Friday, December 14, 2018

Sold in the Woods of Lake Forest

We are so excited for our newest homeowners! They will be able to spend the holidays in their new home!  Congratulations on purchasing such a lovely home in the Woods community of Lake Forest.

24881 Rollingwood, Lake Forest just sold by Realtor Chuck Harper


Our clients loved that this stunning home offered 5 bedrooms, 2 bathrooms, and 2,331 square feet of spacious living. Nearly every inch of this home has been remodeled or upgraded! From the modern exterior showcasing the stunning combination of marble stacked stone and wood, a brand new, modern front door, to the luxurious and contemporary interior. The kitchen includes newer stainless appliances, modern quartz counter-tops, custom marble backsplash, and newer flooring.  Ample kitchen cabinet storage, a pantry, hardwood flooring, large modern tiling, custom paint, accent walls throughout, and updated flooring complementing each bathroom. The master suite featured a large closet, dual sink vanity, and beautiful walk-in shower. Additional attributes include: exposed beamed and vaulted ceilings, recessed lighting, multiple ceiling fans throughout and 2 tankless water heaters. The exterior offers just as much beauty with a gorgeously paved driveway leading up to the 2-door, modern style garage door, firepit in the back and turf in both front and back, requiring very little maintenance. 

Available homes in Lake Forest


In addition to the home features, the community of the Woods in Lake Forest is part of the Forest Beach & Tennis Club association which offers residents a Jr. Olympic swimming pool, a smaller pool, a children's wader, beach and swim lagoon, five tennis courts, one Pickleball court, two half court basketball courts, a sand volleyball court, fitness center, preschool, Lake View Lounge, pool tables and shuffleboard.

What a great community to enjoy life in!  

If you are searching for a home in Lake Forest, don't hesitate to give us a call! Lake Forest offers residents a wide selection of communities to live in.  Often described as the entrance to South Orange County is conveniently located next to Irvine, with easy access to the 5/405 fwy and minutes away from Laguna Beach and other coastal towns.  Lake Forest recently has experienced a boom of new homes in the area with communities such as Baker RanchIron Ridge and The Oaks offering residents who are looking for a NEW home many opportunities.  Don't hesitate to give us a call to schedule a private showing at any of these new homes communities. 



Friday, December 7, 2018

Baby it's cold outside... Brrr!


December, The slowest time of the year, the Holiday Market, runs from Thanksgiving through the first couple of weeks of the New Year.  This is the time of the year where the country gets pummeled by blizzards, freezing temperatures, and undrivable roads. School days are cancelled to the delight of so many children. It is no wonder that the housing market cools to its slowest season of the year; who wants to look for a home when the weather is not cooperating. And, there are not as many sellers willing to allow buyers to trapes through their homes, dragging the snow with them. 

It is easy to understand precisely why housing slows for the rest of the country, but why does it occur here in sunny Southern California? Yes, it is a bit cooler than the rest of the year, but the temperature bounces around in the 60’s. There is no snow, just a little bit of rain. Regardless of the weather, housing begins to slow during the Autumn Market, after the kids go back to school. It slows further when the distractions of the holidays set in.

Below is a summary of the of the OC Orange County Real Estate Market:

The active listing inventory decreased by 398 homes in the past two weeks, its largest drop of the year, and now totals 6,820. Last year, there were 4,323 homes on the market, 2,497 fewer than today.
So far this year, 13% fewer homes have come on the market below $500,000 compared to last year, and there have been 26% fewer closed sales. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly vanishing.
Demand, the number of pending sales over the prior month, decreased in the past two-weeks by 122 pending sales, its largest drop of the year, and now totals 1,654. Last year, there were 2,082 pending sales, 26% more than today.
The Expected Market Time for all of Orange County increased from 122 days to weeks ago to 124 days today, a slight Buyer’s Market (120 to 150 days) and the highest level since January 2011. It was at 62 days last year.
For homes priced below $750,000, the market is a Balanced Market (between 90 and 120 days) with an expected market time of 91 days. This range represents 43% of the active inventory and 59% of demand.

Search Available homes under $750,000


For homes priced between $750,000 and $1 million, the expected market time is 111 days, a Balanced Market. This range represents 19% of the active inventory and 21% of demand.
For homes priced between $1 million to $1.25 million, the expected market time is 138 days, a slight Buyer’s Market.
For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the expected market time remained unchanged at 182 days. For homes priced between $1.5 million and $2 million, the expected market time decreased from 235 to 222 days. For luxury homes priced between $2 million and $4 million, the expected market time increased from 340 to 397 days. For luxury homes priced above $4 million, the expected market time increased from 484 to 716 days. 
The luxury end, all homes above $1.25 million, accounts for 30% of the inventory and only 13% of demand.
Distressed homes, both short sales and foreclosures combined, made up only 1.0% of all listings and 1.7% of demand. There are only 24 foreclosures and 41 short sales available to purchase today in all of Orange County, 65 total distressed homes on the active market, down 13 from two-weeks ago. Last year there were 64 total distressed homes on the market, slightly less than today.
There were 2,328 closed residential resales in October, 9% fewer than October 2017’s 2,553. October marked an 11% increase over September 2018. The sales to list price ratio was 96.9% for all of Orange County. Foreclosures accounted for just 0.4% of all closed sales, and short sales accounted for 0.6%. That means that 99% of all sales were good ol’ fashioned sellers with equity.  For a full copy of the report click here!

What is the Value of your Orange County Home?

Are you thinking of a move and not sure if now is the right time, or maybe you should wait until Spring.   Don't hesitate to give us a call to review the market in your neighborhood along with your goals.  We review Supply, Demand, Interest Rates and YOUR Goals to ensure success. 

We wish you and your family a wonderful holiday season and an abundant New Year! 

Happy Holidays

Realtor Chuck Harper with the Z-Team at Keller Williams

Thursday, December 6, 2018

Just Sold in Dana Point!!

We are so excited to have had the opportunity to help our clients sell their home in the exclusive gated community of Terraza Del Mar in Dana Point.

