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Median and Average Home Prices

Dana Point Homes and Condos report.

by vbindi on February 17, 2010

This report is for Active for Sale and Sold statistics for homes and condos in Dana Point . This article is generated by the realtor professionals at eVantage Real Estate here in Orange County, CA. Today, there are 152 detached homes for sale, which have a median price of $1,300,000 with an average price per square foot of $653 . These homes are priced from a low of $410,000 for a 2 bedroom, 2 bath, 927 square foot home situated in the subdivision tract called Lantern Village South . On up to a maximum price of $24,999,000 for a fine home boasting of 5 bedrooms, 8 baths, with 9,700 square feet of living area, and a panoramic ocean view, which is located in the Strand at Headlands Tract.

Currently, for attached condos there are 77 units active for sale in Dana Point . The median price of these condominiums is $495,000 and the average price per square foot is $407 . These Active for Sale condos range in price from a low of $179,000 for a unit comprising of 1 bedroom, 1 bath, 700 square foot, that is found in the Harbor Walk Tract. Up to a maximum price of $2,490,000 for a roomy condo consisting of 3 bedrooms, 4 baths, with 3,318 square feet found in the Sea Villas at St. Regis Subdivision.

For properties currently under contract in Dana Point there are 51 detached homes in escrow, with a median value of $649,000 . These detached homes range in price from a low of $349,000 for a 2 bedroom, 1 bath, 700 square foot property located in the Lantern Village Tract. On up to a maximum price of $5,995,000 for a fine property incorporating 4 bedrooms, 5 baths, with an expansive 5,000 square feet of living area, located in the Dana Point Harbor area.

For condos, there are 44 units now in escrow in Dana Point , with a median price of $339,900 . These pending units range in price from $159,000 for a 1 bedroom, 1 bath, 700 square foot condominium, situated in the Harbor Walk Subdivision. On up to a high price of $749,000 for a fine condo consisting of 3 bedrooms, and 3 baths, with 1,800 square feet, found in the Niguel Beach Terrace Subdivision.

In the past 3 months, there were 43 detached homes that have sold and closed escrow in Dana Point . These sold homes had a median price of $683,100 with an average price per square foot of $350 . These sold and closed homes range in price from a low of $410,000 for a detached home comprised of 2 bedrooms, and 1 bath, with 976 square feet, and is located in the California Homes Subdivision. And a maximum price of $6,200,000 for an estate property comprising of 5 bedrooms, 6 baths, and a spacious 6,100 square feet located in the Ritz Cove Tract.

For the past 90 days, there were 39 attached condominiums that have sold and closed escrow in Dana Point , California. The median price of these attached units was $434,000 and the average price per square foot was $344 . These sold condominiums ranged in price from a low of $125,000 for a 1 bedroom, 1 bath, 490 square foot unit found in the Harbor Walk condo Tract. And the maximum priced sold condo was $923,000 for a nice unit comprised of 2 bedrooms, 3 baths, and 2,000 square feet unit.

If you have any questions regarding homes or condominiums for sale in Dana Point , please feel free to contact our Dana Point realtor expert at: (949) 388-3396, or email us at: Info@eVantageRE.com .

Low Priced Homes are Red Hot in Orange County

by vbindi on January 18, 2010

Orange County, CA: After the major price correction that began in the summer of 2006′, the local real estate market continues to be strong. demand is exceeding supply in most all price levels, except for homes priced above $1.1 Million. The average Months of Inventory is just 1.55 Months for all price range of homes, and for lower priced homes, the months of inventory is just 0.9 Months. Below is a graph of the Months of Inventory for south Orange County residential real estate. As can be seen in this graph, the months of inventory has dropped dramatically since the peak in late 2007′, and has been hovering around the 1.5 to 2 Months level for nearly 8 months now.

This dramatic improvement in the local market is a result of the low inventory of homes and condos for sale, and the strong demand that has resulted from the large drop in property values, and the historically low interest rates.  The low level of Months of Inventory has put a halt to price reductions as can be seen in the graph below.  The Price per Square foot is a much more accurate indicator of relative price movements for a given area, than a calculation of Average or Median prices.   The graph below shows that prices have declined about 32% from the peak in pricing in the summer of 2006′.  Pricing has remained relatively flat for most of 2009′ at the $300 per Square Foot range for detached homes, and $275 per Square Foot for attached condos in Orange County.  For more information about property values here in Orange County, feel free to contact us at:  (949) 388-3396 or email us at:  Info@eVantageRE.com

Mission Viejo Homes are Selling Fast

by vbindi on December 17, 2009

The local real estate market here in Mission Viejo and Orange County has gone through a major price correction that began in the Spring of 2006′.  In the Spring of 2006′ the Median sales price for a detached home (SFR) in Mission Viejo was $735,000, and for attached condos the median price was $485,000 at that time.  Today, the median sales price for SFR homes is $515,000, and $315,000 for Condominiums.  This represents a price decline of 30% for detached homes and 35% for attached Condos in Mission Viejo.

