Despite Slow Sales in Orange County, Ca - Home Prices Rise In Some Areas

The National Association of REALTORS® has published the results of its quarterly sales survey and found that the median home price continues to rise in most metropolitan areas. The median is a typical market price – meaning half of all homes sold for more, and half of all homes sold for less.

Lawrence Yun, NAR chief economist, said the data underscores the fact that all real estate is local. “Some metro areas are hot, while others are experiencing localized problems,” he said.  November sales statistics for Orange County will give us a better idea of what is happening locally.

November figures for Dana Point show the number of new listings decreased 28 percent compared to November 2006. Home sales decreased by 26 percent during the same time period. Market times increased to 141 days or by 110 percent. The average sales price increased 18 percent to $1,321,575. 

Dana Point	New Listings	Sold Listings	Average Sales price	Average DOM
November 2007	43	20	$1,321,575	141
November 2006	58	27	$1,116,625	67

New listings in Laguna Beach decreased by 15 percent in November and the number of homes that sold decreased by 2 percent. Market times increased 77 percent. The average sales price decreased 7 percent to $1,957,949.

Laguna Beach	New Listings	Sold Listings	Average Sales Price	Average DOM
November 2007	27	16	$1,957,949	165
November 2006	42	18	$2,108,250	93

Laguna Niguel reported an 11 percent decrease in new listings in November 2007 compared to November 2006. Market times were increased by 23 percent as the number of homes sold dropped 11 percent. The average sales price in Laguna Niguel showed a decrease of 11 percent bringing the average sales price to $700,236.

Laguna Niguel	New Listings	Sold Listings	Average Sales Price	Average DOM
November 2007	95	41	$700,236	81
November 2006	106	52	$801,730	66

Mission Viejo's average sales price decreased 20 percent to $606,821, while sales decreased by 102 percent and market times increased 23 percent. The number of new listings decreased by 39 percent.

 

Mission Viejo	New Listings	Sold Listings	Average Sales Price	Average DOM
November 2007	115	45	$606,821	79
November 2006	188	147	$761,517	64

 

The San Clemente average sales price dropped 14 percent compared to November 2006, bringing the average price to $984,921. The number of new listings decreased 25 percent, while sales decreased 18 percent. Meanwhile, the average market time increased 19 percent, with average market times of 115 days vs. 97 days in 2006.

San Clemente	New Listings	Sold Listings	Average Sales Price	Average DOM
November 2007	75	35	$984,921	115
November 2006	105	53	$1,139,513	97

San Juan Capistrano's average sales price increased 37 percent this November, bringing the average price to $1,011,859. The number of new listings increased by 5 percent, while market times increased 22 days or 28 percent and sales decreased 5 percent.

San Juan Capistrano	New Listings	Sold Listings	Average Sales Price	Average DOM
November 2007	59	23	$1,011,859	107
November 2006	56	28	$738,285	85

Dana Point and San Jaun Capistrano experienced price increases, but the soft markets in our other communities makes this a perfect time to buy a home in Orange County. What better Holiday gift could you give a loved one than a new home?

Interested in knowing the current market value of your home? Simply visit EmailHouseValue.info. Your market valuation will be emailed to you.

Are you thinking of buying a home? You can get a daily email list of new homes for sale as they hit the market by visiting EmailHome.info. It is fast, easy and FREE!

Or, search for homes on your own, anytime you want, by Aerial Maps at GuideToLocalRealEstate.com

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

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