25 terraza del mar, dana point


About the home! A stunning single-level Mediterranean home with spectacular sunsets and full ocean views in the distance. Tastefully remodeled and upgraded, the home offers designer finishes stylishly blended with a comfortable floor plan and excellent indoor/outdoor flow. The Chef’s kitchen with top of the line Viking stove and double wall ovens, designed to create amazing meals. The classic granite counters, custom cabinetry & large center isle opens to the enormous family room with vaulted ceilings and fireplace. Open floor-plan with vaulted ceilings, recessed lighting, custom crown molding, upgraded wood and Terrazzo flooring, double sided fireplace in the living room, lovely atrium off formal dining room, lots of natural light, plantations shutters & surround sound throughout. The grand master suite features a spacious master bath with his & her sinks, Corian counters, separate shower and soaking tub and a walk-in closet with designer cabinetry. There are 2 additional bedrooms & guest bathroom that features a walk-in shower, granite countertops and a wonderful skylight. The west facing patio offers a fully equipped built-in BBQ, magnificent fire-pit with seating perfect for entertaining or just enjoying a warm summer evening. Only a short walk to the Ocean Ranch Market Center with luxury theaters, restaurants, Trader Joe's, etc.

Search Available Dana Point Homes


About Dana Point...  The unique seaside city of Dana Point is in Orange County, Southern California, halfway between Los Angeles and San Diego. Dana Point is a favorite central point, bordered by the cities of Laguna Niguel, Laguna Beach, San Juan Capistrano and San Clemente.

Dana Point is known as a special place for its picturesque beauty and strong sense of community. Dana Point residents enhance the city through involvement in community groups and civic pride. 

There are always activity choices for Dana Point residents, from Concerts in the Park, recreation classes for all ages, the many Parks, and regular Senior Activities. 

City of Dana Point Community Vision Statement 

"That the City of Dana Point is the most beautiful, desirable and safest coastal community in which to live, work, visit, play or conduct business"


Wondering if now is the right time to make a move?  Don't hesitate to give us a call to review your needs along with the what is happening in your local neighborhood.  



Saturday, November 17, 2018

The Fall Real Estate Market in Orange County!!

The Orange County Real Estate Market has shifted into what we call a balanced market, but it could and the key word their was could be trending towards a buyers market in certain areas and price points.  Which means opportunities are opening up for Buyers.   For Sellers is is all about pricing!


Sellers must price according to their location, condition, upgrades, updates, d├ęcor, and overall appeal.  Remember, the further away you are from a model home the more you have to subtract the price. Because buyer's are addicted to shows like, Fixer Upper, Property Brothers, etc.






Prior to this year, there was not a lot of thought that went into pricing a home. Since 2012, sellers stretched their asking prices and home values soared. It seemed that every time a home sold, it was a new record for the neighborhood. New sellers would come on the market, take a look at the comparable sales, add a little bit more, and then they sifted through multiple offers. They often settled for purchase prices above their asking prices. Sellers were in control as buyers tripped over each other to secure their piece of the “American Dream.”

Below is a Real Estate Snapshot of what is currently happening in the overall OC Real Estate Market through Mid-November.

The active listing inventory decreased by 61 homes in the past two weeks and now totals 7,231. The inventory most likely reached a peak for 2018 two-weeks ago. Normally it peaks between July and August. Last year, there were 4878 homes on the market, 2,353 fewer than today.

So far this year, 13% fewer homes have come on the market below $500,000 compared to last year, and there have been 26% fewer closed sales. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly vanishing.

Demand, the number of pending sales over the prior month, decreased in the past two-weeks by 117 pending sales, and now totals 1,857. Demand peaked in mid-May at 2,726 pending sales. Last year, there were 2,409 pending sales, 30% more than today. 

The average list price for all of Orange County remained at $1.5 million over the past two-weeks. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end.

For homes priced below $750,000, the market is a Balanced Market (between 90 and 120 days) with an expected market time of 90 days. This range represents 43% of the active inventory and 56% of demand.

Laguna Niguel Homes Under $750,000


For homes priced between $750,000 and $1 million, the expected market time is 102 days, a Balanced Market. This range represents 19% of the active inventory and 22% of demand.

For homes priced between $1 million to $1.25 million, the expected market time is 119 days, also a Balanced Market.

For luxury homes priced between $1.25 million and $1.5 million, the expected market time increased from 152 to 175 days. For homes priced between $1.5 million and $2 million, the expected market time increased from 207 to 212 days. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 368 to 305 days. For luxury homes priced above $4 million, the expected market time decreased from 463 to 403 days. 

The luxury end, all homes above $1.25 million, accounts for 30% of the inventory and only 14% of demand.

Search Orange County Luxury Homes


The expected market time for all homes in Orange County increased from 111 to 117 days, a Balanced Market (between 90 to 120 days). It was at 61 days last year.

Distressed homes, both short sales and foreclosures combined, made up only 0.9% of all listings and 1.8% of demand. There are only 20 foreclosures and 46 short sales available to purchase today in all of Orange County, 66 total distressed homes on the active market, down by four from two-weeks ago. Last year there were 58 total distressed homes on the market, nearly identical to today.

There were 2,090 closed residential resales in September, 24% fewer than September 2017’s 2,746. September marked a 25% drop over August 2018. The sales to list price ratio was 96.9% for all of Orange County. Foreclosures accounted for just 0.4% of all closed sales, and short sales accounted for 0.3%. That means that 99.3% of all sales were good ol’ fashioned sellers with equity.


If you are thinking of a move, now is great time to take advantage of the shifting market.   Seller's have the opportunity to sell with the equity gains they have made the past few years and potentially buy for less!  Don't hesitate to contact me direct to review the current market in your area! 

Monday, October 8, 2018

It's Always About Supply and Demand



Supply and Demand is the key to every real estate market and this fall it has made a shift towards a balanced market, which is something Orange County sellers are not use to!






In the past two-weeks, demand, the number of pending sales over the prior month, decreased by 117 pending sales, a 5% drop. Demand now totals 2,050, the lowest demand reading for this time of the year since 2007. The housing market has shifted from a supply problem, not enough homes on the market, to a demand problem, not enough pending sales. Interest rates have climbed to their highest levels since 2011. Higher rates and higher values have weakened affordability, impacting demand tremendously.

Last year at this time, demand was at 2,426 pending sales, 15% more than today, or 376 additional pending sales.

The expected market time, the amount of time it would take for a home that comes onto the market today to be placed into escrow down the road, increased from 100 to 105 days in the past two-weeks, a Balanced Market (between 90 and 120 days). Last year, the expected market time was at 67 days, drastically different than today.

Below is a summary of the overall market

• The active listing inventory decreased by 6 homes in the past two weeks, almost identical, and now totals 7,201. The inventory finally reached a peak for 2018. Normally it peaks between July and August. Last year, there were 5,382 homes on the market, 1,819 fewer than today.

