the GREEN Sheet | Spring 2024

THE GREEN SHEET

DOUG ECHELBERGER HAS A PROVEN TRACK RECORD IN TALEGA REAL ESTATE.

“Doug is a long-time expert on San Clemente real estate and it shows. He and his team are very knowledgeable and responsive. Doug knows the local market, the trends and all the details to professionally guide one through a successful transaction. This was all evident and part of our great experience working with him and his team. He more than successfully met my expectation of an agent that can take on all the responsibilities possible during the process and quickly address challenges as they come up. He operates one of the larger real estate teams in the area, but I never felt like just another client - I had his personal attention; seemed he was only working for me. He and his team’s support is tremendous; they were always available (even after hours)-phones answered, texts responded to and emails promptly replied. They are professional, friendly and great to work with. Highly recommend Doug as a trusted real estate professional.” -

Robert S.

MESSAGE FROM OUR FOUNDER

The real estate market in 2024 has been marked by notable activity and trends. With 48 properties listed so far this year and 13 currently in escrow, the community has seen a total of 17 closed sales. The listings comprise of 41 single family homes and 7 condos. Single family homes have commanded an average selling price of $2,574,125, translating to $680 per square foot, while condos have sold for an average price of $1,113,800 at $569 per square foot. The numbers on the condos seem high for an average, this is because we have mostly seen larger properties in Carmel and Seagarden (the Gallery) close escrow. Inventory has been fairly nonexistent in the condos under $900,000 in Talega. Inventory levels have been slow to rise, contributing to sustained demand within Talega. The market experienced a resurgence in activity earlier in the year as interest rates began to decrease, following a relatively slower period in the latter part of 2023. Multiple offer situations have become more prevalent during the spring market, with stable pricing trends showing a slight upward trajectory due to limited supply. Looking ahead to the summer, the trajectory of interest rates will continue to play a significant role in shaping buyer demand. While market activity typically stabilizes as the school year lets out in June, the potential for further interest rate reductions could fuel a summer market to reach new highs. Talega’s real estate landscape remains dynamic, offering opportunities for both buyers and sellers as we navigate the evolving market conditions.

For over five decades, I’ve called San Clemente home, witnessing its transformation firsthand. Talega, once just rolling hills where cows freely roamed, represented the outskirts of our city, marked by the boundary of San Clemente High School. Today, it stands as a vibrant and flourishing community, where I’ve not only found my livelihood but also built a fulfilling career. For the past 24 years, I’ve dedicated myself to facilitating real estate transactions within this evolving landscape, having successfully overseen over 900 deals within the Talega community alone.

What drives my passion for real estate isn’t merely the business aspect; it’s the opportunity to assist homeowners in navigating one of the most significant transactions of their lives. Whether it’s guiding them through the sale of their cherished family home or facilitating the acquisition of their dream property, I find profound fulfillment in being a trusted advisor throughout the complex process.

To the residents of Talega, I extend my deepest gratitude. It’s your trust and confidence in my expertise that have enabled me to pursue my passion and contribute to the growth and prosperity of our community. Thank you for allowing me the privilege of being a part of your real estate journey, and here’s to many more years of shared success and partnership.

Doug Echelberger, Founder

29 VIA LAMPARA FEATURED RESIDENCE

Just Listed

29 Via Lampara • Tract: Alora

4 Bed | 4.5 Bath | 3,989 Sf | $2,950,000

From its elevated location in the preferred residential enclave of Alora at Talega in San Clemente, this luxurious home welcomes some of the community’s finest views. The shimmering Pacific Ocean, twinkling city lights and beautiful hills enchant from the backyard, indoor living spaces, and a large deck off the second-level primary suite. Located on a cul-de-sac, the generous design of approximately 3,989 square feet is distinguished by four ensuite bedrooms including a main-floor suite, four- and one-half baths, a loft with covered balcony, and a first-floor home office. Oriented to maximize enjoyment of the views, grounds measure about 6,580 square feet. The backyard features a pool, spa, and a fire pit with built-in seating.