Due to this severe decline in prices, and historically low interest rates, well priced homes and condos are selling very rapidly in Mission Viejo.  The most accurate measure of the strength or weakness of any local real estate market is the measure of Months of Inventory.  Months of Inventory is a standardized statistic of the calculation of how many months it would require to sell the current existing inventory of homes for sale.  This is basically a calculation of the ratio of the number of homes active for sell, compared to the rate at which homes are currently selling.  The larger the inventory of homes, and the slower rate of sales produces a large calculation of Months of Inventory.  Correspondingly, and small Months of Inventory represents a strong Sellers market.

Currently the months of inventory for attahced Condos in Mission Viejo is a very low 0.6, and the months of inventory for detached homes is a low 0.9.    That is to say iw would only take 2.5 weeks to sell out the entire inventory of  condos  currently for sale, if no other condos were added on the market for sale in Mission Viejo.  Tht is a supre red hot sellers market.  And likewise for detached homes.  Traditionally, a Months of Inventory of greater than 6 months is a soft Buyers market.  A figure of 4 to 6 months is considerd a Neutral market, and 2 to 4 months is a Selelrs market.  And anything below 2 Months is a hot Sellers market.   So unlike the reports in the press of a depressed real estate market, the fact is, prices are selling fast at tody’s low prices.  For more information about Mission Viejo or Orange County real estate, please feel free to contact us at:  (949) 388-3396 or email us at:  Info@eVantageRE.com.  Also, if you would like to view all Mission Viejo Condos or single family Homes for sale online, without having to speak with a Realtor at this time,  just visit our website at:  eVantageRE.com

Aliso Viejo Home and Condo Sales

by vbindi on December 3, 2009

Currently there are 41 detached single family homes listed for sale in Aliso Viejo.  The properties range in price from a low of $399,000 for a 3 bedroom, 3 bath, 1,400 square foot home in the Hamptons tract, on up to $1,145,000 for a 5 bedroom, 5 bath, 3,722 square foot estate  located in the Kensington subdivision near Soka University.   Off these 41 active homes for sale, 19 of these properties are financially distressed sales of either Bank Owner REO foreclosures or Short Sales.

In the past 90 days, there have been 64 detached homes that have sold in Aliso Viejo ranging in price from $370,000 for a 3 bedroom, 2 bath, 1,300 square foot home in the California Reflections tract.  And the highest priced home was sold hoe was $1,098,000 for a 5 bedroom, 5bath, 3,885 square foot estate in the Vista Vallarta tract.  Of these 64 sales, 15 sales were distressed property sales, representing 23% of the total.

For attached Condominiums, there are now 64 condos active for sale in Aliso Viejo, CA.   This properties range in price from a low of $189,000 for a 1 bedroom, 1bath, 759 square foot unit in the Canyon Villas tract, up to $599,000 for a 3 bedroom, 3 bath, 2,200 square foot townhome in the Eagle Pointe subdivision.  Of these 64 active properties, 64%, or 41 condos are currently for sale that are either Bank Owned REO or Short Sales in Aliso Viejo.

In the past 3 months, there have been 133 Condos that have sold and closed escrow in Also Viejo.  These sold condo units range in price from $149,500 for a 1 bedroom, 1 bath, 636 square foot unit in the Seagate Colony tract.  Up to $635,00 fora 3 bedroom, 4 bath, 2,635 square foot, 3 level townhome in the City Walk subdivision of Aliso Viejo.  80 of these sales, representing 60% of the total, were financially distressed sales in the past 90 days in Alio Viejo.

Also, we have just added some new and useful webpages for various subdivisions to our website.  These webpages show the Subdivision details, along with posting every property currently active for sale in the Tract, as follows:  Hillcrest Homes,  Laguna Vista, Seacrest Heights, Seascape Villas, Applause Condos and Seacove Place Condos.