• So far this year, 14% fewer homes have come on the market below $500,000 compared to last year, and there have been 26% fewer closed sales. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly vanishing.

• Demand, the number of pending sales over the prior month, decreased in the past two-weeks by 117 pending sales, and now totals 2,050. Demand peaked in mid-May at 2,726 pending sales. Last year, there were 2,426 pending sales, 15% more than today.

• The average list price for all of Orange County remained at $1.5 million over the past two-weeks. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end.

• For homes priced below $750,000, the market is still a slight Seller’s Market (less than 90 days) with an expected market time of 77 days. This range represents 42% of the active inventory and 58% of demand.

• For homes priced between $750,000 and $1 million, the expected market time is 98 days, a Balanced Market (between 90 to 120 days). This range represents 20% of the active inventory and 21% of demand.



Search Available Homes Under $750,000


• For homes priced between $1 million to $1.25 million, the expected market time is 116 days, a Balanced Market.

• For luxury homes priced between $1.25 million and $1.5 million, the expected market time increased from 134 to 143 days. For homes priced between $1.5 million and $2 million, the expected market time increased from 164 to 170 days. For luxury homes priced between $2 million and $4 million, the expected market time increased from 291 to 384 days. For luxury homes priced above $4 million, the expected market time increased from 328 to 354 days.

• The luxury end, all homes above $1.25 million, accounts for 30% of the inventory and only 14% of demand.

Check out 25 Terraza Del Mar - Just Reduced to $1,330,000


• The expected market time for all homes in Orange County increased from 100 to 105 days, a Balanced Market (between 90 to 120 days).

• Distressed homes, both short sales and foreclosures combined, made up only 1.1% of all listings and 1% of demand. There are only 30 foreclosures and 48 short sales available to purchase today in all of Orange County, 78 total distressed homes on the active market, up by 10 from two-weeks ago. Last year there were 81 total distressed homes on the market, 4% more than today.

• There were 2,090 closed residential resales in September, 24% fewer than September 2017’s 2,746. September marked a 25% drop over August 2018. The sales to list price ratio was 96.9% for all of Orange County. Foreclosures accounted for just 0.4% of all closed sales, and short sales accounted for 0.3%. That means that 99.3% of all sales were good ol’ fashioned sellers with equity.

With the current inventory increasing and homes staying on the market, there is more opportunity for buyers. The key however is to make the move, before interest rates begin to increase as projected by the end of the year. Even with the market as it is today, all the numbers indicate homes will appreciate approximately 5% next year and interest rates will be over 5%, which will increase your monthly payment over $515/month.



If you are thinking of selling and buying but think you missed the window, you haven't. Selling today, gives you the opportunity to take advantage of the equity gains your home made in the last few years, while buying in a non-competitive market, i.e. the perfect market to make a move up or down.

For a complete copy of this report, click here!






Monday, September 10, 2018

The Dog Days of Real Estate

The dog days of summer is the perfect metaphor for the current real estate market in Orange County. We are experiencing a shift that is leaving homes on the market a bit longer, something we have not encountered for a while.



In looking at the Expected Market Time, the amount of time it would take to place a home on the market today and open up escrow down the road, it has grown from a low of 51 days at the end of February, to 98 days today. Anything above 90 days is a Balanced Market, one that does not favor sellers or buyers. Basically, the Expected Market Time is the current velocity of the housing market. The overall speed of housing has slowed considerably over time. It is a function of supply and demand. The market slows when supply increases. It also slows when demand decreases. When supply increases and demand drops at the same time, the market rapidly slows; and, that is precisely what occurred from May through today. The supply has climbed from 5,730 homes in May to 7,070 today, a 23% increase and its highest level since August 2016. In the meantime, demand dropped from 2,726 pending sales to 2,162, a 21% drop and its lowest level for this time of the year since 2007. 

Sellers need to re-calibrate their expectations. First, the best “bait” that is working today is price. Pricing at or extremely close to a home’s Fair Market Value is critical. Next, sellers must pack their patience. Often, sellers are required to keep their poles in the water and wait for the right buyer to come along. The market, for the most part, is not delivering instant success regardless of how well a home is priced. Another issue is that many sellers are still stretching their asking prices, either wishing they could achieve more than the most recent comparable sale, or they are leaving a little room for negotiations. Both strategies result in not accomplishing the goal in selling. As a result, price reductions are rampant. 44% of the entire active listing inventory has reduced their asking price at least once. 

A warning to buyers: it is still not a buyer’s market, so paying at or very close to a home’s Fair Market Value is vital in securing a home. Buyers who are busy writing offers below recent comparable sales are wasting everybody’s time, including their own. The market is balanced. Yes, there are a few more choices, but there is not a glut of inventory. A surplus of inventory is needed to push the market in the buyer’s favor. Today’s market is not even close to generating a surplus of homes. In fact, the inventory has not even reached the long-term average of 8,000 homes and is about to peak for the year. Sellers are not desperate and are not going to cave to a buyer looking for a deal.

Below is summary of the current OC Real Estate Market:
The active listing inventory increased by 69 homes in the past two weeks, up 1%, and now totals 7,070. Expect the inventory to peak right around now, the start of the Autumn Market. Last year, there were 5,639 homes on the market, 1,431 fewer than today.
So far this year, 16% fewer homes have come on the market below $500,000 compared to last year, and there have been 25% fewer closed sales. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly vanishing.
Demand, the number of pending sales over the prior month, decreased in the past two-weeks by 188 pending sales, 8%, its largest drop of the year, and now totals 2,162. Demand peaked in mid-May at 2,726 pending sales. Last year, there were 2,624 pending sales, 21% more than today. 
The average list price for all of Orange County dropped to $1.5 million over the past two-weeks. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end.
For homes priced below $750,000, the market is still a slight Seller’s Market (less than 90 days) with an expected market time of 72 days. This range represents 41% of the active inventory and 56% of demand.
For homes priced between $750,000 and $1 million, the expected market time is 90 days, a Balanced Market (between 90 to 120 days). This range represents 20% of the active inventory and 22% of demand.
For homes priced between $1 million to $1.25 million, the expected market time is 113 days, a Balanced Market.
For luxury homes priced between $1.25 million and $1.5 million, the expected market time increased from 110 to 124 days. For homes priced between $1.5 million and $2 million, the expected market time increased from 135 to 174 days. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 274 to 257 days. For luxury homes priced above $4 million, the expected market time decreased from 470 to 449 days. 
The luxury end, all homes above $1.25 million, accounts for 31% of the inventory and only 14% of demand.
The expected market time for all homes in Orange County increased from 89 to 98 days, a Balanced Market (between 90 to 120 days). 
Distressed homes, both short sales and foreclosures combined, made up only 0.8% of all listings and 1.4% of demand. There are only 22 foreclosures and 34 short sales available to purchase today in all of Orange County, 56 total distressed homes on the active market, down by two from two-weeks ago. Last year there were 87 total distressed homes on the market, 55% more than today.
There were 2,784 closed residential resales in August, 11% fewer than August 2017’s 3,116. August marked a 1% increase over July 2018. The sales to list price ratio was 97.8% for all of Orange County. Foreclosures accounted for just 0.4% of all closed sales, and short sales accounted for 0.6%. That means that 99% of all sales were good ol’ fashioned sellers with equity.

