Orange County CA Real Estate Market Trends

March 2008 figures for Dana Point show the number of new listings decreased 18 percent compared to 2007. Home sales decreased by 21 percent during the same time period, while market times increased to 114 days or 18 percent. The average sales price decreased 6 percent to $949,829. 

New listings in Laguna Beach decreased 25 percent in March and the number of homes that sold decreased by 37 percent. Market times increased 23 percent and the average sales price increased 11 percent to $2,175,657.

Laguna Niguel reported a 27 percent decrease in new listings in March compared to a year earlier. Market times decreased by 12 percent as the number of homes sold dropped 47 percent. The average sales price in Laguna Niguel declined by 7 percent to $860,282.

Mission Viejo's average sales price decreased 24 percent to $536,878, while sales decreased by 63 percent and market times increased 4 percent. The number of new listings decreased by 69 percent.

The San Clemente average sales price dropped 17 percent compared to March 2007, bringing the average price to $835,453. The number of new listings decreased 10 percent, while sales decreased 32 percent. Meanwhile, the average market time increased 39 percent, with average market times of 109 days vs. 81 days in 2007.

San Juan Capistrano's average sales price decreased 21 percent, bringing the average price to $686,517. The number of new listings decreased by 4 percent, while market times increased 43 days or 54 percent. Sales decreased 23 percent.

One of the strongest indicators that the market is beginning to stabilize is the decrease of new homes on the market across the board.  If you want to learn more about Orange County real estate, please contact us at 949-285-3739 or visit GuideToLocalRealEstate.com. To begin searching for Orange County homes, please use our complimentary MLS search.