Mission Viejo North Sales Slow in July 2011

August 7, 2011

Mission Viejo North Sales Down to 6 for July 2011 for homes over $600,000 The sales were way down from the high in July of 13 sales for homes priced over $600,000. There was one sale for $2.5 million and one for $900,000. Otherwise the sales were under $800,000. We had 11 new homes on the market reversing a trend from January of decreasing new inventory for this market segment. This shows a renewed interest by sellers to sell their homes. The ones that sold were only on the market for an average of 114 days and that included the expensive home that sold in 192 days and several short sales. One sale drove up the average price in July 2011

Mission Viejo North Average Price Escalates due $2.5 Million sale

The average price jumped from the seven hundred thousands to $1.053 million. The seller of the expensive home had it on the market for $2.995 million and gave the buyer a discount of $495,000 to get the sale done. Other sellers sold for the current listed price or within 5% of it.

The median price increased to $780,000 for July 2011

The median price closely reflects the majority of the sales in July.

It was the highest in 2011. This would be a good trend.

For more details -Click here to see the report

Categories: Canyon Crest Community, Coastal Single Family Homes, Mission Viejo Homes, Residential Real Estate, Single Family Homes.

Mission Viejo 92692 Sales Strong in July 2011 – New Inventory Picks Up

August 4, 2011

Sales of MV Homes in 92692 Steady at 50 - New Inventory 64 Homes

Sales continue to be good news for sellers and buyers alike. New inventory pulled slightly ahead for the month. Over the last two months, new inventory and sales were neck and neck. Only in the early months of the year did the new inventory outweigh the sales. The average days on market were 116, under 3 months from just listed to sold. Only a few listings were over 6 months on the market prior to sale and those were offset by homes that sold within a month. There was a lot of activity and cash buyers.

July 2011 for Mission Viejo 92692 Average Price was $529,770

Many homes were sold in this zip code for less than $529,770. The one sale for $2.5 million skewed the results somewhat but it was spread over 50 sales. The average discount the sellers gave the buyers was 4%. They were willing to negotiate but they priced their homes well. The sellers of the expensive home gave their buyers a 17% discount to get it sold after it was on the market for 6 months.

Median Price $446,500 - Down from June

See? Half of the homes sold for less than $446,500 so the one expensive home did affect the average price. The good news for buyers on a budget is that 25 homes in one month sold for less than $446,500!

For details – Click here to see the report

Categories: Coastal Single Family Homes, Mission Viejo Homes, Residential Real Estate.

Aliso Viejo Home Sales in July 2011 Kick Back Up!

August 3, 2011

Sales back up to 21 for July 2011

Good news! Sales are back in the twenties for Aliso Viejo Single Family homes. March through May sales were strong and then dipped in June. The average days on market continue to be very low, 105 days on market between just listed and sold. Properties are moving swiftly but there is still slightly more inventory than sales for most months.

The Average Price for an Aliso Viejo Home in July 2011 - $598,858

Sellers gave buyers an average of 3% off the last listed price to close the deal. With the short marketing period we see, it means sellers are competitively pricing their property at the start but still negotiating. July’s average sale price rose significantly over June but paled in comparison with April and May. No properties sold for more than $959,000 and very few sold for over $800,000.

Aliso Viejo Median Price for Homes in July $600,000

Aliso Viejo Homes are still very affordable. Half of the homes sold for under $600,000. These are homes built since 1990 for the most part. Mello Roos is very low for the original tracts built in the early 1990′s. The city has great development plans for their city center and manages their staff extremely well. This is a great place to live and work.

For details on the last 12 months – Click here to see the report

Categories: Aliso Viejo, Coastal Single Family Homes, Residential Real Estate.

Sales of Aliso Viejo Condos Slow in July 2011

August 3, 2011

43 Condos Sold in July 2011 After Only 3 Months on the Market

Sales of condos dropped slightly compared to the strength we saw in March through June. The average days on the market is growing so short, the properties are almost disappearing into escrow over night. 106 days on the market is barely over 3 months and includes short sales. New listings in July reversed the trend for more sales than new listings that was set in the previous months. Sellers are encouraged and more inventory is coming on the market. Aliso Viejo has some condominium projects that have all the amenities, pool, gym, party room, and other facilities. This city has fantastic shopping, schools, access to freeways and current floorplans with fairly recently built structures, most are in the 1990′s.

The Average Sales Price for July 2011 was $310,000

This is showing a downward trend and indicates a lot of the small units are selling. Sales are still pretty brisk and for the average price to go down, the investors must be out and picking up all the easy rental units. One and two bedroom units close to the beach, shopping, and work are perfect for young people moving out, older people moving down and everyone else.