If selling is on your to do list in 2018, time is now to get your home on the market. With the anticipated market times, we will provide you a strategy to ensure your home is sold as quick as possible and for top dollar.   Don't hesitate to give us a call to review the real estate market in your neighborhood.

For a complete report on the OC Market Click Here!


Thursday, August 30, 2018

Patience is now a Requirement for Home Sellers



Where are the home buyers? Is the best way to start this recap! As sellers are not used to waiting, but it is a trend that has evolved this year and is here to stay.

A surprising 37% of the active listing inventory has been on the market for more than two months, something we have not seen in Orange County for some time.

This year has been all about the evolution of housing from a brisk paced, hot, Seller’s Market to a much more normal, Balanced Market. The trouble is nobody really remembers a “normal” market. It is where homes must be priced well, or they will sit. There is no room for error. In a hot seller’s market, homeowners get away with stretching their asking prices. With very little inventory and heated demand, buyers were willing to pay extra just to secure their piece of the “American Dream.”
Today, housing is much more balanced, a market that does not favor sellers or buyers. Overprice and sit. Sellers that pad the price to leave room for negotiations will sit. Sellers who ignore their professional REALTOR® and arbitrarily pick a price, will sit. Ignore real estate fundamentals like location, condition, and upgrades, and sellers will be stuck without success. 
An unbelievable 37% of all homes on the active listing inventory have been exposed to the market for more than 60-days. That is high considering 39% of the active listing market has come on within the last 30-days. Of course, everyone expects Sellers in the luxury ranges to play the waiting game; however, many sellers in the most affordable price ranges are sitting on the market and waiting as well. Below $500,000, it is 28% of the market. Between $500,000 and $750,000, it is 24% of the market. About a third of all sellers between $750,000 and $1 million have been on the market for over two months. From there, the share of sellers who have been waiting to find success grows, from 40% to 68%. 
For the rest of the year, the percentages will just grow in every price range. That is because housing is now transitioning into the Autumn Market. This season of real estate begins with the kids going back to school. It is no longer the most advantageous time for families to move, so many would be buyers stop their search for the time being. On average, demand drops by 11% from the end of August to the start of October. With less demand, there are fewer sellers who are able to find success. As a result, more sellers find themselves sitting and waiting. 
With both the Spring and Summer Markets in the rear-view mirror, many sellers realize that the best time of the year to sell is now in the past. For the remainder of the year, carefully pricing is absolutely crucial. There will be more homeowners this year who will not be able to isolate a buyer willing to purchase and their contracts to sell will expire. In the real estate trenches, they are called “expired listings.” Expect the number of expired listings this year to spike compared to the rest of the housing run. 
Sellers have a choice: price their homes according to the Fair Market Value or throw in the towel and pull their homes off of the market. It sounds simple, but many sellers quite simply cannot get out of their own ways, unwilling to listen to the real estate experts and do what it takes to achieve their goals in selling. 
Buyers need to be aware that while it is no longer a hot seller’s market, it is not a buyer’s market either. Looking for a “deal” is a waste of time. They too need to look at offering to purchase at a home’s Fair Market Value. Anything less, and they will not be successful in securing their piece of the “American Dream.”
Below is a summary of the each segment of the OC Real Estate Market:
The active listing inventory increased by 108 homes in the past two weeks, up 2%, and now totals 7,001. Expect the inventory to peak right around now, the start of the Autumn Market. Last year, there were 5,862 homes on the market, 1,139 fewer than today. 

· This year, 16% fewer homes have come on the market below $500,000 compared to last year, and there have been 25% fewer closed sales so far this year. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly vanishing. 

· Demand, the number of pending sales over the prior month, decreased in the past two-weeks by 44 pending sales, 2%, and now totals 2,350. Demand peaked in mid-May at 2,726 pending sales. Last year, there were 2,825 pending sales, 20% more than today. 

· The average list price for all of Orange County remained at $1.6 million over the past two-weeks. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end. 

· For homes priced below $750,000, the market is still a seller’s market (less than 90 days) with an expected market time of 65 days. This range represents 40% of the active inventory and 55% of demand. 

SEARCH AVAILABLE HOMES IN LAGUNA NIGUEL UNDER $750,000


· For homes priced between $750,000 and $1 million, the expected market time is 82 days. This range represents 21% of the active inventory and 22% of demand. 

· For homes priced between $1 million to $1.25 million, the expected market time is 101 days, a balanced market (between 90 to 120 days). 

· For luxury homes priced between $1.25 million and $1.5 million, the expected market time increased from 93 to 110 days. For homes priced between $1.5 million and $2 million, the expected market time decreased from 183 to 135 days. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 294 to 274 days. For luxury homes priced above $4 million, the expected market time decreased from 523 to 470 days. 

· The luxury end, all homes above $1.25 million, accounts for 30% of the inventory and only 15% of demand. 

· The expected market time for all homes in Orange County increased from 86 to 89 days in the past two weeks and is just about a balanced market (from 90 to 120 days). 

· Distressed homes, both short sales and foreclosures combined, made up only 0.8% of all listings and 1.6% of demand. There are only 21 foreclosures and 37 short sales available to purchase today in all of Orange County, 58 total distressed homes on the active market, down by one from two weeks ago. Last year there were 82 total distressed homes on the market, 41% more than today. 

· There were 2,766 closed residential resales in July, nearly identical to July 2017’s 2,768 closed sales. July marked a 3% decrease from June 2018. The sales to list price ratio was 97.8% for all of Orange County. Foreclosures accounted for just 0.4% of all closed sales, and short sales accounted for 0.5%. That means that 99.1% of all sales were good ol’ fashioned sellers with equity.