San Clemente Home Prices

by vbindi on September 3, 2009

Today, there are 311 detached single family homes listed for sale in San Clemente, Orange County, Ca.  The lowest priced detached home is listed at $349,900. It is a 3 bedroom, 2 bathroom, 1,685 square foot home located right on top of the golf course and featuring a peek-a-boo view of the ocean. The highest priced home is listed for $9,900,000 and this estate property comprises of a brand new 7 bedroom, 10 bathroom, 13,000 square foot estate located on a 37,750 sq foot lot in the Cotton Point Estates. The home offers an array of features including a 36 seat theater and a separate guest residence. The current median price for all homes Active for sale in San Clemente is $989,000.

There are 110 detached homes located in the city of San Clemente that are pending in escrow.  The lowest priced property is valued at $382,500. It is a charming 2 bedroom, 1 bath, 1040 square foot home built in 1946.  The highest priced property currently in escrow is valued at $2,500,000. This property offers 3,200 square feet of living space, 3 bedrooms and 3 bathrooms. It is located in the guard gated community of Cyprus Shore and boasts a marvelous panoramic ocean view. The median price of homes currently under contract in escrow is $699,000 in San Clemente.

In the past 90 days, there have been 151 detached properties that have sold in San Clemente.  The lowest sales price was $360,000 for a single story 2 bedroom, 1 bathroom, 1,050 square foot home built in 1964.  The highest priced property sold was a 5 bedroom, 4 bath, 4,500 square foot estate valued at $4,700,000. This property is located in the desirable gated community of Silver Oaks and features a large, lush yard and a panoramic canyon view.  The median home sales price is $700,000 and the average sales price in the city within the past 3 months was $845,264 for the past 3 months.   The average price per square foot was $336.41/SqFt, and the average days on market was 112 days.

Click on the following hyperlink, for more information about San Clemente Real Estate, or feel free to call us at: 949-388-3396

Mission Viejo Home Values

by vbindi on August 26, 2009

Today, there are 181 detached single family homes listed for sale in Mission Viejo, Orange County, Ca.  The lowest current detached home price is $360,000 for a 3 bedroom, 2 bathroom 1,123 square foot home offering a view of Saddleback Mountain. The highest priced home is listed for $2,995,000, which is a 5,500 square foot, 5 bedroom, 5 bathroom lakefront estate built in 1990 on Lake Mission Viejo. This property features a gorgeous view of the lake and a private dock right in the backyard. The current median price for all home Active for sale in Mission Viejo is $619,000.

There are 180 detached homes located in the city of Mission Viejo that are pending in escrow. The lowest priced property currently in escrow is valued at $209,900. It is a 2 bedroom, 1 bath, 1415 square foot home. The highest priced property currently in escrow is priced at $2,200,000. It is a 3,693 square foot lakefront estate on Lake Mission Viejo featuring 4 bedrooms and 4 bathrooms. This home has privacy plus as it is at the end of a cul-de-sac in the guard gated community of  Tres Vistas. The current median price for properties in escrow is $495,000.

In the past 90 days, there have been 192 detached properties that have sold and closed escrow in Mission Viejo. The lowest sales price for a detached property was $310,000 for a clean, upgraded 3 bedroom, 2 bathroom, 1,100 square foot home built in 1972, located just a short drive from the freeway and within walking distance to Colinas park. The highest priced property sold was a 4 bedroom + a loft, 4 bathroom, 3,316 square foot estate built in 1993. This home was priced at $910,000 and located on a cul de sac in the Anacapa community. This property features a rock pool and spa with a waterfall and a spectacular panoramic ocean view. The median home sales price is $510,000 and the average sales price in Mission Viejo within the past 3 months was $541,911. The average price per square foot was $275.59/SqFt. The average days on market was 66 days.

For more information about Mission Viejo Real Estate for sale, please feel free to call us at: 949-388-3396 , or email at: Info@eVantageRE.com or visit our website by clicking in the highlighted previous Link.

Ladera Ranch Home Prices

by vbindi on August 14, 2009

Today, there are 96 detached single family homes listed for sale in Ladera Ranch, Orange County, Ca.  The lowest current detached home price is $425,000 for a 3 bedroom, 3 bathroom 1,600 square foot property built in 2002 featuring many upgrades including granite counter tops, cabinets, wood flooring and plantation shutters. The highest priced home is a 7,000 square foot, 6 bedroom, 8 bathroom custom estate listed for $4,899,900. Built in 2006, this home features a separate home theater as well as both indoor and outdoor gourmet kitchens.  The current median price is $849,000.

