SO CAL HOME MEDIAN PRICE EDGES UP, SALES DROP AGAIN
Southland home sales dropped for the third month in a row amid renewed doubts about a market that is recovering in fits and starts. The median price moved up on a year-over-year basis for the tenth month in a row and has regained about one-fifth of its peak loss. ,
BUYERS: I've said this before and I'm still saying it; this is your market take advantage of the low prices and great deals to be had. Don't wait too long as foreclosures and short sales are lessening or you may be caught saying, "I should have bought in 2010." I hope not!
SELLERS: Please listen to your real estate professional with whom you have placed your trust and confidence to sell a very valued possession...your property. If a price reduction is suggested it is warranted. Amount of showings and lack of offers are signs that a price is too high. When you do receive an offer your agent should negotiate the best price possible and you should accept it. Then you will be ready to move on to the next stage of your life!
*DQNews - Pamela Horton 11/01/10
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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2494, w/Bank Conditions = 483
In Escrow Listings = 823, w/Bank Conditions = 468
Sold from 01/01/10 = 3558, w/Bank Conditions = 1165
*SOCALMLS 11/01/10
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR SEPTEMBER 2009 COMPARED TO SEPTEMBER 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 3 - $4,000,000 - n/a
Capo Beach - 92624 - 6- $983,000 - 58.7%
Cororna del Mar - 92625 - 11 - $1,500,000 - 8%
Costa Mesa - 92626 - 29 - $499,000 - minus 11.8%
Costa Mesa - 92627 - 24 - $575,000 - 25.7%
Dana Point - 92629 - 14 - $820,000 - 18.7%
Laguna Beach - 92651 - 28 - $1,150,000 - minus 13.9%
Laguna Niguel - 92677 - 43 - $575,000 - minus 15.4%
Newport Beach - 92660 - 24 - $1,150,000 - 1.8%
Newport Beach - 92661- 3 - $1,187,000 - minus 30%
Newport Beach - 92663 - 12 - $1,131,000 - 15%
Newport Coast - 92657 - 17 - $629,000 - minus 12.7%
San Clemente - 92672 - 33 - $785,000 - 9.8%
San Clemente - 92673 - 34 - $663,000 - minus 12.3%
*DQNews/LATimes, 11/01/2010
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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!
Sunday, October 31, 2010
Friday, October 1, 2010
OCTOBER 2010 SOUTH ORANGE COUNTY CA COASTAL REAL ESTATE
SOUTHERN CALIFORNIA HOME SALES DIP
Southland home sales saw their biggest year-over-year drop in more than two years last month as the market lost most of the boost from the federal home buyer tax credits.
SALE PRICES: The median sale price dipped for the second month in a row, the result of a shaky economic recovery, continued uncertainty about jobs, and the expiring tax breaks.
MARKET DISTRESS: Indicators continue to move in different directions. Foreclosure activity remains high by historical standards but is lower than peak levels reached over the last two years. Financing with multiple mortgages is low, down payment sizes are stable, and non-owner occupied buying is above-average
BUYERS BEWARE: Over the next couple of months it will be interesting to see how many home shoppers opt for the sure thing, a spectacularly low mortgage rate, and how many hold off in hopes prices fall significantly. The latter group will have to keep a close eye on rates. If they jump much it could wipe out the advantage of a modest price drop.
SELLERS STAY STRONG: Your property needs to stay on the market to sell; just keep your confidence that the right buyer will find your property to be "their new dream home!"
