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Orange County Housing Market - Novemeber 2017

by Ashlie DuCros

Here is the Summary of Orange County Housing market

The active listing inventory decreased by 337 homes in the past couple of weeks, the largest drop of the year, and now totals 4,878. The trend is down for the remainder of the year. Last year, there were 5,955 homes on the market, 1,077 more than today.

  • There are 36% fewer homes on the market below $500,000 today compared to last year at this time and demand is down by 16%. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly disappearing.
  • Demand, the number of pending sales over the prior month, increased by 16 homes in the past couple of weeks, up 1%, and now totals 2,409. The average pending price is $879,146.
  • The average list price for all of Orange County remained at $1.7 million. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end.
  • For homes priced below $750,000, the market is HOT with an expected market time of just 40 days. This range represents 40% of the active inventory and 61% of demand.
  • For homes priced between $750,000 and $1 million, the expected market time is 51 days, a hot seller’s market (less than 60 days). This range represents 17% of the active inventory and 20% of demand.
  • For homes priced between $1 million to $1.25 million, the expected market time is 85 days, an extremely slight seller’s market with very slow appreciation.
  • For luxury homes priced between $1.25 million and $1.5 million, the expected market time decreased from 111 days to 100. For homes priced between $1.5 million and $2 million, the expected market time decreased from 173 to 154 days. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 218 days to 164 days. For luxury homes priced above $4 million, the expected market time increased from 326 to 424 days.
  • The luxury end, all homes above $1.25 million, accounts for 35% of the inventory and only 13% of demand.
  • The expected market time for all homes in Orange County decreased in the past couple of weeks from 65 days to 61 days, a tepid seller’s market (60 to 90 days). From here, we can expect the market time to remain relatively flat, rising slightly by year’s end.
  • Distressed homes, both short sales and foreclosures combined, make up only 1.2% of all listings and 2.3% of demand. There are only 20 foreclosures and 38 short sales available to purchase today in all of Orange County, that’s 58 total distressed homes on the active market, decreasing by 9 in the past two weeks. Last year there were 133 total distressed sales, 129% more than today.
  • There were 2,543 closed residential resales in October, down by 1% from October 2016’s 2,575 closed sales. October marked a 7% drop from September 2017, normal for the Autumn Market. The sales to list price ratio was 98.2% for all of Orange County. Foreclosures accounted for just 0.7% of all closed sales and short sales accounted for 1.2%. That means that 98.1% of all sales were good ol’ fashioned sellers with equity.

​​For more information, please contact us at ashlie@ashlieducros.com or 714-743-9778

Yorba Linda Real Estate Market Update

by Ashlie DuCros

Yorba Linda Real Estate Market Update for September 2014

There are total of 295 homes for Sale in Yorba Linda. Yorba Linda's home resale inventories decreased slightly, with a 1 percent decrease since August 2014. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in September. The median listing price in Yorba Linda stayed the same from August to September. There were a total of 21 price increases and 125 price decreases.  Total  homes in escrow is 124, with total of 69 homes that closed in August 2014.

Are you curious about your home value? Simply go to www.YorbaLindaHomeValue.com to find out via email!

January 2013 Orange County Home Stats

by Ashlie DuCros

 

January 2013 Orange County Home Stats:                                            Homes For Sale VS Homes in Escrow
  For Sale In Escrow      
Anaheim 127 269      
Anaheim Hills 57 39      
Brea 33 37      
Fullerton 122 118      
Irvine 185 192      
Laguna Beach 159 18      
Newport Coast 53 12      
Orange 97 107      
Tustin 55 60      
Yorba Linda 89 72      
           
Check out these numbers of homes for sale vs. in escrow for the month of January  in Orange County real estate. For more information, please contact us at Aducroshomes@gmail.com, or 714-743-9778    

 

November 2012 Home Stats for Orange County

by Ashlie DuCros

Check out these numbers of homes for sale vs. in escrow for the month of November in Orange County real estate. For more information, please contact us at aducroshomes@gmail.com, or 714-743-9778

Orange County Home Stats                                November 2012                      
City For Sale In Escrow
Anaheim 177 309
Anaheim Hills 73 53
Brea 48 43
Fullerton 156 118
Irvine 276 213
Laguna Beach 176 22
Newport Coast 76 27
Orange 142 139
Tustin 66 85
Yorba Linda 116 79

Housing Recovery Expands

by Ashlie DuCros

 

The recovery in the housing market is showing itself beyond just rising new and existing-home sales and home price increases.

Home builder stocks, for example, have become the strongest performers of the year in the stock market. Some home builder stocks, like Pulte Group, have even more than doubled in the last year.

With home prices showing signs of stabilizing or even rising too, more home owners also are investing in their homes, either remodeling or purchasing new furniture or appliances, says Brian E. Peery, co-manager of the Hennessy Cornerstone Growth fund. For example, home improvement items like cabinets and plumbing fixtures are seeing sales volumes rebound.

