the GREEN Sheet | June 2021 by Echelberger Group

J U N E 2 0 2 1

t he

GREEN sheet

TA LE GA’S RED-HOT R E A L E STAT E M A RK ET

MAKING SENSE OF PRICES IN TODAY'S CRAZY MARKET After 27 years of selling real estate, I can confirm that the market we are currently in is definitely one for the record books. I have seen a lot of uncommon situations and deals take place over the past nine months. I’m not alone, as this market has prompted a lot of questions directed to me about why a home sold for so little or so much. A homeowner’s motivation, an agent’s market knowledge, financing and time frames are all part of a deal and they are not always reflected in a sales price. Consumers do not always have a clear understanding as to why a home sold for the price that it did because deal terms are not typically disclosed. To help you make the most informed choices possible, I want to give you some recent examples of deals that alter the closing data and can be game changers. 1. The buyer and seller agree to a price of $2.2 million. The seller would like to rent the property back for six months at a rate of $12K a month. Rather than paying rent, they agree to drop the price by $72,000 and the deal closes for $2,128,000. 2. In this example, the buyer and seller agree to a price of $4.5 million, including furniture. The buyer and seller agree to reduce the sale price by $600,000 for the furnishings, which are then paid for in cash outside of escrow. The deal closes for $3,900,000. 3. The seller lists their property for $2.5 million with an out-of-area discount agent. The seller and agent are not aware of how competitive their neighborhood’s micro-market is and don’t know that neighbors have been receiving offmarket offers closer to $3 million. The seller receives a full-price offer and accepts within hours of listing, upsetting neighbors who know that the true market value was hundreds of thousands higher. 4. A property is listed for $900,000, which is $200,000 higher than its nearest comp. Strong non-contingent offers are received just below the asking price, but one contingent buyer offers $990,000. The seller takes the risk with the contingency buyer and accepts. The buyer’s offer was all cash, once their current home sold. As a result, no appraisal was needed and the deal closed at $990,000. These are just some examples, and there are many more factors that can alter a sales price. On the surface, all of these examples could cause the mis-pricing of a home, an appraisal to fail, or money left on the table. They absolutely throw off automated online evaluations provided by websites including Zillow and Redfin, as their algorithms cannot take these ever-changing factors into account. If the agent or homeowner doesn’t have this intel, they could end up mispricing or having the wrong perception of value on their home. During the past six months, 160 homes have closed escrow in Talega, with 104 of them sold in fewer than seven days. This market is moving at a rapid pace and quick, uneducated decisions can cost equity, cause frustration, or confuse a buyer. If you have any questions about the Talega market or your neighborhood’s micro-market, please feel free to reach out to me. Echelberger Group provides the expertise and resources necessary to make it easier for its clients. More than 20 years of experience has given the team 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 949.498.7711.

FEATURED RESIDENCE

45 Via Conocido

5 bed | 5.5 bath | 6,246 sq ft | 12,788 sq ft lot

Live without compromise at this elegantly sophisticated view home in Talega of San Clemente’s gated Lucia enclave. An elevated location with no home directly behind it affords panoramic views of the ocean, canyons, hills and evening lights. Formal land and hardscaping, complete with fountains, towering Italian cypress trees and colorful gardens, complement the residence’s Tuscan-influenced architecture. French doors and multiple Juliet balconies open nearly every living space to the outdoors, including five ensuite bedrooms with walk-in closets. Noted amenities are led by five-and-one-half baths, a main-floor suite with patio access, a library, bonus room with built-in entertainment center, and a great room with fireplace and adjoining media room. The highly upgraded move-in-ready residence of approximately 6,246 square feet elevates style to new heights in a phenomenal kitchen with oversized island, circular breakfast nook, handsome wood cabinets, a butler’s pantry with secondary ovens and full-sized refrigerator, two walk-in pantries, granite countertops, a restaurant-style range, wine cooler, dual dishwashers and a built-in refrigerator. Offering space for a future pool and spa, grounds extend about 12,788 square feet and host a spacious rear lawn, stone patios, and a built-in BBQ island with bar seating. Limited to just 33 residences, the exclusive Lucia collection features two cul-de-sac streets and is centered around a private park where residents relax and socialize. Talega’s 18-hole championship golf course, miles of trails, first-class swim club, beautiful parks, bustling shopping centers and top-rated schools are nearby, and San Clemente’s beaches and pier are only minutes away.

