January Orange County Real Estate Market On Property Up To 600k
February 22, 2011 by Ryan Davison · 2 Comments
Housing numbers for January have just come out, lets take a look at them now.
For sale is up 5.3% sold is down 26.8% month over month. Now sold means that the property could have been in escrow for 30-90 days or longer and just so happen to sell in January. The more accurate stat to look at is Pended, because this is property that went into escrow in the month of January. Pended is up 30.9%. The median price sits at $350,000, the same as December. Days on market is at 88. Sellers are getting about 93% of there original list price.
As far as values, this segment of the market is holding pretty steady.
Bottom line: If you find a house that you love in a neighborhood you want, jump on it. Even though reports are saying prices are going to be coming down a little bit more, interest rates are on the rise. A 1% increase in interest rates means a 10% drop in purchasing power.
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December Orange County Real Estate Market On Property Up To 600k
January 29, 2011 by Ryan Davison · Leave a Comment
Housing numbers for December have just come out, lets take a look at them now.
For sale is down 5.1% sold is up 19.8% month over month. Now sold means that the property could have been in escrow for 30-90 days or longer and just so happen to sell in November. The more accurate stat to look at is Pended, because this is property that went into escrow in the month of December. Pended is up 4.4%. The median price sits at $350,000, $10,000 lower then last month, however that is the average dating back 15 months. Days on market is at 82 which is 1 days less then last month. Sellers are getting about 94% of there original list price.
Although prices are coming down just a bit, interest rates are going up slightly so it pretty much balances itself out. Also keep in mind that this is all of Orange County.
Bottom line: If you find a house that you love in a desirable area, jump on it. Especially in this price range, where your dealing with a lot of properties that either have multiple offers or cash from investors. As a buyer It can be frustrating and discouraging. Be patient, the home your looking for is out there, it just may take a little more time they you would like.
| Curnt vs. Prev Month | Curnt vs. Same Month 1 Yr Ago | Curnt vs. Same Qtr 1 Yr Ago | |||||||
| Dec. 10 | Nov. 10 | % Change | Dec. 10 | Dec. 09 | % Change | Oct. 10 to Dec. 10 | Oct. 09 to Dec. 09 | % Change | |
| For Sale | 6502 | 6855 | -5.1%  |
6502 | 3848 | 69%  |
6778 | 3896 | 74% |
| Sold | 1671 | 1395 | 19.8% |
1671 | 1709 | -2.2% |
1543 | 1776 | -13.1% |
| Pended | 1805 | 1729 | 4.4% |
1805 | 1654 | 9.1% |
1746 | 1861 | -6.2% |
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July Real Estate Market On Homes From 600k To 1 Million
August 30, 2010 by Ryan Davison · Leave a Comment
The real estate market in Orange County on homes from $600,000 to $1,000,000 is starting to show some signs of slowing. For sale is up 7.5% sold is down 13.3% and pended is down 5.2%. The median is $717,000, 15,000 dollars lower then last month. Average active and average sold price are also both down. Days on market is at 71 which is the average dating back 15 month. Sellers are still getting 94% of there original list price.
This is a classic example of supply and demand. And a perfect time to buy in this price range, with prices lowering and jumbo loans under 6%.
Keep in mind that this is all of Orange County some towns and neighborhoods may be showing signs of improvement. Email me if you would like to know the stats of an area you are considering moving to.
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May OC Real Estate Market For Homes 600k To 1 Million.
June 14, 2010 by Ryan Davison · Leave a Comment
The real estate market in Orange County on homes from $600,000 to $1,000,000 was very strong for the month of May. As you can see by the graph below, for sale, pended and sold are all up month over month. Days on market is at 74, 5 days more then last month. The average price per Sq. Ft is $303, there is only 1 month when that was higher dating back 15 months. Pended ( property that actually sold in that month) is also the highest it has been in the last 15 months. The average active price is $769,000 no change between this month and last. Sellers are getting about 94% of their original list price!
With historically low interest rates, financing beginning to open up in the jumbo market and prices starting to reflect true values as upper end foreclosures start to mount, makes this is a great time to enter the luxury market.
Now that the tax credit has ended it will be interesting to see what happens in the next few months. Does demand continue to stay strong? Or will supply out weigh demand driving prices down? Only time will tell.
Stay tuned for tomorrow when I will look at the over 1 million market.
| 1 month | 1 year | 15 months | |||||||
| Apr 10 | May 10 | % Change | May 09 | May 10 | % Change | Mar 09 | May 10 | % Change | |
| For Sale | 2141 | 2267 | 5.9% |
2037 | 2267 | 11.3% |
2382 | 2267 | -4.8% |
| Sold | 442 | 551 | 24.7% |
435 | 551 | 26.7% |
328 | 551 | 68% |
| Pended | 657 | 678 | 3.2% |
546 | 678 | 24.2% |
401 | 678 | 69.1% |
April OC Real Estate Market For Homes Over 1 Million
June 3, 2010 by Ryan Davison · Leave a Comment
The real estate market in Orange County on homes over $1,000,000 was strong for the month of April. As you can see by the graph below, for sale, and pended are all up month over month, however sold is down 2.6% but that’s only 5 houses. Days on market is at 100 which is the lowest it has been dating back 15 months. The average price per Sq. Ft is $492,000 which is the average going back 15 month. Pended ( property that actually sold in that month) is the highest it has been in the last 15 months 57 more then last month. The average active list price is $2,918,000. Sellers are getting about 88% of their original list price.
