the GREEN sheet | Jan/Feb 2023

Happy New Year everyone and thank you for making 2022 another successful year for Echelberger Group. 2022 was such an interesting year in Talega real estate as we saw one of the strangest market transitions that I have experienced in 28 years of selling real estate. As interest rates started to climb, we saw the influx of buyers from the Bay Area and LA dwindle and demand soften. 2021 had 253 closings in Talega compared to the 136 closings in 2022. However, we saw the average price in Talega increase from $1,401,468 ($468 per SF) in 2021 to $1,683,498 ($572 per SF) in 2022.

The lionshare of movement in Talega happened within the first 6 months of 2022 as the market was the hottest the US had ever seen. The last six months we saw homes taking longer to sell and price points at less than the first 6 months. The average days on market for 2021 was 11 days compared to 19 days for 2022, which is still unbelievably fast for selling a home. When comparing the two halves of 2022, the second half was over three times longer than the first half. Typically, when we see a market correct itself, we see an inventory balloon which causes more competition and pricing to drop dramatically. Talega’s inventory never ballooned and only had 6-14 homes on the market at any given month for 2022. Between 2003-2019, Talega would average anywhere from 35-70 homes on the market, so we are still a long way off from normal inventory as we finished 2022 with only 10 Active listings on the market.

For those that have a mortgage on their home, they are likely now locked in with a rate under 3.5% which makes the idea of moving less interesting unless they have a real need. Therefore, I expect inventory to remain low for 2023 as this market settles out and stabilizes. Overall, the Talega homes compared to other communities still show exceptional value and are highly desired by buyers looking to find a home. I want to thank you again for making Talega such a great community and I am looking forward to the opportunities that 2023 will bring to everyone.

Echelberger Group provides the expertise and resources necessary to make it easier for its clients. More than 20 years of experience in Talega and 52 years living in San Clemente, Doug and his team have an edge in local knowledge and connections. Echelberger Group provides a comprehensive range of services, from industry-leading technology—backed by its partnership with Pacific Sotheby's International Realty—and custom marketing strategies to regular updates and prompt communication that makes transactions efficient and stress-free. For more information, visit www.echelberger.com or call/text Doug at 949-463-0400.

FEATURED RESIDENCE

38 Via Alcamo

Panoramic Ocean Views

Perched at the top of the coastal hills in Talega of San Clemente, this stunning residence offers a rare combination of 180-degree panoramic ocean views, extensive privacy, authentically detailed architecture and ideal weather. One of the larger homesites in the Alta collection at 10,628 sq ft, this cul-de-sac location uniquely offers one of the best ocean and valley views in Talega. Guests are greeted by a secure gated courtyard with a fireplace and fountain, giving a tranquil and peaceful setting where your ocean view begins, and privacy is enjoyed. The feeling of total privacy is continued into the backyard, which was carefully designed with several intimate destination points to maximize unobstructed ocean and canyon views. Enjoy the coastal views from a saltwater spool inspired by the Montage Resort that sits adjacent to a romantic fireplace, a covered entertainment patio, another open-air fireplace, a fire pit for entertaining, manicured gardens and a large bar and serving area equipped with a built in BBQ and refrigerator. Approximately 5,356 square feet, this generously sized home is light and open, with numerous sets of French doors and an abundance of windows enhancing indoor and outdoor coastal living. Six bedrooms, each with its own ensuite bath designed with marble or stone, include a large main-level suite perfect for guests or in-laws, and a detached casita with an ensuite bath. The primary ocean view suite awaits you with its own private view deck, fireplace, sitting room, oversized custom walk-in closet, soaking tub, dual-head shower, and separate marble vanities. Additional upgrades include audio, security, multi zone HVAC, plantation shutters, crown molding & upgraded millwork, and a garage with extensive built-ins and epoxy floor.

205 CALLE CAMPANERO SOLD IN 5 DAYS

26 CALLE GAULTERIA SOLD IN 3 DAYS

active 1 | 38 Via Alcamo Alta $3,795,000 6 6.5 5,356 2 | 18 Via Alcamo Alta $3,398,000 5 5.5 4,850

in escrow 3 | 26 Calle Akelia Sabella $1,295,000 4 2.5 2,627

26 Calle Gaulteria Mirador $3,250,000 6 6.5 5,025 * 12 Corte Vizcaya Vizcaya $3,000,000 5 5.5 5,539 * 12 Calle Gaulteria Mirador $2,815,000 5 5.5 4,631 ** 36 Via Belleza Miraleste $1,905,000 5 3 2,992 * 13 Via Jacobea Catania $1,723,500 4 3 2,941 * 308 Via Los Tilos San Rafael $1,635,000 5 4.5 3,536 * 32 Via Armilla Vittoria $1,537,500 4 2.5 2,857 * 40 Avenida Cristal Carmel $1,350,000 3 2 2,066 * 16 Calle Frutas Escala $1,325,000 3 2.5 2,342 * 10 Avenida Cristal Carmel $1,079,700 3 2 2,066 * 22 Corte Loarre Verano $1,015,000 3 2.5 1,840 * 12 Calle Merecida Carmel $960,000 3 3 2,560 * 24 Paseo Verde Santalana $885,000 3 2.5 1,634 *** 205 Calle Campanero Alassio $710,000 2 2.5 1,468 * 4 Paseo Del Rey Alassio $704,000 2 2.5 1,232 ***