Custom-Caliber Luxury

www. 4 5Vi aC o n o c i d o.c o m

TALEGA RESIDENCES Dou g E ch e l b er ger h a s a PR O VEN track reco rd in T alega Real E sta te 20 VIA CONOCID O SOLD IN 1 DAY

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1 4 7 CA LLE MATTIS S O LD IN 1 DAY

214 VIA M ARFINO SOLD IN 11 DAYS

3 3 V IA C R ISTOBA L S O LD IN 1 1 DAYS

3 1 VIA ALCAM O SOLD IN 23 DAYS

6 7 CA LLE CA R EYES J UST SOLD

53 VIA CARTAM A JUST SOLD

TALEGA RESIDENCES Rep r es e n t ed by D o ug Echelberger ADDRESS

act i ve 2 0 2 1 YTD

c losi n gs

1 | 45 Via Conocido

TRACT

Lucia

20 Via Conocido Careyes 36 Via Alcamo Alta 1 Calle Careyes Careyes 41 Calle Vista Del Sol Montellano 44 Calle Vista Del Sol Montellano 16 Via Conocido Lucia 67 Calle Careyes Careyes 31 Via Alcamo Alta 18 Calle Pacifica Pacifica Summit 47 Calle Mattis Carillon 45 Via Cartama Catania 308 Camino Bravado Pacifica Talega 53 Via Cartama Catania 19 Via Abrazar Miraleste 6 Calle Portofino Portofino 214 Via Marfino San Rafael 33 Via Cristobal Sabella 414 Camino Flora Vista Farralon Ridge 36 Avenida Cristal Carmel 11 Calle Merecida Carmel 26 Corte Pinturas Seagarden 66 Paseo Del Rey Alassio 48 Paseo Del Rey Alassio * Represented Seller

PRICE

BED

BATH

SQFT

$2,800,000

5.5

6,246

$2,800,000 $2,540,000 $2,350,000 $2,299,000 $2,235,000 $2,200,000 $2,180,000 $2,160,000 $1,945,000 $1,925,000 $1,675,000 $1,575,000 $1,515,000 $1,485,000 $1,480,000 $1,450,000 $1,225,000 $950,000 $820,000 $799,000 $750,000 $615,000 $610,000

5 5 5 5 5 6 5 5 4 5 4 6 5 5 5 4 4 4 3 3 2 3 3

5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 4.5 5.5 3.5 5.5 4 3.5 4 3.5 2.5 2.5 2 3 2.5 2.5 2.5

6,055 ** 4,752 *** 5,290 * 4,774 * 4,686 * 6,070 * 4,689 * 5,068 * 4,220 * 3,942 * 3,497 * 3,866 * 3,497 * 3,338 ** 3,042 * 3,140 *** 2,300 * 2,414 * 2,050 ** 2,358 *** 2,053 *** 1,468 ** 1,468 *

** Represented Buyer

*** Represented Seller and Buyer

A Review From One Of Your Talega Neighbors “We chose Doug and his team because of the reputation they have from both buyers and sellers in our area. It was very important to us to work with a team that had a great knowledge of the market as well as a reputation for being at the top of their game, they were both. We did not want a broker to come in and give us an unrealistic selling price to entice us to list with them, but an honest appraisal of what our house should sell for and a best guesstimate as to the amount of time it should take to sell. They hit the mark on both! Doug and the team communicated with us every step of the way in a very clear and timely fashion and made the overall experience very easy. We would highly recommend them to anyone buying or selling a property.” - Ken S.

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 vi si t us onl i ne or c al l 949.498.7711 .