Median Price in July 2011 $305,000

The last three months have seen a steady median price, down from the prior three months. More less expensive units are selling. If I were renting, I would definitely want to get into a condo in this market before interest rates and prices go up. Renting is so expensive with our tax laws. The best way to keep the money you earn is to own - not rent - and pay a reasonable mortgage so you can leverage your money and buy a better place!

For details- Click here to see the report

Categories: Aliso Viejo, Coastal Condominiums, Residential Real Estate.

July 2011 Home Sales for Laguna Niguel Stay Strong

August 3, 2011

55 Homes were sold in July 2011 - Best Month in the Last 12!

This was the best month in the last twelve but only one sale ahead of last month. Since March Laguna Niguel has been closing escrows quickly. The days the average listing is on the market is only 120. Most escrows take between 45 and 60 days and the average days on market includes short sales. New inventory is coming on strong too. It has substantially outpaced the sales in 2011 and put pressure on sellers to competitively price their property. If a property shows well and is priced within the most recent sales, the buyers will quickly make an offer even on a short sale.

The Average Price in July 2011 was $901,964 Wow!

The most expensive home sold for $2.7 million followed by numerous sales over $1 million. Our million dollar+ buyers are out looking for bargains too. They are buying in several guard-gated communities with ocean views and hilltop views. Beautiful Laguna Niguel! On the average sellers gave the buyers a 7% discount from the final listed price. There is a very good selection of properties still available. If you would like a list of the homes in your price range, just email me or send me a comment on this blog.

Median Sales Price for July 2011 $700,000

This is more like it, half the single family homes sold for $700,000 or less. There are many affordable properties in Laguna Niguel and just as close to the beach as the $2 million dollar ones. Time to buy!

Categories: Coastal Single Family Homes, Laguna Niguel, Residential Real Estate.

Laguna Niguel Condo Sales for July 2011 Steady

August 3, 2011

July 2011 Sales Were Steady at 32

Sales were not as good as April or May but fairly good looking at the last 12 months. Some really old properties finally closed escrow. Several were near or over one year on the market. Overall the days on market were close to 5 months and have been for the last three months. Since the average was impacted by the old inventory it shows that buyers were hanging in on the short sales and also the less desirable inventory is moving. If you find a condo you like, then make an offer quickly.

Average Price in July 2011 was $292,840 Up from June

The average sold price was up compared to June but down compared to most of the last 12 months. This is another indicator that the less desirable condos are now selling. Sellers brought their prices down to the point at which the final sales price was only about 2% less than the listing price.

Median Price for July 2011 $279,000

This was up by $48,000 from last month surprisingly. The actual sales were all over the price map. The most expensive condo was $590,000 and the cheapest was $153,000, quite a spread. Most were in the $300,000 range and the market is strengthening.

For the details – Click here to see the report

Categories: Coastal Condominiums, Laguna Niguel, Residential Real Estate, Uncategorized.

Dana Point Home Sales Continue Upward Trend in July 2011

August 1, 2011

Sales Continue to Rise - The Best Month in the Last 12

Sales of Dana Point homes went extremely well. There were 26 sales in July which exceeded every month in the last 12 and continued an unbroken trend in 2011 of stable or increasing sales. The average days on market dropped to 139, a little over 4 months between listing and close of escrow. Excellent! This included a number of short sales that took nearly a year or more.

The Average Sales Price was Inflated by One Sale

One home sold for $6.35 million, another for $3.75 million, one for $3.6 million and so on. There were a number of homes over one million dollars that closed escrow in July 2011. The majority of sales were under a million.

The Median Price was $680,000

This is more like it. The median price actually dropped a little due to half of the sales being less than $680,000. There is still a lot of affordable real estate available. Sales have not kept up with new inventory. Plenty of selection for choosy buyers!

For the details – Click here to see the report

Categories: Coastal Single Family Homes, Dana Point, Residential Real Estate.

Dana Point Condo Sales for July 2011 Disappointing

August 1, 2011

Only 9 Condos Sold in July 2011

It wasn’t the worst month in the last twelve, but it was certainly one of them. Sellers only brought on 9 new listings so the trend of new listings outpacing sales was halted. The average days on market for these sales was only 107 and that included one sale that took 274 days to close escrow. There is still a good amount of inventory to see, so this could be the time you buy that wonderful condo by the ocean. Interest rates are predicted to go up, don’t miss out on great prices and great rates.

Average Price Increases by $69,000

We did have a condominium on Atlantis that sold for $728,000 which drove up the average sale price. Overall sellers gave buyers a 5% discount from the last listed price to get the sale done. This is very encouraging for buyers on a tight budget.

Median Price goes up $25,000

The median price rose also but not as dramatically as the average price. It shows that many less expensive condos are still being bought. The median price was $350,000 for the month.

For all the details – Click here to see the report

Categories: Coastal Condominiums, Dana Point, Residential Real Estate.