call us today, for a COMPLIMENTARY home evaluation from talega's most experienced real estate agent DOUG ECHELBERGER 949.498.7711 | doug@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 .

TRACT/STREET

Alassio

8 Paseo Rosa SOLD $775,000 $528 1,468 3/3 2 10/5/22

Carmel

40 Avenida Cristal SOLD $1,350,000 $653 2,066 3/2 2 12/6/22

12 Calle Merecida SOLD $960,000 $375 2,560 3/3 2 10/13/22

Santalana

134 Paseo Vista Pending $849,995 $486 1,748 3/3 2 (A)

162 Paseo Vista SOLD $940,000 $529 1,776 3/3 2 11/4/22

Trinidad

27 Avenida Brio SOLD $699,000 $504 1,388 2/2 2 11/30/22

Verano

12 Via Carmona Pending $975,000 $518 1,881 3/3 2 (B)

25 Corte Javier SOLD $895,000 $486 1,840 3/3 2 -- 11/17/22

"Doug and Jill have been amazing to work with! We have bought and sold a lot of houses over the years, and EG is the first Real Estate Group that not only met our expectations, but exceeded them. The Echelberger Group is by far the best Real Estate company we have ever dealth with. They are so attentive and thoughtful, they make you think you are their only client.” - Rusty R.

Alora No Activity

Alta

38 Via Alcamo Active $3,795,000 $709 5,356 6/7 2 10,628 (A) 18 Via Alcamo Active $3,398,000 $701 4,850 5/6 4 9,610 (A) 47 Via Alcamo Active $2,680,000 $500 5,356 6/7 2 9,237 (B) 12 Via Alcamo SOLD $3,350,000 $632 5,303 5/6 3 11,690 10/26/22

Amalfi No Activity

Bella Vista No Activity

Cantabria

24 Corte Vizcaya Active $3,795,000 $674 5,633 5/6 3 20,585 (C) 29 Calle De La Luna Active $2,199,500 $584 3,767 5/5 3 11,466 (D)

Caprizi

23 Via Alonso Active $1,549,000 $600 2,583 4/3 2 7,001 (E)

Careyes No Activity

Carillon No Activity Catania No Activity

Cazadero

32 Corte El Brazo SOLD $2,300,000 $563 4,082 5/5 3 6,996 11/14/22 41 Calle Loyola SOLD $1,900,000 $494 3,849 5/5 3 6,086 10/15/22

SINGLE-FAMILY HOMES

Farralon Ridge

No Activity

Lucia No Activity

Mirador

30 Via Divertirse Active $2,995,000 $576 5,202 5/7 3 11,625 (A) 44 Via Divertirse Pending $2,650,000 $563 4,706 5/6 4 9,676 (B)

Miraleste No Activity

Montellano No Activity Monterey No Activity

Pacifica Summit No Activity

Pacifica Talega No Activity

Portofino No Activity

Portomarin

38 Via Regalo SOLD $1,399,888 $469 2,987 5/3 2 5,489 11/15/22

Ravenna

25 Via Nerisa SOLD $2,225,000 $513 4,335 4/5 3 10,252 12/1/22 "Doug and his team were fabulous. I can't recommend them enough. In this tough market, you need an agent you can trust. Doug is very knowledgeable and professional. He kept me updated every step of the way. Thank you Doug, Sydney and Carissa!" - Michelle A.

SINGLE-FAMILY HOMES

Sabella

26 Calle Akelia

Pending $1,295,000 $493 2,627 4/3 2 3,804 (A)