Historically low interest rates have definitely played a huge part in boosting this market. Take advantage of it!
| 1 month | 1 year | 15 months | |||||||
| Mar 10 | Apr 10 | % Change | Apr 09 | Apr 10 | % Change | Feb 09 | Apr 10 | % Change | |
| For Sale | 2093 | 2197 | 5% |
2732 | 2197 | -19.6% |
2569 | 2197 | -14.5% |
| Sold | 195 | 190 | -2.6% |
133 | 190 | 42.9% |
81 | 190 | 134.6% |
| Pended | 247 | 304 | 23.1% |
196 | 304 | 55.1% |
122 | 304 | 149.2% |
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Orange County Housing Market For Homes Up To 600k
May 14, 2010 by Ryan Davison · Leave a Comment
The real estate market in Orange County for homes up to $600,000 was very strong for the month of march. As you can see by the graph below, for sale, sold and pended are all up month over month. Days on market is at 74 which is average dating back 15 months. The average price per Sq. Ft is $257. There is only 1 month out of the last 15 where that was higher. Pended (property that actually sold in that month) is the highest it has been in the last 15 months. The average active price is $362,000 and that is also the highest it has been in the last 15 months.
| 1 month | 1 year | 15 months | |||||||
| Feb 10 | Mar 10 | % Change | Mar 09 | Mar 10 | % Change | Jan 09 | Mar 10 | % Change | |
| For Sale | 4508 | 4824 | 7% |
6795 | 4824 | -29% |
8293 | 4824 | -41.8% |
| Sold | 1361 | 1752 | 28.7% |
1784 | 1752 | -1.8% |
1363 | 1752 | 28.5% |
| Pended | 2107 | 3005 | 42.6% |
2247 | 3005 | 33.7% |
1687 | 3005 | 78.1% |
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New Tax Credit!
March 30, 2010 by Ryan Davison · Leave a Comment
You heard it right, California has just come out with a new tax credit.
The credit is worth up to $10,000, spread over three years. The credit is available to anyone who buys a newly built home or to first-time home buyers who buy a newly built or existing home as your principle residence .
A first-time buyer is defined as an individual, or an individual’s spouse, who had no ownership interest in a principal residence for three years before the date of purchase.
People who are not first-time buyers can get the credit if they buy a newly built home, but not an existing one.
In both cases, the home must be a single-family residence, attached or unattached, and be used as the buyer’s principal residence for at least two years.
The credit is equal to 5 percent of the purchase price or $10,000, whichever is less.
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Best Home Improvement Return On Investment
March 18, 2010 by Ryan Davison · Leave a Comment
Ever wonder how much money you could expect to see on a home improvement? These websites should be very helpful to you.
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Great Deal in Arroyo Grande
January 13, 2010 by Ryan Davison · Leave a Comment
This home is an absolute steal at under 800k! it’s located in Arroyo Grande on 2.5 acres just minutes from the Village and just 10 to 15 minutes from downtown San Luis Obispo. The home has 2745 sq. ft with an open floor plan 3 beds and 3 baths. Also on the property is a detached 5 car garage/ workshop with an upstairs unfinished 2 bedroom unit about 900 sq. ft.
This home is Bank owned which means is has gone through the foreclosure process, no one bought it and now the bank owes it. This home does need a little work like carpet, paint and since this home was built in 1998 the kitchen although very big does need some up grading as well as the bathrooms. With the 5 car and 3 car garage on this property it is perfect for any toys you may have especially an RV or boat. Also if you were able to get the 2 bedroom unit finished it would be a perfect rental to help off set the mortgage and taxes.
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Biggest Price Reduction For The Week Of 11/9/09
November 19, 2009 by Ryan Davison · Leave a Comment
Image via Wikipedia
Steve Puglisi Designed Ridgetop Contemporary! Fine craftsmanship is evident throughout this amazing 3bd,2.5ba, 3500sq.ft. home + 400 sq.ft 1br,1ba guest quarters that sits on over 3 acres. Dramatic living room with 20′ ceilings, large fireplace with granite & flagstone surround. Gourmet kitchen,formal dining & large family room. Upper level master suite,jetted soaking tub & adjacent sitting room with wonderful Avila Valley Views. Beautiful pool, 4-car garage & more. A must See!
This beautiful home is located in San Luis Obispo and has been reduced $50,000! It includes:
- 3 bedrooms
- 2.5 baths
- 3500 sq.ft
- 400 sq.ft 1 bed 1 bath guest house
- 3 acre lot
- Fireplace
- Gourmet kitchen
- 20’ ceilings
- Pool
- 4 car garage
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