HOW MUCH EQUITY HAS YOUR HOME GAINED IN 2018?


This shift shouldn't be looked at negatively, it is opening up opportunities for all those buyers who could not compete during the HOT Sellers Market.  As well, if you have been holding off on moving up, with the increased inventory, you are still able to sell with the majority of the equity increase you had over the last few years, but purchase at some of a reduced price. 
If you agree opportunities are ahead, let's grab a cup of coffee and review your goals and the market in your area.  We promise to provide you with an in-depth knowledge of the market and a strategy to ensure your goals are met.  Don't hesitate to contact us direct! 

For a complete copy of this report, click here!

Thursday, August 2, 2018

Orange County Real Estate Summer Snaphsot


Is the OC real estate market moving away from a Seller's Market. 

Shift Happens....

Below is a summary of the current real estate market from Reports on Housing..






The active listing inventory increased by 180 homes in the past two weeks, up 3%, and now totals 6,759. Expect the inventory to increase from now through mid-August. Last year, there were 5,967 homes on the market, 792 fewer than today.

· This year, 18% fewer homes have come on the market below $500,000 today compared to last year, and there have been 26% fewer closed sales so far this year. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly vanishing.

· Demand, the number of pending sales over the prior month, decreased in the past two-weeks by 61 pending sales, down 2%, and now totals 2,393. Demand peaked in mid-May at 2,726 pending sales. Last year, there were 2,835 pending sales, 18% more than today.

· The average list price for all of Orange County remained at $1.6 million over the past two-weeks. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end. 

What's the Value of Your OC Home?


· For homes priced below $750,000, the market is hot with an expected market time of just 57 days, but is knocking on the door of a slight seller’s market (60-90 days). This range represents 38% of the active inventory and 56% of demand.

· For homes priced between $750,000 and $1 million, the expected market time is 76 days, a slight seller’s market (between 60 and 90 days). This range represents 20% of the active inventory and 22% of demand.

· For homes priced between $1 million to $1.25 million, the expected market time is 95 days, a balanced market (between 90 to 120 days).

· For luxury homes priced between $1.25 million and $1.5 million, the expected market time decreased from 126 to 107 days. For homes priced between $1.5 million and $2 million, the expected market time increased from 163 to 187 days. For luxury homes priced between $2 million and $4 million, the expected market time increased from 250 to 300 days. For luxury homes priced above $4 million, the expected market time increased from 511 to 718 days.

· The luxury end, all homes above $1.25 million, accounts for 32% of the inventory and only 13% of demand.

Is the OC Luxury Market a Buyer's Market?  Search these deals!   


· The expected market time for all homes in Orange County increased from 80 to 85 days in the past two weeks, a slight seller’s market (from 60 to 90 days).

· Distressed homes, both short sales and foreclosures combined, made up only 0.9% of all listings and 1.4% of demand. There are only 27 foreclosures and 32 short sales available to purchase today in all of Orange County, 59 total distressed homes on the active market, down five in the past two weeks. Last year there were 88 total distressed homes on the market, 49% more than today.

· There were 2,851 closed residential resales in June, down by 12% from June 2017’s 3,229 closed sales. June marked a 1% decrease from May 2018. The sales to list price ratio was 98.2% for all of Orange County. Foreclosures accounted for just 0.2% of all closed sales, and short sales accounted for 0.7%. That means that 99.1% of all sales were good ol’ fashioned sellers with equity.

For a full copy of the report, you can read it here!
If you are thinking of a move, the balanced market is opening up opportunities for buyers.  Let's grab a cup of coffee and review your goals!  We will put a plan together to ensure they are met.  In addition, if you simply have a real estate question, we are just a phone call away


Just Sold - 18 Terraza del mar, Dana Point



Saturday, July 7, 2018

Is the OC Real Estate Summer Market Cooling for Sellers?

Can you believe it, 2018 is half over!  We can't. It has been a very productive year for us.  The real estate market in Orange County has been hot. Much like the weather we had this past weekend.  But is a shift beginning to happen?  The numbers indicated a shift is happening on the high-end. Which means it is a perfect opportunity if you are looking to move into the luxury market!

OC real estate update from Realtor Chuck Harper with Keller Williams

It is good ol’ supply and demand. While there is plenty of supply, demand just is not hot like the lower ranges. For homes priced between $1.5 million and $2 million, the expected market time is at  150 days. That would be opening escrow at the end of November. For homes priced between $2 million and $4 million, the expected market time climbs to 225 days. That would be opening escrow in mid-February of next year. For homes priced above $4 million, the expected market time
balloons to 427 days, which translates to opening escrow in September of next year, 14-months from now.

The number of potential buyers that can afford to purchase a home diminishes as prices rise. In the lower ranges, that is where there are plenty of buyers and not enough choices. They attract a steady stream of buyers and many sellers entertain multiple offers. Yet, at the luxury end of the market, most sellers sit on the market for months and do not find success. There is tremendous seller competition for a limited number of buyers able to afford these homes. In order to find success within the luxury price range, sellers must pack their patience and keep their fishing pole in the water for a lot longer than the lower ranges. Some homes may fly off the market at the higher price points, but they are
the exception and not the rule. Luxury sellers also must be priced right. Like any home, buyers are unwilling to pay more than a home’s Fair Market Value. Yet, many luxury sellers arrive at their asking price arbitrarily, a lot higher than their Fair Market Value. They lack true motivation, as many state that they “don’t have to sell” to help rationalize their price. This is the Achilles’ heel of the luxury market and prevents so many sellers from achieving success. Instead, sellers need to approach pricing with extreme care by looking cautiously at all of the most recent comparable pending and closed sales and local data and statistics. The best advice for a luxury seller: do not pay attention to all of the real estate headlines. Instead, they should rely on the professional analysis and advice of a seasoned REALTOR®.

Truly if your home is valued in the $900k range and you are looking to take a leap in into the luxury market now provides you the opportunity to sell high and buy your next home at a value!  For homes priced below the $900k, demand is still very strong, with high demand and multiple offers, which we would anticipate continuing, especially on the lower end homes.

Below is a summary of the overall market!


• The active listing inventory increased by 257 homes in the past two weeks, up 4%, and now totals 6,362. Expect the inventory to increase from now through mid-August. Last year, there were 5,936 homes on the market, 426 fewer than today.