*DQNews - 9/27/10
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COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2713, w/Bank Conditions = 503
In Escrow Listings = 839, w/Bank Conditions = 459
Sold from 01/01/10 = 3166, w/Bank Conditions = 1,042
*SOCALMLS 09/28/10
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COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR AUGUST 2009 COMPARED TO AUGUST 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $1,150,000 - n/a
Capo Beach - 92624 - 7- $485,000 - minus 6.5%
Corona del Mar - 92625 - 11 - $2,125,000 - 8.4%
Costa Mesa - 92626 - 15 - $533,000 - 0.9%
Costa Mesa - 92627 - 20 - $522,000 - minus 15.1%
Dana Point - 92629 - 21 - $850,000 - 13.9%
Laguna Beach - 92651 - 27 - $1,350,000 - 12.4%
Laguna Niguel - 92677 - 47 - $663,000 - minus 1.9%
Newport Beach - 92660 - 20 - $1,288,000 - minus 49.1%
Newport Beach - 92661- 3 - $2,189,000 - n/a
Newport Beach - 92663 - 11 - $1,600,000 - 41.6%
Newport Coast - 92657 - 15 - $1,705,000 - 4.1%
San Clemente - 92672 - 15 - $576,000 - minus 2.0%
San Clemente - 92673 - 34 - $663,000 - minus 12.3%
*DQNews/LATimes, 09/27/2010
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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!
Questions: Contact Pamela@PamelaHorton.com
Southland home sales saw their biggest year-over-year drop in more than two years last month as the market lost most of the boost from the federal home buyer tax credits.
SALE PRICES: The median sale price dipped for the second month in a row, the result of a shaky economic recovery, continued uncertainty about jobs, and the expiring tax breaks.
MARKET DISTRESS: Indicators continue to move in different directions. Foreclosure activity remains high by historical standards but is lower than peak levels reached over the last two years. Financing with multiple mortgages is low, down payment sizes are stable, and non-owner occupied buying is above-average
BUYERS BEWARE: Over the next couple of months it will be interesting to see how many home shoppers opt for the sure thing, a spectacularly low mortgage rate, and how many hold off in hopes prices fall significantly. The latter group will have to keep a close eye on rates. If they jump much it could wipe out the advantage of a modest price drop.
SELLERS STAY STRONG: Your property needs to stay on the market to sell; just keep your confidence that the right buyer will find your property to be "their new dream home!"
*DQNews - 9/27/10
-----------------------------------------------------------------
COASTAL AREA SALES DATA AND DISTRESS SALES STATISTICS OF 2010 FROM 01/01/10 FOR:
Balboa Island, Corona del Mar, Costa Mesa, Dana Point, Laguna Beach, Laguna Niguel, Newport Beach, Newport Coast, San Clemente
Active Listings = 2713, w/Bank Conditions = 503
In Escrow Listings = 839, w/Bank Conditions = 459
Sold from 01/01/10 = 3166, w/Bank Conditions = 1,042
*SOCALMLS 09/28/10
-----------------------------------------------------------------
COASTAL ZIP CODES BY MEDIAN SALES PRICE FOR AUGUST 2009 COMPARED TO AUGUST 2010:
City - # Sold - Median Sale Price - % of price change:
Balboa Island - 92662 - 1 - $1,150,000 - n/a
Capo Beach - 92624 - 7- $485,000 - minus 6.5%
Corona del Mar - 92625 - 11 - $2,125,000 - 8.4%
Costa Mesa - 92626 - 15 - $533,000 - 0.9%
Costa Mesa - 92627 - 20 - $522,000 - minus 15.1%
Dana Point - 92629 - 21 - $850,000 - 13.9%
Laguna Beach - 92651 - 27 - $1,350,000 - 12.4%
Laguna Niguel - 92677 - 47 - $663,000 - minus 1.9%
Newport Beach - 92660 - 20 - $1,288,000 - minus 49.1%
Newport Beach - 92661- 3 - $2,189,000 - n/a
Newport Beach - 92663 - 11 - $1,600,000 - 41.6%
Newport Coast - 92657 - 15 - $1,705,000 - 4.1%
San Clemente - 92672 - 15 - $576,000 - minus 2.0%
San Clemente - 92673 - 34 - $663,000 - minus 12.3%
*DQNews/LATimes, 09/27/2010
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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!
Questions: Contact Pamela@PamelaHorton.com
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