Orange County Real Estate Market Update November 2006
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 existing 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.
|
Dana |
New |
Sold |
Average |
Average |
|
October 2006 |
85 |
28 |
$1,133,416 |
65 |
|
October 2005 |
86 |
40 |
$1,406,155 |
57 |
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 price in September.
|
Laguna |
New |
Sold |
Average |
Average |
|
October 2006 |
63 |
24 |
$1,896,791 |
120 |
|
October 2005 |
60 |
30 |
$1,892,466 |
47 |
Laguna Niguel reported 26 more new listings relatively 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.
|
Laguna |
New |
Sold |
Average |
Average |
|
October 2006 |
152 |
69 |
$758,455 |
75 |
|
October 2005 |
126 |
88 |
$879,822 |
45 |
Mission Viejo continued to appreciate 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.
|
Mission |
New |
Sold |
Average |
Average |
|
October 2006 |
281 |
114 |
$700,423 |
81 |
|
October 2005 |
266 |
149 |
$659,335 |
47 |
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 |
New |
Sold |
Average |
Average |
|
October 2006 |
112 |
52 |
$1,047,885 |
84 |
|
October 2005 |
140 |
73 |
$946,520 |
52 |
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.
|
San Juan |
New |
Sold |
Average |
Average |
|
October 2006 |
73 |
29 |
$861,065 |
73 |
|
October 2005 |
82 |
50 |
$836,184 |
46 |
All stats are compiled from the Southern California Multiple Listing Service. Information is deemed reliable but not guaranteed.
Buyers will want to have the expertise, knowledge and experience of professionals who are familiar with all Orange County communities so as not to overpay for a home. We have the credentials needed by today's savvy buyers, and we would be pleased to assist you whether you are buying or selling a home. We are here to help!
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