Orange County Real Estate Market Update
January 2007
After bottoming in the fourth quarter of 2006, existing-home sales are expected to rise through 2007 and into 2008, while new home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors. Orange County real estate markets are falling in line with the latest NAR forecast.
December figures for Dana Point show the number of new listings increased 4 percent compared to December 2005. Sold listings were down 23 percent during the same time period and market times increased 25 days or 60 percent. The average sales price decreased by $32,751 or 21 percent.
|
Dana |
New |
Sold |
Average |
Average |
|
December 2006 |
51 |
30 |
$1,264,933 |
67 |
|
December 2005 |
49 |
39 |
$1,592,444 |
42 |
New listings in Laguna Beach increased by 7 percent in December, while the number of homes that sold dropped by 8 percent. Days on market (DOM) increased by 5 days or 9 percent. During this same time frame, the average sales price increased 46 percent. Laguna Beach homes have always been in high demand due to the desireability of living in this charming coastal community of custom homes.
|
Laguna |
New |
Sold |
Average |
Average |
|
December 2006 |
29 |
23 |
$2,425,260 |
58 |
|
December 2005 |
27 |
25 |
$1,633,128 |
53 |
Laguna Niguel reported fewer new listings in December 2006 compared to December 2005, a 4 percent decrease. Market times were up by 95 percent as sales dropped 18 percent. Sales prices in Laguna Niguel showed a strong gain of 19 percent with the average sales price of $1,804,434.
|
Laguna |
New |
Sold |
Average |
Average |
|
December 2006 |
67 |
67 |
$1,084,434 |
86 |
|
December 2005 |
71 |
82 |
$911,875 |
44 |
Mission Viejo homes continued to appreciate by 3 percent to $733,425, even though sales decreased by 22 percent and market times increased by 58 percent. The number of new listings decreased by 13 percent.
|
Mission |
New |
Sold |
Average |
Average |
|
December 2006 |
117 |
135 |
$733,425 |
79 |
|
December 2005 |
134 |
173 |
$709,502 |
45 |
San Clemente sales prices experienced a slight decrease in December...down one percent from a year ago. The number of new listings was up by 11 percent, while sales dropped 42 percent. Meanwhile, the average days on market (DOM) time increased 42 days or 93 percent. There may be a significant upside for San Clemente homes due to the anticipated opening of the Marblehead Coastal Development which could have a positive impact on home prices in 2007. Many consider San Clemente to be one of the most affordable ocean front, beach community on the coast.
|
San |
New |
Sold |
Average |
Average |
|
December 2006 |
72 |
43 |
$948,697 |
87 |
|
December 2005 |
65 |
74 |
$956,208 |
45 |
San Juan Capistrano's average sales price soared 93 percent this December compared to December 2005. New listings were lower by 20 percent. Market times increased 27 days or 44 percent and sales were down 44 percent.
|
San Juan |
New |
Sold |
Average |
Average |
|
December 2006 |
36 |
24 |
$1,375,104 |
89 |
|
December 2005 |
45 |
43 |
$710,689 |
62 |
All stats are compiled from the Southern California Multiple Listing Service. Information is deemed reliable but not guaranteed.
- December 2006 Real Estate Market Update
- November 2006 Real Estate Market Update
- October 2006 Real Estate Market Update
- November 2006 Real Estate Market Update
Current Real Estate Market Trends
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