4 | w w w.E chel berger. co m

call us today, for a COMPLIMENTARY home evaluation from talega's most experienced real estate agent

the

sheet

YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N A PR I L

TOWNHOMES TRACT/STREET

STATUS

PRICE

PRICE/SQ FT

SQ FT*

BED/BATH

GARAGE

LOT SIZE*

COE

128 Paseo Vista

SOLD

$740,000

$417

1,776

3/3

4/29/21

1 Paseo Luna

SOLD

$720,000

$432

1,668

3/3

5/6/21

5 Paseo Luna

SOLD

$685,000

$462

1,484

3/4

5/21/21

104 Calle Campanero

SOLD

$680,000

$408

1,668

3/3

3/23/21

136 Paseo Vista

SOLD

$660,000

$508

1,298

3/2

3/26/21

57 Paseo Verde

SOLD

$645,000

$387

1,668

3/3

4/2/21

66 Paseo Del Rey

SOLD

$615,000

$419

1,468

3/3

3/31/21

48 Paseo Del Rey

SOLD

$610,000

$416

1,468

3/3

3/3/21

22 Paseo Del Rey

SOLD

$585,000

$393

1,487

2/2

5/14/21

60 Paseo Del Rey

SOLD

$545,000

$442

1,232

2/3

3/16/21

Visit www.TalegaGreenSheet.com

Active

$899,990

$507

1,776

3/3

72 Paseo Verde

SOLD

$760,000

$426

1,786

3/3

Pending

$640,000

$399

1,606

3/3

SOLD

$625,000

$450

1,388

2/2

Visit www.TalegaGreenSheet.com

Active

$605,000

$448

1,350

2/2

85 Via Cartaya

SOLD

$737,500

$392

1,881

3/3

4/30/21

22 Via Carmona

SOLD

$695,000

$369

1,881

3/3

4/30/21

23 Corte Javier

SOLD

$576,212

$427

1,351

2/2

4/30/21

Alassio

Carmel No Activity

Santalana

5/4/21

Trinidad Visit www.TalegaGreenSheet.com 35 Camino Celeste

4/30/21

5 | w ww.E che l b erg er.c o m

Verano

"Doug recently sold our condo, and we couldn’t have been happier with him and his team’s professionalism and level of service. Doug always kept us informed throughout the process and calmly provided us suggestions during key decision points. I highly recommend you contact Doug if you are looking to either buy or sell your home." - Jonda H.

