & Amanda OC Business Journal
Women in Business Award Nominees in 2013



EXISTING HOME SALES SKYROCKETED IN JUNE

Southern California home prices increased 28.3% in June compared to a year ago. The jump was greater than any year-over-year pop seen during the housing boom and the most since January 1989, the first time Data-Quick started tracking these figures.

This market's getting really interesting. There are signs the "blistering pace" of rising home prices won't continue due to rising mortgage rates and the fact that more home owners are waking up to this reviving market and listing their houses for sale.

Why are people moving? Western US leads in people moving more this year more than in the last 5 years. Responses noted: Newer or better home 50%, Better neighborhood 30%, Easier commute 21%

*Source DQNews 7/29/13

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JULY STATISTICS FOR LAGUNA BEACH:

234 active listings
54 in escrow
33 closed sales from 7/01/13 - 7/31/13

33 Sales for JULY 2013:5
5 sales under $1 million
16 sales $1-2 million
8 sales $2-3 million
2 sales $3-4 million
1 sale $8,000,000
1 sale $9,000,000

*Source CRMLS 7/31/13
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR JUNE 2012 COMPARED TO JUNE 2013:

Balboa Island - 92662 - 2 - $2,200,000 -minus 14.9%
Capo Beach - 92624 - 6 - $790,000 - 26.4%
Corona del Mar - 92625 - 15 - $2,000,000 - 28.4%
Costa Mesa - 92626 - 31- $610,000 - 17.3%
Costa Mesa - 92627 - 37 - $613,000 - 13.4%
Dana Point - 92629 - 32 - $763,000 - 2.5%
Laguna Beach - 92651 - 38 - $1,555,000 - 11.1%
Laguna Niguel - 92677 - 64 - $833,000 - 36.9%
Newport Beach - 92660 - 38 - $1,650,000 - 25.8%
Newport Beach - 92661 - 5 - $1,800,000 - 12.5%
Newport Beach - 92663- 14 - $1,463,000 - 28%
Newport Coast - 92657 - 18 - $3,145,000 - 71%
San Clemente - 92672 - 27 - $865,000 - 45.5%
San Clemente - 92673 - 49 - $855,000 - 22.1%

*Source DQNews/LATimes 7/29/13

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