• This year, 19% fewer homes have come on the market below $500,000 today compared to last year, and there have been 25% fewer closed sales so far this year. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly vanishing.

• Demand, the number of pending sales over the prior month, decreased in the past two-weeks by 95 pending sales, down 4%, and now totals 2,604. Demand peaked in mid-May at 2,726 pending sales. Last year, there were 2,885 pending sales, 11% more than today. 

• The average list price for all of Orange County remained at $1.7 million over the past two-weeks. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end.

• For homes priced below $750,000, the market is HOT with an expected market time of just 48 days. This range represents 36% of the active inventory and 55% of demand.

Orange County Homes Available under $750,000


• For homes priced between $750,000 and $1 million, the expected market time is 64 days, a slight seller’s market (between 60 and 90 days). This range represents 20% of the active inventory and 22% of demand.

• For homes priced between $1 million to $1.25 million, the expected market time is 85 days, a slight seller’s market.

• For luxury homes priced between $1.25 million and $1.5 million, the expected market time increased from 111 to 113 days. For homes priced between $1.5 million and $2 million, the expected market time decreased from 162 to 150 days. For luxury homes priced between $2 million and $4 million, the expected market time increased from 183 to 225 days. For luxury homes priced above $4 million, the expected market time increased from 368 to 427 days. 

• The luxury end, all homes above $1.25 million, accounts for 34% of the inventory and only 14% of demand.

What's the Value of your Orange County Home?


• The expected market time for all homes in Orange County increased from 68 to 73 days in the past two weeks, a slight seller’s market (from 60 to 90 days). 

• Distressed homes, both short sales and foreclosures combined, made up only 0.9% of all listings and 1.4% of demand. There are only 25 foreclosures and 33 short sales available to purchase today in all of Orange County, 58 total distressed homes on the active market, up eight in the past two weeks. Last year there were 76 total distressed homes on the market, 31% more than today.

• There were 2,871 closed residential resales in May, down by 9% from May 2019’s 3,147 closed sales. May marked a 10% increase from April 2018. The sales to list price ratio was 98.5% for all of Orange County. Foreclosures accounted for just 0.5% of all closed sales, and short sales accounted for 0.7%. That means that 98.8% of all sales were good ol’ fashioned sellers with equity.

Thinking you are ready to make a move, but not sure how to get started don't hesitate to give us a call.  We will review the market in your neighborhood, along with your home amenities. Most importantly what your goals are.  We will develop a unique home selling strategy to ensure your goals are met.

For the full OC Market report click here!




Friday, June 15, 2018

A Beautiful View Sold in Dana Point!

We are so excited for our clients who were relocating out of the area and entrusted us with the sell of their home.  After only 16 days on the market and multiple offers we closed escrow.  We think you'll understand why this home went so quickly when you look at the view!

Just Sold 18 Terraza Del Mar Dana Point
Details about the home, from our MLS listing. This Southern California Riviera Mediterranean style villa with resort style pool provides spectacular Pacific Ocean coastline & mountains views. Located in the highly desirable, 36 home community of Terraza Del Mar, it boasts the largest view lot at nearly 13,000 sf. As you walk through the quaint courtyard, you don’t realize what awaits beyond. As you enter, you’ll immediately notice the rich hardwood & canyon stone flooring with incredible views just beyond. The overall estate provides a total of 4 bedrooms and approximately 3100 sf of living space. The main 2800 sf. villa offers 3 bedrooms, 2.5 baths and the 300 sf. detached Casita provides a 4th bedroom with full bath which is perfect for guests, mother-in-law suite or office. You’ll love all of the recent upgrades & renovations, with the impeccable remodeled kitchen including new quartz countertops, cabinetry, custom built-in refrigerator, Bosch induction stove, double wall ovens & drawer microwave and all new doors, windows and solar. The exceptionally large master suite with the over-sized fireplace provides spectacular ocean & mountain views from all windows & private balcony. You’ll feel like you’re on vacation with the new rock pool & large resort style patio that can accommodate groups of all sizes or enjoy one of the private patios for smaller more intimate gatherings. 
  • Sold Date: 6/14/18
  • Listing Agent: Chuck Harper 
  • Sold Price:  $1,765,000


Search Dana Point Homes


If you are thinking of a move, don't hesitate to give us a call to review our strong marketing plan that is certain to bring you results! 

What's the Value of Your Dana Point Home?



Thursday, June 7, 2018

Is a shift happening in the OC market? What did the May numbers reveal?



The housing market is like a big game of tug-of-war between buyers and sellers, as a slight shift happened in May.  








Sellers have been dominating since 2012 with multiple offers and buyers tripping over themselves to be the winning bidder. There is change in the air, and now buyers are beginning to pull back. In the tug-of-war, sellers are still “winning,” but not if they are overpriced.   Buyers are
approaching housing a bit different than they did from 2012 through 2017. They are much more cautious.

Why the caution? The biggest culprits are interest rates and values. Values have increased significantly. The median sales price was up nearly 6% from April 2017 to April 2018. Remember, it has been a hot seller’s market dating back to 2012, six solid years of home price appreciation. From 2012 to 2018, the median has risen by an astounding 73%. At the end of May 2017, interest rates were at 3.95%. They are at 4.66% today, an 18% increase in a year. With higher values and higher mortgage rates, buyers still want to buy; but they are also realizing how this impacts their monthly mortgage.

Below is a summary of how the market is currently performing by segment.


The active listing inventory increased by 144 homes in the past two weeks, up 3%, and now totals 5,874. Expect the inventory to increase from now through mid-Summer. Last year, there were 5,757 homes on the market, 117 fewer than today.

This year, 19% fewer homes have come on the market below $500,000 today compared to last year, and there have been 25% fewer closed sales so far this year. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly vanishing.

Demand, the number of pending sales over the prior month, decreased in the past two-weeks by 61 pending sales, down 2%, and now totals 2,665. It appears that demand peaked two weeks ago. Last year, there were 2,904 pending sales, 9% more than today. 

The average list price for all of Orange County remained at $1.7 million over the past two weeks. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end.

For homes priced below $750,000, the market is HOT with an expected market time of just 43 days. This range represents 35% of the active inventory and 54% of demand.

Search OC Available Homes under $750,000


For homes priced between $750,000 and $1 million, the expected market time is 55 days, a hot seller’s market (fewer than 60 days). This range represents 19% of the active inventory and 23% of demand.
For homes priced between $1 million to $1.25 million, the expected market time is 92 days, a balanced market (between 90 and 120 days) where it does not favor buyers or sellers.