the

sheet

YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N A PR I L

S I N G L E - FA M I LY H O M E S TRACT/STREET

Alora

26 Via Paulina

21 Via Lampara

STATUS

PRICE

PRICE/SQ FT

SQ FT*

BED/BATH

GARAGE

LOT SIZE*

COE

SOLD

$2,430,000

$524

4,640

6/7

11,088

3/19/21

SOLD

$2,399,000

$596

4,026

4/5

12,401

3/31/21

Alta Visit www.TalegaGreenSheet.com

Pending

$2,995,000

$557

5,380

5/6

12,047

24 Via Carina

SOLD

$2,995,000

$569

5,263

5/6

10,610

5/24/21

31 Via Alcamo

SOLD

$2,160,000

$426

5,068

5/6

13,745

3/8/21

36 Via Alcamo

Amalfi

SOLD

$2,540,000

$535

4,752

5/6

13,448

13 Via Santander

SOLD

$1,050,000

$426

2,463

3/3

4,774

2 Via Huesca

SOLD

$970,000

$378

2,567

3/3

6,100

2 Via Marin

SOLD

$1,005,000

$392

2,567

4/3

4,996

3/31/21

5/7/21

4/19/21

3/18/21

Bella Vista No Activity

Cantabria No Activity

Caprizi Visit www.TalegaGreenSheet.com

Active

$1,198,000

$467

2,566

4/3

6,006

32 Via Adrian

SOLD

$1,275,000

$497

2,566

4/3

4,602

5/13/21

1 Calle Careyes

SOLD

$2,350,000

$444

5,290

5/6

12,153

4/26/21

63 Calle Careyes

SOLD

$2,150,000

$425

5,061

5/6

9,452

11 Paseo Carla

Careyes

67 Calle Careyes 61 Calle Careyes

Carillon

SOLD

SOLD SOLD

$1,200,000

$2,180,000 $1,940,000

$468

$465 $433

2,566

4,689 4,480

4/3

5/6 4/5

3 3

7,485

10,454

3/26/21

3/5/21 4/6/21

9,278

4/19/21

47 Calle Mattis

SOLD

$1,925,000

$488

3,942

5/6

7,455

3/15/21

20 Calle Mattis

SOLD

$1,600,000

$384

4,170

6/7

7,262

3/29/21

11 Via Lucena

SOLD

$1,620,000

$428

3,786

4/5

9,533

5/11/21

Catania Pending

$1,549,900

$498

3,112

4/4

6,050

45 Via Cartama

SOLD

$1,675,000

$479

3,497

4/4

6,050

3/30/21

11 Via Inca

SOLD

$1,539,000

$416

3,699

6/4

7,357

4/19/21

50 Via Cartama 53 Via Cartama

Cazadero

20 Via Buen Corazon

SOLD SOLD

$1,672,500 $1,515,000

$464 $433

3,602 3,497

5/5 5/4

3 3

5,632 6,169

SOLD

$1,825,000

$457

3,990

5/5

9,248

Pending

$1,250,000

$534

2,342

3/3

5,681

4/14/21 5/17/21

3/12/21

Escala Visit www.TalegaGreenSheet.com

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6 | w ww.E che l b erg er.c o m

