Orange County Home Sales Coasting Into 2007?

Existing home sales are expected to coast into 2007 at roughly the same level as 2006, according to the National Association of Realtors®. Even though exisitng home sales are expected to fall 8.6 percent this year, 2006 remains third-best year on record. Is this is what is happening in Orange County? Figures show home sales to be down across the board compared to 2005. Some home prices are up and some are down.

October figures for Dana Point show the number of new listings remained relatively the same compared to October 2005. Sold listings were down 30 percent during the same time period and market times increased 8 days or 14 percent. The average sales price, on the other hand, decreased $272,739 or 19 percent.


New listings in Laguna Beach increased by 5 percent in October, while the number of homes that sold dropped by 20 percent. Market times increased by 73 days or 155 percent. During this same time frame, the average sales price increased less than 1 percent. This small increase follows a 96 percent increase in prices in September.


Laguna Niguel reported 26 more new listings realtively than 2005, a 27 percent increase. Market times were up by 67 percent as sales dropped 22 percent. Sales prices in Laguna Niguel decreased by 14 percent or $121,367.

Mission Viejo continued to appeciate by 6 percent even though sales decreased by 22 percent and market times increased by 72 percent. The number of new listings increased by 6 percent.

San Clemente sales prices experienced an increase in October...up $101,335 or 11 percent from a year ago. The number of new listings was down by 20 percent, while sales dropped 29 percent. Meanwhile, the average market time increased 32 days or 62 percent.

San Juan Capistrano's average sales price was 4 percent lower this October compared to October 2005. New listings were also lower by 3 percent. Market times increased 19 days or 32 percent and sales were down 4 percent.

Buyers will want to have the expertise, knowledge and experience of a professional who is familiar with all Orange County communities so as not to overpay for a home. We have the credentials needed by today's savvy buyers, so give us a call or send us an email. We are here to help!

Also, visit EmailHome.info for a free, automated email home search. You will receive email notification of homes matching your criteria as they hit the market.

All stats are compiled from the Southern California Multiple Listing Service. Information is deemed reliable but not guaranteed.

Home prices level off

A growing number of sellers are keeping their homes, or renting them out resulting in fewer homes on the market...one of the signs the housing market is moderating. Other signs include a leveling off in home prices and smaller drop in sales. The median price of an Orange County home is down just $1000.00 from September, yet up 3.1% from the same period last year, according to Data Quick Information Systems Read more...

Visit our website to view all Orange County real estate listings, get the current market value of your home and more.

Should You Try to Sell Your Home During the Holiday Season?

A common misconception is that trying to sell a home during the holidays is a bad idea. If you are serious about selling, it can be an excellent time to list. During the holidays buyers are more serious. They have a different motivation like using vacation time to search for property. They're doing that because they have to buy, rather than want to buy. Remember Thanksgiving and Christmas is one day a piece not two months.

10 reasons why you should list your home during the holidays

1. Most November and December buyers are particularly serious and very likely facing some sort of deadline.
2. January is the biggest transfer month of the year and job transferee’s use the holidays to house hunt.
3. Many people want to buy before the end of the year for financial and tax reasons. Investors usually want to close escrow by year-end for tax purposes.
4. Most sellers wait until spring or summer to list their home. This means that during the winter months your property will have far less competition versus any other time of the year.
5. Homes show well when decorated for the holidays creating a sense of family and people are much more emotionally drawn to the house, emotion sells.
6. Many people take vacation around the holidays allowing more time to look for a home.
7. Remodeling, decorating, appliance installation and other services are more available and at less of a premium.
8. There is plenty of mortgage money available for buyers.
9. Lenders aren't as busy and can process loans faster.
10. Showings will be fewer and less intrusive, but more likely to be fruitful with motivated, qualified buyers.

Visit our website to view all Orange County real estate listings, get the current market value of your home and more.