For luxury homes priced between $1.25 million and $1.5 million, the expected market time increased from 90 to 95 days. For homes priced between $1.5 million and $2 million, the expected market time increased from 108 to 123 days. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 197 to 189 days. For luxury homes priced above $4 million, the expected market time decreased from 426 to 395 days. 

The luxury end, all homes above $1.25 million, accounts for 36% of the inventory and only 16% of demand.

What's My Home Value


The expected market time for all homes in Orange County increased from 63 to 66 days in the past two weeks, a slight seller’s market (from 60 to 90 days). 

Distressed homes, both short sales and foreclosures combined, made up only 0.7% of all listings and 1.3% of demand. There are only 22 foreclosures and 22 short sales available to purchase today in all of Orange County, 44 total distressed homes on the active market, up two in the past two weeks. Last year there were 76 total distressed homes on the market, 73% more than today.

There were 2,614 closed residential resales in April, down by 2% from April 2017’s 2,677 closed sales. April was nearly identical to March 2018’s closings. The sales to list price ratio was 98.7% for all of Orange County. Foreclosures accounted for just 0.5% of all closed sales, and short sales accounted for 0.6%. That means that 98.9% of all sales were good ol’ fashioned sellers with equity.

Though the market has had a shift and will continue to shift through summer, we continue to see multiple offers and a quick sell time when homes are both priced and marketed right.  We should see an increase of inventory through June that will open more doors for buyers.  

For a full copy of this report, click here

If you  are thinking of a move and not sure how or where to get started don't hesitate to contact me directly.

Sunday, May 13, 2018

Are Cracks Appearing in the OC Real Estate Market?



Are Cracks Appearing in the OC Real Estate Market?

Even though the housing market is hot, trends have emerged that confirm that it is starting to cool.






Trends are developing which demonstrate that the six-year housing run is beginning to cool. Headlines are the same across the country: there are not enough homes on the market and buyers are having an extremely difficult time finding a home It has been a supply and demand issue for more than six years now, dating back to 2012. The story has not changed much for quite some time; that is, until now!  Below is a summary of the current real estate market!


Orange County Housing Market Summary:

The active listing inventory increased by an incredible 290 homes in the past two weeks, up 6%, and now totals 5,434. Expect the inventory to increase from now through mid-Summer. Last year, there were 5,387 homes on the market, 47 fewer than today.


This year, 20% fewer homes have come on the market below $500,000 today compared to last year, and there have been 27% fewer closed sales so far this year. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly vanishing.

Search Orange County Homes under $500,000


Demand, the number of pending sales over the prior month, increased in the past two-weeks by 35 pending sales, up 1%, and now totals 2,675. Last year, there were 3,012 pending sales, 13% more than today.

The average list price for all of Orange County remained at $1.7 million over the past two weeks. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end.

104 Homes Available at $1,700,000 


For homes priced below $750,000, the market is HOT with an expected market time of just 39 days. This range represents 35% of the active inventory and 55% of demand.

For homes priced between $750,000 and $1 million, the expected market time is 49 days, a hot seller’s market (fewer than 60 days). This range represents 18% of the active inventory and 23% of demand.

Search Orange County Homes $750,000-$1,000,000



For homes priced between $1 million to $1.25 million, the expected market time is 81 days, a slight seller’s market (between 60 and 90 days).

For luxury homes priced between $1.25 million and $1.5 million, the expected market time decreased from 104 days to 92. For homes priced between $1.5 million and $2 million, the expected market time decreased from 129 days to 121. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 208 days to 182. For luxury homes priced above $4 million, the expected market time increased from 386 to 456 days. 

The luxury end, all homes above $1.25 million, accounts for 37% of the inventory and only 15% of demand.

Search Orange County Homes Above $1.25 million


The expected market time for all homes in Orange County increased from 58 days to 61 in the past two weeks, a slight seller’s market (from 60 to 90 days). 

Distressed homes, both short sales and foreclosures combined, make up only 0.8% of all listings and 1.2% of demand. There are only 20 foreclosures and 24 short sales available to purchase today in all of Orange County, that’s 44 total distressed homes on the active market, up one in the past two weeks. Last year there were 81 total distressed sales, 84% more than today.

There were 2,614 closed residential resales in April, down by 2% from April 2017’s 2,677 closed sales. April was nearly identical to March 2018’s closings. The sales to list price ratio was 98.7% for all of Orange County. Foreclosures accounted for just 0.5% of all closed sales, and short sales accounted for 0.6%. That means that 98.9% of all sales were good ol’ fashioned sellers with equity.

For a full copy of this report, make sure to check out Steven Thomas Reports on Housing

So what does the above mean to you as a homeowner and/or home buyer.   Overall the market is very strong in Orange County.  It is important if you are thinking of listing your home that pricing is right on target.   Homes must be presented well and available to show.  It is still a seller's market and a hot one at certain price points, but homebuyers are being cautious on pricing.  It's like baking a cake one, ingredient left out the cake just does not taste as good as it should!  Opportunity is certainly available for home owners if your home value is under $700,000 as demand is extremely strong for this segment of the market.

If you are thinking of a move, let's grab a cup of coffee and review your needs.    One thing is certain, the key to finding the right home in this market is to work with a Realtor that understands your needs and is active in the market to know what homes are available, coming soon and are off market but available.   


         

Monday, April 23, 2018

Does the spike in Inventory, help Buyers? Depends on the Price Point

A sudden spike in the inventory is an ominous sign for sellers to approach the market carefully. An Inventory Spike: In the past two weeks, the active inventory had its largest increase since July 2013. The script for the Orange County housing market has been the same for quite some time now. The year starts with very few homes on the market. The inventory rises slowly, peaking sometime during the summer. The long-term average for the active listing inventory is 8,000 homes; yet, it cannot even hit that level for a day, falling astonishingly short year after year. The headlines have been the same: “Not Enough Homes on the Market” and “Buyers are Tripping Over Themselves to Purchase.” Suddenly, something has changed. More homes are coming on the market, a lot more homes. 

The active listing inventory increased by a staggering 436 homes in the past two weeks, up 9%, and now totals 5,144. Expect the inventory to increase from now through mid-Summer. Last year, there were 5,263 homes on the market, 119 more than today.

This year, 19% fewer homes have come on the market below $500,000 today compared to last year, and there have been 28% fewer closed sales so far this year. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly vanishing.

