Orange County, Ca Real Estate Market Trends | March 2007 report

March 2007 Orange County, California Real Estate market trends report. Price indicators, market update and average sales price by coastal Orange County cities.

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Jump to Market Trends March 2007

Orange County Real Estate Market Update
March 2007

FreddieMac.com reports interest rates have been inching down for the past three weeks. This is icing on the cake for Orange County home buyers who are benefiting from a moderately slower housing market. Sellers haven't been left out in the cold, however, as prices continue to rise in many Orange County communities. Here are the numbers:

 

February figures for Dana Point show the number of new listings increased 7 per cent compared to February 2006. Sold listings were down 45 percent during the same time period and market times increased 40 days or 57 per cent. The average sales price decreased by $200,772 or 16 percent.

Dana
Point

New
Listings

Sold
Listings

Average
Sales price

Average
DOM

February 2007

77

20

$923,120

108

February 2006

83

39

$1,123,892

78

New listings in Laguna Beach increased by 2 per cent in February, while the number of homes that sold dropped by 11 per cent. Market times increased by 48 days or 75 per cent. During this same time frame, the average sales price increased 18 per cent to $2,249,656.

 

Laguna
Beach

New
Listings

Sold
Listings

Average
Sales Price

Average
DOM

February 2007

64

23

$2,249,656

110

February 2006

60

23

$1,903,646

70

Laguna Niguel reported 17 per cent fewer new listings in February 2007 compared to February 2006. Market times were up by 63 per cent as the number of homes sold dropped 13 per cent. The average sales price in Laguna Niguel showed a decline of 7 per cent with the average sales price of $798,209.

 

 

Laguna
Niguel

New
Listings

Sold
Listings

Average
Sales Price

Average
DOM

February 2007

140

54

$798,209

110

February 2006

213

61

$856,530

62

Mission Viejo's average sales price declined 1 per cent to $700,853, while sales decreased by 12 per cent and market times increased by 97 per cent. The number of new listings decreased by 10 per cent.

 

Mission
Viejo

New
Listings

Sold
Listings

Average
Sales Price

Average
DOM

February 2007

287

98

$700,853

91

February 2006

345

113

$710,461

56

The San Clemente average sales price decreased 19 per cent or $248,133, compared to February 2006, bringing the average price to $1,037,118. The number of new listings was down by 10 per cent, while sales dropped 12 per cent. Meanwhile, the average market time increased 58 days or 97 per cent.

 

San
Clemente

New
Listings

Sold
Listings

Average
Sales Price

Average
DOM

February 2007

 162

 43

 $1,037,118

 118

February 2006

 181

 49

 $1,285,251

 60

San Juan Capistrano's average sales price increased 8 per cent this February, rising to $960,638. New listings were lower by 18 per cent. Market times increased 19 days or 27 per cent, but sales increased 13 percent.

 

San Juan
Capistrano

New
Listings

Sold
Listings

Average
Sales Price

Average
DOM

February 2007

72

16

$1,164,175

96

February 2006

86

27

$904,481

50

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

 

 

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