Orange County Real Estate Market Report
Housing prices are expected to continue to have a limited fall throughout 2006, according to testimony submitted by the National Association of Realtors® at last week's Senate Banking Committee hearing on the economy. The Orange County housing market is experiencing a slow down, but prices are continuing to increase. Most communities are experiencing double digit appreciation. Let's look at the numbers.
August figures for Dana Point show the number of new listings actually decreased by 9 percent compared to August 2005. A decrease in new listings is unusual in a slowing market, but not for the end of summer. Sold listings were, also, down 51 percent during the same time period and market times increased 27 days or 4 percent. The average sales price, on the other hand, increased $446,735...a whopping 48 percent.
New listings in Laguna Beach, also, decreased by 29 percent in August , while the number of homes that sold dropped by 32 percent. Market times increased by 19 days or 35 percent. During this same time frame, the average sales price increased 44 percent or $796,217.
Laguna Niguel reported similar numbers with a 19 percent decrease in new listings compared to last year. Market times were up by 66 percent as sales dropped 49 percent. Sales prices in Laguna Niguel increased, however, by 9 percent or $70,906.
Mission Viejo continued to appeciate by 2 percent even though sales decreased by 40 percent and market times increased by 75 percent. The number of new listings increased by 8 percent.
San Clemente sales prices also saw an increase...up $106,133 or 11 percent from a year ago. New listings decreased 5 percent and sales dropped 29 percent. Meanwhile, the average market time increased 26 days or 51 percent.
San Juan Capistrano's average sales price was 20 percent higher this August compared to August 2005. New listings increased 8 percent. Market times increased 27 days or 59 percent and sales were down 19 percent.
Property values are continuing to appreciate, but the competition for ready, willing and able buyers is fierce. Homes must be well staged and priced right to attract buyers. Contact us if you are thinking of selling your home. We have the experience, market knowledge and marketing expertise needed to sell your home in today's market! Also, visit www.HartanovTeam.com or search by interactive map at www.GuideToLocalRealEstate.com to view all Orange County real estate listings, get the current market value of your home and more!
All stats are compiled from the Southern California Multiple Listing Service. Information is deemed reliable but not guaranteed.
August figures for Dana Point show the number of new listings actually decreased by 9 percent compared to August 2005. A decrease in new listings is unusual in a slowing market, but not for the end of summer. Sold listings were, also, down 51 percent during the same time period and market times increased 27 days or 4 percent. The average sales price, on the other hand, increased $446,735...a whopping 48 percent.
New listings in Laguna Beach, also, decreased by 29 percent in August , while the number of homes that sold dropped by 32 percent. Market times increased by 19 days or 35 percent. During this same time frame, the average sales price increased 44 percent or $796,217.
Laguna Niguel reported similar numbers with a 19 percent decrease in new listings compared to last year. Market times were up by 66 percent as sales dropped 49 percent. Sales prices in Laguna Niguel increased, however, by 9 percent or $70,906.
Mission Viejo continued to appeciate by 2 percent even though sales decreased by 40 percent and market times increased by 75 percent. The number of new listings increased by 8 percent.
San Clemente sales prices also saw an increase...up $106,133 or 11 percent from a year ago. New listings decreased 5 percent and sales dropped 29 percent. Meanwhile, the average market time increased 26 days or 51 percent.
San Juan Capistrano's average sales price was 20 percent higher this August compared to August 2005. New listings increased 8 percent. Market times increased 27 days or 59 percent and sales were down 19 percent.
Property values are continuing to appreciate, but the competition for ready, willing and able buyers is fierce. Homes must be well staged and priced right to attract buyers. Contact us if you are thinking of selling your home. We have the experience, market knowledge and marketing expertise needed to sell your home in today's market! Also, visit www.HartanovTeam.com or search by interactive map at www.GuideToLocalRealEstate.com to view all Orange County real estate listings, get the current market value of your home and more!
All stats are compiled from the Southern California Multiple Listing Service. Information is deemed reliable but not guaranteed.
Tags: orange county real estate market report, dana point market report, laguna beach market report, laugna niguel market report, mission viejo market report, san juan capistrano market report, san clemente market report, orange county real estate
posted by The Hartanov Team at 7:55 AM
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