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Orange County Housing Market Summary Jan 2018

by Ashlie DuCros

Orange County Housing Market Summary:

 

  • The active listing inventory increased by 310 homes since the start of the New Year and now totals 3,707. Expect the inventory to increase from now through mid-Summer. Last year, there were 4,376 homes on the market, 669 more than today.
  • There are 31% fewer homes on the market below $500,000 today compared to last year at this time and demand is down by 28%. 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, plunged by 158 in the past couple of weeks, down 10%, and now totals 1,447, most likely its lowest point of the year. The average pending price is $839,613.
  • The average list price for all of Orange County decreased to $1.8 million after reaching a record $1.9 million two weeks ago. 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 46 days. This range represents 38% of the active inventory and 62% of demand.
  • For homes priced between $750,000 and $1 million, the expected market time is 67 days, a slight seller’s market (between 60 and 90 days). This range represents 17% of the active inventory and 19% of demand.
  • For homes priced between $1 million to $1.25 million, the expected market time is 101 days, a balanced market that does not favor a buyer or seller.
  • For luxury homes priced between $1.25 million and $1.5 million, the expected market time increased from 123 days to 157. For homes priced between $1.5 million and $2 million, the expected market time decreased from 196 to 188 days. For luxury homes priced between $2 million and $4 million, the expected market time increased from 266 days to 285 days. For luxury homes priced above $4 million, the expected market time increased from 667 to 695 days.
  • The luxury end, all homes above $1.25 million, accounts for 36% of the inventory and only 12% of demand.
  • The expected market time for all homes in Orange County increased from 67 days to 77 in the past two weeks, a tepid seller’s market (60 to 90 days). From here, we can expect the market time drop dramatically by the end of this month.
  • Distressed homes, both short sales and foreclosures combined, make up only 1.3% of all listings and 2.7% of demand. There are only 17 foreclosures and 33 short sales available to purchase today in all of Orange County, that’s 50 total distressed homes on the active market, dropping by 11 in the past two weeks and reaching its lowest level since the very beginning of the Great Recession. Last year there were 112 total distressed sales, 124% more than today.
  • There were 2,269 closed residential resales in December, down by 9% from December 2016’s 2,484 closed sales. December marked a 6.5% drop from November 2017. The sales to list price ratio was 97.3% for all of Orange County. Foreclosures accounted for just 0.8% of all closed sales and short sales accounted for 0.9%. That means that 98.3% of all sales were good ol’ fashioned sellers with equity.

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

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!

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

Here is the recent market trends for Kerrigan Ranch, Manor Homes, and San Antonio Estates in Yorba Linda:

July 2012

Homes for sale : There are total of 6 homes on the market which are all normal, standard sales. They average $347.30 per sqft. and 173 average days on the market in the month of July.

Homes in escrow: There are currently 2 homes in escrow right now. Both are short sale homes with $240.29 per sqft., with average of 46 days on the market.

Closed homes in the month of July: There were total of 3 homes closed/SOLD  in Kerrigan Ranch community. all of these homes were regular, standard sales. No distressed sales were sold. They averaged $328.19 per sqft, and average days on the market was 58.

Do you have any questions about Kerrigan Ranch, Manor homes, and San Antonio homes in Yorba Linda? Please contact Ashlie DuCros at 714-743-9778, www.AshlieDuCros.com

Curious about your Yorba Linda home's value? Go to http://www.YorbaLindahomevalue.com to find out recent home value today!

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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