Currently, there are 78 detached homes located in the city of Ladera Ranch that are pending in escrow. The lowest priced property currently in escrow is valued at $356,900. It is a very well maintained 3 bedroom, 2 1/2 bath, 1567 square foot home that features an upgraded kitchen with granite counter tops and it is well located close to freeway access, an array of shopping and entertainment.  The highest priced property currently in escrow in Ladera Ranch is listed at $2,999,000. It is a brand new 5 bedroom, 8 bathroom, 8,700 square foot custom home located in the prestigious community of Covenant Hills. This homes features include an elevator, 2000 bottle wine cellar and many high quality pgrades such as mahogany wood floors and marble based niches. The current median price for properties in escrow is $659,900.

There have been 78 detached properties that have sold in Ladera Ranch in the past 90 days. The lowest sales price for a detached property was $367,908 for a large, upgraded 3 bedroom, 3 bathroom, 1,750 square foot home built in 2004 offering beautiful new landscaping and a bonus room.  The highest priced property sold was a brand new 5 bedroom, 7 bathroom, 5,392 square foot estate located in Covenant Hills. This home was priced at $1,950,000. This property features a salt water pool and spa and a gourmet kitchen with top of the line appliances. The median home sales price is $679,900 and the average sales price in the city within the past 3 months was $699,674. The average price per square foot was $251/SqFt. The average days on market is 80 days.

For more information about Ladera Ranch Real Estate, please feel free to call us at: 949-388-3396

Dana Point Real Estate Prices

by vbindi on August 12, 2009

Today, there are 311 detached single family homes listed for sale in Dana Point, Orange County, Ca.  The lowest priced home is listed at $449,000, which is a 3 bedroom, 2 bathroom 1,312 square foot home that offers a covered patio with a fireplace where the Catalina island view can be enjoyed. The highest priced home is listed for $24,000,000.  This estate property comprises of  6,100 square foot of living area, with 5 bedrooms and 6 1/2 bathrooms located in the Strand at Headlands. This home features a dramatic infinity pool and spa with an underwater sound system and direct access to a private beach club. The current median price of Active lsiting in Dana Point is $1,200,000.

Currently, there are 43 detached homes located in the city of Dana Point that are pending in escrow.  The lowest priced property currently in escrow is valued at $380,000. It is an inviting 3 bedroom, 1 bath, 980 square foot cottage built in 1954 with an updated interior and an attached 2 car garage.  The highest priced property currently in escrow is priced at $5,900,000. This property features over 4,600 square feet of living space, 3 bedrooms and 5 bathrooms. This home is located in the Niguel Shores community. It is an entertainers dream with awesome features that include a 1,000 bottle wine cellar and a spa with a waterfall.  The current median price for properties in escrow in Dana Point is $779,000.

In the past 90 days, there have been 78 detached properties that have sold in Dana Point.  The lowest sales price was $415,000 for a unique 3 bedroom, 3 bathroom, 2,000 square foot home built in 1963, located in Capistrano Beach with a beautiful indoor atrium and vaulted ceilings.  The highest priced property sold was a single story, 4 bedroom, 5 bath, 4,500 square foot estate priced at $3,400,000. This property is located in the Monarch Bay Terrace community. This home features dual master suites, a private saltwater pool and spa and an impressive panoramic ocean view. The median home sales price is $799,900 and the average sales price in the city within the past 3 months was $964,992. The average price per square foot was $417/SqFt. The average days on market was 99 days.

For more information about Dana Point Real Estate, please feel free to call us at: 949-388-3396

Aliso Viejo Home Prices

by vbindi on August 11, 2009

Today, there are 46 detached single family homes listed for sale in Aliso Viejo, Orange County, Ca. The lowest priced home is valued at $399,900. It is a 3 bedroom, 2 bathroom, 1,400 square foot house, located in the Hamptons subdivision. The highest priced home is $1,149,000 for a 4 bedroom, 5 bath, 3,737 square foot estate built in 2008, featuring view of the golf course and city lights. The current median price is $457,472.