Visit www.TalegaGreenSheet.com

the

sheet

YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N A PR I L

S I N G L E - FA M I LY H O M E S TRACT/STREET

STATUS

PRICE

PRICE/SQ FT

SQ FT*

BED/BATH

GARAGE

LOT SIZE*

COE

Farralon Ridge Visit www.TalegaGreenSheet.com

Pending

$1,275,000

$528

2,414

4/3

7,782

705 Corte Buscando

SOLD

$1,279,000

$530

2,414

4/3

7,001

452 Camino Flora Vista

SOLD

$1,161,500

$531

2,186

4/3

4,026

4/5/21

456 Camino Flora Vista

SOLD

$1,149,000

$476

2,414

4/3

4,165

3/11/21

309 Corte Mira Vista

SOLD

$1,135,000

$555

2,046

3/3

7,053

5/4/21

208 Corte Tierra Cielo

SOLD

$1,115,000

$510

2,186

4/3

4,038

5/20/21

410 Camino Flora Vista

SOLD

$1,050,000

$480

2,186

4/3

6,978

3/16/21

706 Corte Buscando

SOLD

$1,025,000

$533

1,923

4/3

4,928

3/12/21

4/5/21

Lucia 45 Via Conocido

Active

$2,800,000

$448

6,246

5/6

12,788

11 Calle Viviana

SOLD

$3,024,999

$570

5,303

5/6

14,980

3/15/21

20 Via Conocido

SOLD

$2,800,000

$462

6,055

5/6

16,415

3/15/21

16 Via Conocido

SOLD

$2,200,000

$362

6,070

6/6

13,229

3/17/21

Pending

$1,883,000

$407

4,631

5/6

7,866

Mirador Visit www.TalegaGreenSheet.com

Miraleste Visit www.TalegaGreenSheet.com

Pending

$1,437,500

$477

3,015

5/3

6,887

19 Via Abrazar

SOLD

$1,485,000

$445

3,338

5/4

6,584

5/19/21

39 Via Cancion

SOLD

$1,252,000

$404

3,098

4/3

7,898

3/5/21

Montellano Visit www.TalegaGreenSheet.com

Active

$2,295,000

$482

4,766

5/6

9,875

4 Calle Vista Del Sol

SOLD

$2,300,000

$479

4,800

5/6

10,756

4/14/21

17 Calle Angelitos

SOLD

$2,100,000

$445

4,715

5/6

9,832

3/26/21

Pending

$1,495,000

$490

3,054

4/3

5,846

SOLD

$1,565,000

$503

3,111

4/4

7,187

Monterey Visit www.TalegaGreenSheet.com 110 Via Plumosa

4/20/21

Pacifica Summit Visit www.TalegaGreenSheet.com

Active

$1,788,000

$431

4,147

4/5

9,388

26 Calle Anacapa

SOLD

$1,800,000

$468

3,847

5/4

7,878

Pending

$1,799,900

$433

4,155

5/5

6,591

Pending

$1,395,000

$4597

3,042

5/3

7,041

4/8/21

Pacifica Talega 7 | w w w.E c he l berger. co m

Visit www.TalegaGreenSheet.com

Portofino Visit www.TalegaGreenSheet.com

"We have used Doug and his team to sell 2 homes and purchase 2 homes over last few years. He is the best in the industry hands down. He’s is incredibly knowledgeable and walks you through the entire process and never misses a detail. We cannot say enough wonderful things about him and his excellent team!" - Monica C.

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YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N A PR I L

S I N G L E - FA M I LY H O M E S TRACT/STREET

Portomarin

Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 34 Via Regalo

Ravenna

Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 21 Via Nerisa

Sabella

Visit www.TalegaGreenSheet.com 33 Via Cristobal 22 Via Cristobal

San Lucar

9 Via Destino 31 Calle Verdadero 20 Calle Verdadero

San Rafael

Visit www.TalegaGreenSheet.com 101 Via Monte Picayo 106 Via Monte Picayo 214 Via Marfino

Sansol

Visit www.TalegaGreenSheet.com 51 Corte Vidriosa

Seaside

Visit www.TalegaGreenSheet.com Visit www.TalegaGreenSheet.com 29 Calle Guijarro 26 Calle Pelicano