29ViaLampara.com

TALEGA RESIDENCES

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15

SENIOR 55 & OLDER

Home Values in March

(A): Compass (B): First Team Real Estate (C): Surterre Properties Inc (D): Douglas Elliman of California (E): Coldwell Banker Realty (F): Luxre Realty, Inc (G): Keller Williams OC Coastal Realty

Home Values in March

SINGLE-FAMILY HOMES

Home Values in March

(A): Coldwell Banker Realty (B): Conrad Realtors Inc (C): Compass (D): Keller Williams Realty Irvine (E): Coldwell Banker Realty (F): Berkshire Hathaway HomeService (G): HomeSmart, Evergreen Realty (H): DiMarco, Realtors

OC MARKET UPDATE

01 The active listing inventory in the past couple of weeks increased by 92 homes, up 5%, and now sits at 2,084. It is still the second-lowest mid-February reading since tracking began in 2004, only behind 2022. In February, 38% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,178 less. 199 more sellers came on the market this February compared to 2023. Last year, there were 2,168 homes on the market, 84 more homes, or 4% higher. The 3-year average before COVID (2017 to 2019) was 5,286, or 154% extra, more than double.

02 Demand, the number of pending sales over the prior month, increased by 62 pending sales in the past two weeks, up 4%, and now totals 1,538, the lowest mid-March reading since tracking began. Last year, there were 1,567 pending sales, 2% more than today. The 3-year average before COVID (2017 to 2019) was 2,517, or 64% more.

03 With supply rising faster than demand, the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, increased from 40 to 41 days in the past couple of weeks. It was 42 days last year, similar to today. The 3-year average before COVID (2017 to 2019) was 63 days, slower than today.

04 The Expected Market Time for homes priced below $750,000 decreased from 35 to 31 days. This range represents 20% of the active inventory and 26% of demand.

05 The Expected Market Time for homes priced between $750,000 and $1 million increased from 22 to 27 days. This range represents 14% of the active inventory and 20% of demand.

06 The Expected Market Time for homes priced between $1 million and $1.25 million remained unchanged at 29 days. This range represents 10% of the active inventory and 14% of demand.

07 The Expected Market Time for homes priced between $1.25 million and $1.5 million decreased from 38 to 33 days. This range represents 9% of the active inventory and 12% of demand.

08 The Expected Market Time for homes priced between $1.5 million and $2 million decreased from 39 to 35 days. This range represents 11% of the active inventory and 13% of demand.

09 In the past two weeks, the expected market time for homes priced between $2 million and $4 million increased from 58 to 66 days. For homes priced between $4 million and $6 million, the Expected Market Time increased from 97 to 118 days. For homes priced above $6 million, the Expected Market Time increased from 269 to 341 days.

10 The luxury end, all homes above $2 million, account for 36% of the inventory and 15% of demand.

11 Distressed homes, both short sales and foreclosures combined, comprised only 0.2% of all listings and 0.1% of demand. Only five foreclosures and no short sales are available today in Orange County, with five total distressed homes on the active market, unchanged from two weeks ago. Last year, ten distressed homes were on the market, similar to today.

12 There were 1,425 closed residential resales in February, up 12% from February 2023’s 1,270 and 21% from January 2024. The sales-to-list price ratio was 99.4% for Orange County. Foreclosures accounted for 0.4% of all closed sales, and there were no closed short sales. That means that 99.6% of all sales were good ol’ fashioned sellers with equity.

For more information on current OC housing market, visit our market reports on our website.

echelberger.com

We respect your time, and value your business. We know you could go anywhere for your real estate needs, and appreciate having the opportunity to serve you the best way we can. For more information, or to be the first to learn about pocket listings, open houses, market reports, and local events visit us online or call 949.498.7711

FROM THE BLOG

Market Report

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While popular destinations may require navigating through crowds and obtaining permits, the state boasts a plethora of lesser-known public lands that showcase its diverse natural beauty without the same level of congestion.

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