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Orange County Real Estate Market Update October 2006

Home sales appear to be bottoming out with lower home prices attracting buyers in many areas of the country, according to the National Association of Realtors®. Buyers are not being brought into the Orange County housing market due to lower prices, however. September sales statistics indicate prices are continuing to climb.
 
September figures for Dana Point show the number of new listings decreased by 7 percent compared to September 2005. Sold listings were, also, down 65 percent during the same time period and market times increased 25 days or 40 percent. The average sales price, on the other hand, increased $227,383 or 21 percent.

Dana Point	New LIstings	Sold Listings	Average Sales price	Average DOM
Sept 2006	87	18	$1,318,333	87
Sept 2005	94	52	$1,090,960	62

New listings in Laguna Beach, also, decreased by  20 percent in September, while the number of homes that sold dropped by 16 percent. Market times increased by 10 days or 16 percent. During this same time frame, the average sales price increased 96 percent or $1,685,099. This 96 percent jump in prices is most likely due to an unusual property selling and thus skewing the figures.

Laguna Beach	New Listings	Sold Listings	Average Sales Price	Average DOM
Sept 2006	60	16	$3,448,125	71
Sept 2005	75	19	$1,763,026	61

Laguna Niguel reported similar numbers with the number of new listings realtively unchanged compared to last year. Market times were up by 69 percent as sales dropped 22 percent. Sales prices in Laguna Niguel increased, however, by 5 percent or $43,001.

Laguna Niguel	New Listings	Sold Listings	Average Sales Price	Average DOM
Sept 2006	176	70	$884,742	81
Sept 2005	175	90	$841,741	48

Mission Viejo continued to appeciate by 12 percent even though sales decreased by 25 percent and market times increased by 89 percent. The number of new listings increased by 11 percent.

Mission Viejo	New Listings	Sold Listings	Average Sales Price	Average DOM
Sept 2006	279	161	$756,357	72
Sept 2005	312	214	$676,276	38

San Clemente sales prices also saw an increase...up $14,883 or 2 percent from a year ago. the number of new listings remained the same as sales dropped 42 percent. Meanwhile, the average market time increased 38 days or 73 percent.

San Clemente	New Listings	Sold Listings	Average Sales Price	Average DOM
Sept 2006	147	52	$958,871	90
Sept 2005	147	89	$943,988	52

San Juan Capistrano's average sales price was 3 percent higher this September compared to September 2005. New listings increased 11 percent. Market times increased 27 days or 59 percent and sales were down 42 percent.  

San Juan Capistrano	New Listings	Sold Listings	Average Sales Price	Average DOM
Sept 2006	73	29	$861,065	73
Sept 2005	82	50	$836,184	46

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

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