“It does appear we’ve turned the corner and a housing recovery is under way,” says Bradley B. Thomas, an analyst at KeyBanc Capital Markets. “We continue to expect recovery over the next three to five years, if not five to 10 years.”

While the progress has been undeniable in the overall housing market recovery, Thomas points out several challenges remain, such as credit remains tight for those trying to qualifying for financing, and a large inventory of foreclosures continuing to threaten the market. Also, new home construction is still nearly 50 percent below the average monthly level it has been for the last 30 years.

“After having overbuilt for a number of years,” adds David D. Weaver, a co-manager of the Adams Express closed-end equity fund. “We have probably under built recently.”

Source: “Ways to Play a Recovery in Housing,” The New York Times (Oct. 6, 2012)

For more information, please contact Ashlie DuCros at 714-743-9778, or go to www.AshlieDuCros.com

 

October 2012 Home Stats in Orange County

by Ashlie DuCros

Check out these numbers of homes for sale vs. in escrow for the month of October in Orange County real estate. For more information, please contact us at aducroshomes@gmail.com, or 714-743-9778

 

Orange County Home Stats

October 2012

 
 

City

For Sale

In Escrow

 

Anaheim

185

310

 

Anaheim Hills

75

48

 

Brea

36

49

 

Fullerton

141

121

 

Irvine

345

203

 

Laguna Beach

193

32

 

Newport Coast

85

20

 

Orange

158

137

 

Tustin

64

84

 

Yorba Linda

142

92

 

 

Cost of a Home: Impact of Interest Rates

by Ashlie DuCros

 

by The KCM Crew on October 2, 2012

The buyer should always look at the COST of a home, not just the PRICE. The cost is determined by the price and the mortgage interest rate which is available at the time. Below is a list of the interest rates over the last ten years and the impact they have on a $100,000 mortgage payment.

For more information, please contact Ashlie DuCros at 714-743-9778, or go to www.AshlieDuCros.com

 

39 Days of Supply in “Crazy” OC Home Market

by Ashlie DuCros

 

Source: OC Register, October 1, 2012. Jon Lasner

The expected market time for all of Orange County is only 39 days, a low not seen since May 2005. It tends to increase with the transition from the Summer to Autumn Market, but not right now. Instead, it has been continuously dropping for the past three months. Let’s put the current market into proper perspective. A balanced market has an expected market time right around five months. At just 39 days, it is a deep seller’s market.

  • Market time of 1.31 months for Orange County buyers to gobble up all homes for sale at the current pace vs. 1.40 months two weeks ago vs. 3.61 months a year ago vs. 4.28 months two years ago.
  • Of the 8 Orange County pricing slices tracked, 7 had faster market time vs. 2 weeks ago; and 8 improved over a year ago.
  • Orange County homes listed for under a million bucks have a market time of 1.01 months vs. 4.59 months for homes listed for more than $1 million.
  • So, basically, it is 4.5 times harder to sell a million-dollar-plus residence!
  • And just so you know, the million-dollar market represents 30% of all homes listed and 9% of all homes that entered into escrow in the past 30 days.

    Slice

    Listings

    Deals

    Market Time (months)

    2 week ago

    1 yr. ago

    2 yr. ago

    $0-$250k

    538

    571

    0.94

    1.00

    2.84

    3.15

    $250k-$500k

    1,094

    1,463

    0.75

    0.78

    2.68

    3.37

    $500k-$750k

    895

    785

    1.14

    1.30

    3.93

    4.42

    $750k-$1m

    591

    266

    2.22

    2.51

    6.11

    5.98

    $1m-$1.5m

    445

    148

    3.01

    3.23

    6.85

    6.90

    $1.5m-$2m

    264

    68

    3.88

    4.66

    10.05

    12.63

    $2m-4m

    394

    56

    7.04

    6.26

    14.94

    14.28

    $4m+

    232

    19

    12.21

    19.75

    35.88

    31.00

    All O.C.

    4,416

    3,366

    1.31

    1.40

    3.61

 Find out how much your home is worth today! Go to www.AshlieDuCros.com

September 2012 Home Stats in Orange County

by Ashlie DuCros

Check out these numbers of homes for sale vs. in escrow...  Thinking of selling? Now is the time to put your home on the market! For more information, go to www.AshlieDuCros.com

 

 

Orange County Home Stats
City For Sale In Escrow
Anaheim 194 322
Anaheim Hills 83 54
Brea 37 53
Fullerton 150 121
Irvine 379 204
Laguna Beach 210 26
Newport Coast 98 18
Orange 156 139
Tustin 78 77
Yorba Linda 169 91

 

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Ashlie DuCros & Associates
Coldwell Banker Previews Global Luxury
21580 Yorba Linda Blvd.
Yorba Linda CA 92887
714-743-9778
Fax: 714-849-5489