There are 66 detached homes located in the city of Aliso Viejo that are now pending in escrow. The lowest priced property currently in escrow is valued at $339,000. It is a charming 2 bedroom + loft, 3 bathroom, 1,100 square foot home built in 1996. This property is conveniently located directly across the street from an elementary school. The highest priced property currently in escrow is priced at $1,250,000. It is a 3,400 square foot, 5 bedroom, 3 bathroom estate located on a cul-de-sac, offering a fully equipped entertainers backyard and a stunning panoramic view. The median price of homes currently in escrow is $650,000.

In the past 90 days, there have been 80 detached properties that have sold and closed escrow in Aliso Viejo. The lowest sales price for a detached property was $340,000 for an attractive 3 bedroom, 3 bath, 1,301 square foot home built in 1998. The highest priced property sold was a 5 bedroom, 5 bath, 3,757 square foot estate located in the Silver Oaks gated community. This home was valued at $1,135,000 and its features included a large, lush yard and a breathtaking canyon view from virtually every room. The median home price is $538,000 and the average sales price in the past 3 months was $566,923. The average price per square foot was $281/SqFt. The average days on market was 65 days.

For more information about Aliso Viejo Real Estate,  please feel free to call us at: 949-388-3396

Condo Prices Rising in Orange County – 2009′

by vbindi on July 16, 2009

This is not a mis-print.  Condo prices have actually gone up about 15% in the past 7 months in south Orange County Ca.    I know it sounds hard to believe in the mist of the the severe recession and the drastic real estate downturn that started back in the Spring of 2006′…  so let me explain.

First some background…. eVantage Real Estate has been collecting statistics for the south Orange County residential real estate since July of 2002′ on a weekly basis. We’ve been charting Months of Inventory, Active vs Pending and Price per Square Foot using our own proprietary indicators which are more time responsive and accurate compared to what is published by the traditional sources.(ie: Major Banks, Title Co’s, News Periodicals).  Most of the major media outlets us 3 to 6 month averages of the prices of homes sold.  Two big problems with this technique.  One, it is delayed in time by about 6 months.  Two, if  the buying habits of the local public changes, and you use average prices of homes sold, then you will produce mis-leading data.  In other words, currently there are many more lower priced homes and condos selling right now to first time homebuyers and investors, then there are Million dollar homes being sold, compared to the sales habits of 2 years ago.  Here is a simple example of what I am talking about… If you Average together 10 Condo sales at $250,000 each,  with one home sale of $2 Million, and compare that to 7 Condo Sales at $350,000 , and 4 homes sales at $2.5 Million from 2 years ago, you will get erroneous numbers.  The Average will tell you that home prices have dropped by 63%… but using this example, Condo prices have only dropped 28%… Gross example, but useful to illustrate the point that this is what is occurring in the south Orange County marketplace.

Below is our Graph of the Months of Inventory of homes in 5 different prices range.  The high end of the market above $1Million, is still very soft at about 12 months of Inventory (a soft Buyers market)… but the low end of the market is a very Hot Sellers market at less then 1 Months of Inventory.  There are many more $200,000 Condos that are selling now, and not very many $2Million estates are selling, as compared to 2 years ago… and this change of buying habit will greatly effect the Average Price of Homes Sold.

So how does one better represent the actual price values of homes ?… Back in July of 2002′ we devised a rolling average Price per Square Foot indicator – one for Condos and another for detached Single Family Homes.  These indicators are much more time sensitive, and more importantly, are not affected by the changing buying habits of the local marketplace.

The Graph below shows our Price per Square Foot indicator.   As we have estimated some months ago, the strong demand at the lower end would actually result in a rise in prices in the near future… and sure enough it has… As can be seen in this graph, the Condo market has now seen a jump in actual sales prices of about 10 to 20% in the past 7 months ….   Albeit, many of these sales have been Bank foreclosed REO’s and Short Sales… but the strong demand for this price level of product, coupled with the relatively low supply, has driven up sales prices for lower priced Condos in the past 7 months.  There is simply not enough inventory to fill the demand, so buyers have been bidding up prices in the low end of the pricing range…  In addition, the detached homes Price per Square Foot indicator has be leveling off now for about 5 months..

The Million dollar question is – does this signal the long term bottom, or is this a short term reaction, with more downside to go… Well I wish I knew the exact answer… My educated guess is this super hot demand will subside somewhat  in the future, and Inventory will rise somewhat.  I think prices may hold at these levels, or possibly drip down a bit more, and then a long term bottoming process will set in before prices begin to rise long term…

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