Demand, the number of pending sales over the prior month, increased in the past two-weeks by 38 pending sells, up 1%, and now totals 2,640. Last year, there were 2,981 pending sales, 13% more than today.

The average list price for all of Orange County dropped from $1.8 million to $1.7 million over the past two weeks. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end.

For homes priced below $750,000, the market is HOT with an expected market time of just 36 days. This range represents 34% of the active inventory and 55% of demand.

For homes priced between $750,000 and $1 million, the expected market time is 45 days, a hot seller’s market (fewer than 60 days). This range represents 18% of the active inventory and 23% of demand.

For homes priced between $1 million to $1.25 million, the expected market time is 71 days, a slight seller’s market (between 60 and 90 days).

For luxury homes priced between $1.25 million and $1.5 million, the expected market time increased from 95 days to 104. For homes priced between $1.5 million and $2 million, the expected market time decreased from 155 to 129 days. For luxury homes priced between $2 million and $4 million, the expected market time increased from 187 days to 208 days. For luxury homes priced above $4 million, the expected market time increased from 313 to 386 days.

The luxury end, all homes above $1.25 million, accounts for 39% of the inventory and only 14% of demand.

The expected market time for all homes in Orange County increased from 54 days to 58 in the past two weeks, a hot seller’s market (fewer than 60 days). The expected market time is knocking on the door of a slight seller’s market (from 60 to 90 days).

Distressed homes, both short sales and foreclosures combined, make up only 0.4% of all listings and 0.4% of demand. There are only 22 foreclosures and 21 short sales available to purchase today in all of Orange County, that’s 43 total distressed homes on the active market, up four in the past two weeks. Last year there were 89 total distressed sales, 107% more than today.

There were 2,613 closed residential resales in March, down by 6% from March 2017’s 2,792 closed sales. March marked a 44% increase from February 2018. The sales to list price ratio was 97.6% for all of Orange County. Foreclosures accounted for just 0.5% of all closed sales, and short sales accounted for 0.6%. That means that 98.9% of all sales were good ol’ fashioned sellers with equity.
So what does this all mean to you.  Give us a call tor review the current market in your neighborhood.   We will review in details current sales, pending demand, your homes condition and develop a plan that brings you results.  Even if you are not planning on selling your home in the near future!

Wednesday, April 11, 2018

Spring 2018 Orange Conuty Real Estate Report!



What a headline.....

Vanishing Lower Ranges: A mind-blowing 15% fewer homes have come on the market below $750,000 so far this year compared to 2017.







The market has been blistering hot for years now. For homes priced below $750,000, it has been a hot seller’s market (an expected market time less than 60-days) since October 2015. Home prices have appreciated dramatically for six solid years. As a result, there are only a handful of detached homes priced below $500,000 today, 55 to be precise, or 1% of the active listing inventory. Back in January 2012, there were 1,806, 22% of the active inventory. Detached homes below $500,000 have essentially disappeared. Similarly, there are only 69 condominiums, 1.5% of the active inventory, priced below $250,000 today. At the beginning of 2012, there were 1,413, 17% of the inventory. Condominiums below $250,000 is a thing of the past.

The story of the disappearing lower end has been evolving. With housing continuing to appreciate, there are now fewer detached homes available below $750,000. It is 13% of all available homes to purchase today compared to 38% in 2012. Relatedly, there are fewer condominiums priced below $500,000, only 13% of today’s inventory compared to 33% in 2012.

The numbers illustrate just how staggering the shortage of lower range homes has become in 2018. So far this year, 20% fewer properties have been placed on the market priced below $500,000 compared to 2017. As a result, there have been 29% fewer closed sales in this price range. The difference is significant. This is precisely why there are so many buyers sitting around waiting for homes to come on the market; there simply are not enough homes in the lower ranges.  HINT… WE HAVE BUYERS FOR YOUR HOME! 

Below is a snapshot of the overall market!


  • The active listing inventory increased by 99 homes in the past two weeks, up 2%, and now totals 4,708. Expect the inventory to increase from now through mid-Summer. Last year, there were 5,016 homes on the market, 308 more than today.
  • This year, 20% fewer homes have come on the market below $500,000 today compared to last year, and there have been 29% fewer closed sales so far this year. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly disappearing.
  • Demand, the number of pending sales over the prior month, increased in the past two-weeks by 64 pending sells, up 3%, and now totals 2,602. Last year, there were 2,957 pending sales, 14% more than today.
  • The average list price for all of Orange County remained at $1.8 million over the past two weeks. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end.
  • For homes priced below $750,000, the market is HOT with an expected market time of just 32 days. This range represents 34% of the active inventory and 57% of demand.
  • For homes priced between $750,000 and $1 million, the expected market time is 43 days, a hot seller’s market (fewer than 60 days). This range represents 18% of the active inventory and 22% of demand.
  • For homes priced between $1 million to $1.25 million, the expected market time is 68 days, a slight seller’s market (between 60 and 90 days).
  • For luxury homes priced between $1.25 million and $1.5 million, the expected market time increased from 88 days to 95. For homes priced between $1.5 million and $2 million, the expected market time increased from 142 to 155 days. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 202 days to 187 days. For luxury homes priced above $4 million, the expected market time increased from 296 to 313 days.
  • The luxury end, all homes above $1.25 million, accounts for 39% of the inventory and only 14% of demand.
  • The expected market time for all homes in Orange County remained at 54 days in the past two weeks, a hot seller’s market (fewer than 60 days). From here, we can expect the market time to remain below 60-days through May.
  • Distressed homes, both short sales and foreclosures combined, make up only 0.8% of all listings and 1.5% of demand. There are only 18 foreclosures and 21 short sales available to purchase today in all of Orange County, that’s 39 total distressed homes on the active market, unchanged in the past two weeks. Last year there were 78 total distressed sales, 100% more than today.
  • There were 2,613 closed residential resales in March, down by 6% from March 2017’s 2,792 closed sales. March marked a 44% increase from February 2018. The sales to list price ratio was 97.6% for all of Orange County. Foreclosures accounted for just 0.5% of all closed sales, and short sales accounted for 0.6%. That means that 98.9% of all sales were good ol’ fashioned sellers with equity.
To read the full report, click here

Find your Dream Home!



If you are considering a move, we would love the opportunity to sit with you and review the current market in your neighborhood and determine if the market matches your goals.  We are just a phone call away!