San Lucar

13 Via Abajar Active $1,499,000 $612 2,448 4/3 2 4,758 (B)

19 Via Destino SOLD $1,438,000 $457 3,147 4/4 3 6,520 10/28/22

San Rafael No Activity

Sansol

6 Calle Saltamontes Active $1,654,000 $517 3,200 5/4 2 5,483 (B)

Seaside No Activity

Solana

16 Calle Boveda SOLD $1,145,000 $545 2,100 4/3 2 4,092 12/16/22

Stella Mare

40 Via Timon SOLD $1,551,000 $449 3,453 4/4 2 7,154 10/27/22

Terra

Linda

102 Via Malaga Pending $1,698,000 $628 2,702 5/3 3 8,765 (D)

100 Plaza Via Sol SOLD $1,900,000 $641 2,963 6/3 2 5,898 10/17/22

102 Plaza Via Sol SOLD $1,450,000 $502 2,888 4/3 3 10,026 11/14/22

Vittoria

32 Via Armilla SOLD $1,537,500 $538 2,857 4/3 3 6,164 11/17/22

Vizcaya No Activity

SENIOR 55 & OLDER

Sandbridge

9 Corte Tallista Active $1,590,000 $560 2,841 3/2 2 7,768 (A) 7 Corte Sevilla Pending $1,625,000 $602 2,699 3/2 2 7,814 (B) 29 Camino Lienzo SOLD $1,730,000 $721 2,401 2/2 2 6,620 12/16/22

Seagarden No activity Waterleaf

40 Camino Del Prado SOLD $1,548,800 $606 2,554 2/2 2 8,962 10/14/22 1 Camino Alenza SOLD $1,280,000 $623 2,055 2/2 2 5,199 12/16/22

Wavecrest No activity Single Family

DOM

PSF

Sold $ PSF COMING SOON (0) - - -ACTIVE (10) $2,515,450 4,124 54 $603 PENDING SALE (4) $1,643,000 3,587 46 $546 SOLD (14) $1,849,335 3,212 50 $576 $1,768,228 $551 Condo/Townhouse

DOM

$

COMING SOON (0) - - -ACTIVE (0) - - -PENDING SALE (2) $912,496 1,815 46 $502 SOLD (6) $931,333 1,850 44 $503 $936,500 $506 *Approximate

The Green Sheet is based on information from the Association of REALTORS®/Multiple Listing Service as of 12.22.22 and/or other sources. The Talega Green Sheet and MLS data is deemed reliable, but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The properties listed above are not all Pacific Sotheby's International Realty and include listings from other brokers. If you notice any incorrect information or a property that is not listed, please call my office immediately at 949.498.7711. To preserve space, old sales before 10.1.2022 have been eliminated. If you would like the name, address, and phone number of the firm representing a specific property listed above, please email info@echelberger.com.

YOUR TALEGA MARKET REPORT FOR HOME VALUES IN DECEMBER

ORANGE COUNTY MARKET SUMMARY

• The active listing inventory in the past couple of weeks decreased by 104 homes, down 3%, and now sits at 3,182, its lowest level since the start of June. In November, there were 32% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 718 less. Last year, there were 1,363 homes on the market, 1,819 fewer homes, or 57% less. The 3-year average prior to COVID (2017 to 2019) was 4,988, or 57% more.

• Demand, the number of pending sales over the prior month, plunged by 79 pending sales in the past two weeks, down 7%, and now totals 1,133, its lowest level since April 2020, the start of the pandemic. Last year, there were 1,944 pending sales, 72% more than today. The 3-year average prior to COVID (2017 to 2019) was 1,774, or 57% more.

• With demand dropping faster than supply, the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, increased from 81 to 84 days in the past couple of weeks. It was 21 days last year, much stronger than today.

• For homes priced below $750,000, the Expected Market Time remained unchanged at 62 days. This range represents 23% of the active inventory and 31% of demand.

• For homes priced between $750,000 and $1 million, the Expected Market Time increased from 68 to 71 days. This range represents 22% of the active inventory and 26% of demand.

• For homes priced between $1 million to $1.25 million, the Expected Market Time increased from 68 to 80 days. This range represents 12% of the active inventory and 13% of demand.

• For homes priced between $1.25 million to $1.5 million, the Expected Market Time increased from 73 to 81 days. This range represents 10% of the active inventory and 10% of demand.

• For homes priced between $1.5 million to $2 million, the Expected Market Time decreased from 99 to 95 days. This range represents 11% of the active inventory and 10% of demand.

• For homes priced between $2 million and $4 million, the Expected Market Time in the past two weeks decreased from 144 to 138 days. For homes priced between $4 million and $8 million, the Expected Market Time decreased from 527 to 503 days. For homes priced above $8 million, the Expected Market Time decreased from 420 to 386 days.

• The luxury end, all homes above $2 million, accounts for 24% of the inventory and 10% of demand.

• Distressed homes, both short sales and foreclosures combined, made up only 0.4% of all listings and 0.3% of demand. There are only 7 foreclosures and 5 short sales available to purchase today in all of Orange County, 12 total distressed homes on the active market, up 4 from two weeks ago. Last year there were 8 total distressed homes on the market, similar to today.

• There were 1,427 closed residential resales in November, 44% less than November 2021’s 2,570 closed sales. November marked a 17% decrease compared to October 2022. The sales to list price ratio was 97.5% for all of Orange County. There were no foreclosures and no short sales in November. That means that 100% of all sales were good ol’ fashioned sellers with equity.

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 .

for more information on current oc housing market, visit our market reports at

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