Solana

Visit www.TalegaGreenSheet.com

Stella Mare

23 Via Timon 27 Via Timon 33 Via Timon 33 Paseo Lerida

Terra Linda

107 Plaza Via Sol 218 Via Malaga

STATUS

PRICE

PRICE/SQ FT

SQ FT*

BED/BATH

GARAGE

LOT SIZE*

COE

Active Pending SOLD

$1,400,000 $1,299,000 $1,320,000

$450 $479 $425

3,108 2,710 3,108

5/3 4/3 4/3

2 2 2

5,557 5,823 6,708

4/15/21

Pending Pending SOLD

$2,695,000 $1,750,000 $1,325,000

$586 $409 $326

4,600 4,282 4,068

6/6 5/6 4/5

3 3 3

10,000 7,126 7,765

3/19/21

Active SOLD SOLD

$1,150,000 $1,225,000 $1,170,000

$500 $533 $506

2,300 2,300 2,314

3/3 4/3 4/3

2 2 2

5,083 7,031 6,269

4/15/21 5/19/21

SOLD SOLD SOLD

$1,320,000 $1,310,000 $1,100,000

$419 $416 $421

3,147 3,147 2,615

5/4 5/4 4/3

3 3 2

5,159 6,540 6,442

5/13/21 4/2/21 4/15/21

Pending SOLD SOLD SOLD

$1,374,500 $1,574,900 $1,455,000 $1,450,000

$399 $502 $411 $462

3,445 3,140 3,536 3,140

5/4 4/4 5/4 4/4

3 3 3 3

6,200 10,358 5,902 13,389

4/14/21 5/12/21 5/7/21

Pending SOLD

$1,399,000 $1,535,000

$419 $460

3,340 3,340

4/3 4/3

2 2

8,562 8,082

4/5/21

Pending Pending SOLD SOLD

$1,200,000 $1,160,000 $1,275,000 $1,215,000

$479 $456 $501 $485

2,507 2,546 2,546 2,507

5/3 5/3 5/3 5/3

2 3 3 2

4,979 4,807 4,970 5,365

5/19/21 5/3/21

Pending

$959,000

$418

2,294

4/3

3,850

SOLD SOLD SOLD SOLD

$1,550,000 $1,480,000 $1,480,000 $1,280,000

$414 $379 $384 $430

3,740 3,901 3,851 2,978

4/4 6/5 5/5 4/3

3 2 2 2

8,095 9,163 8,868 5,173

5/5/21 4/9/21 3/23/21 3/29/21

SOLD SOLD

$1,190,000 $1,185,000

$440 $439

2,702 2,702

5/3 5/3

3 2

6,963 6,977

3/2/21 3/12/21

Pending SOLD SOLD SOLD

$1,275,000 $1,310,000 $1,200,000 $950,000

$446 $408 $375 $333

2,857 3,211 3,200 2,857

5/3 4/4 4/4 5/3

3 3 3 3

4,940 4,772 4,585 4,902

4/15/21 5/21/21 3/12/21

Verano

Vittoria

Visit www.TalegaGreenSheet.com 47 Via Armilla 51 Via Armilla 37 Via Armilla

Vizcaya

No Activity

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No Activity

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YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N A PR I L

SENIOR 55 & OLDER TRACT/STREET

STATUS

PRICE

PRICE/SQ FT

SQ FT*

BED/BATH

GARAGE

LOT SIZE*

Visit www.TalegaGreenSheet.com

Active

$1,249,000

$440

2,841

3/2

5,905

39 Camino Lienzo

SOLD

$1,175,000

$489

2,401

2/2

6,944

COE

Sandbridge

4/30/21

Seagarden No Activity

Waterleaf No Activity

Wavecrest No Activity

Talega Averages

Single Family ACTIVE (7) PENDING SALE (18) SOLD (62)

List Price $1,697,143 $1,541,472 $1,554,077

SqFt DOM 3,711 7 3,276 25 3,455 9

List $ PSF $460 $470 $450

Sold Price

Condo/Townhouse ACTIVE (2) PENDING SALE (1) SOLD (14)

List Price $752,495 $640,000 $644,671

SqFt DOM 1,563 20 1,606 4 1,545 5

List $ PSF $477 $399 $417

Sold Price

$1,568,861

$652,944

Sold $ PSF $454 Sold $ PSF $423

EXPERIENCE and KNOWLEDGE makes a significant difference when it comes to SELLING and BUYING a home in TALEGA.

9 | w w w.E c he l berger. co m

call us today, for a COMPLIMENTARY home evaluation from talega's most experienced real estate agent DOUG ECHELBERGER 949.498.7711 | doug@echelberger.com *Approximate The Green Sheet is based on information from the Association of REALTORS®/Multiple Listing Service as of 5.25.2021 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 3.1.2021 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.

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YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N A PR I L

ORANGE COUNTY MARKET SUMMARY •

The active listing inventory decreased by 27 homes in the past two-weeks, down 1%, and now totals 2,247, its second lowest level since tracking began in 2004 behind 2,240 achieved on April 1st. In April, there were 13% fewer homes that came on the market compared to 5-year average between 2015 to 2019 (2020 was skewed do to COVID-19), 516 less. Last year, there were 4,867 homes on the market, 2,620 additional homes, or 117% more.

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Demand, the number of pending sales over the prior month, increased by 46 pending sales in the past twoweeks, up 1%, and now totals 3,127. Rates remain below 3%, maintaining demand’s current brisk pace. Last year, there were 1,622 pending sales, 48% fewer than today. Keep in mind, it was the start of the pandemic too, which negatively affected demand through the end of May.

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The Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, remained unchanged at 22 days in the past couple of weeks, an extremely Hot Seller’s Market (less than 60 days). It was at 90 days last year, slower than today.

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For homes priced below $750,000, the market is a Hot Seller’s Market (less than 60 days) with an Expected Market Time of 16 days. This range represents 29% of the active inventory and 38% of demand.

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For homes priced between $750,000 and $1 million, the Expected Market Time is 16 days, a Hot Seller’s Market. This range represents 19% of the active inventory and 25% of demand.

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For homes priced between $1 million to $1.25 million, the Expected Market Time is 15 days, a Hot Seller’s Market.

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For homes priced between $1.25 million to $1.5 million, the Expected Market Time is 22 days, a Hot Seller’s Market.

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For homes priced between $1.5 million and $2 million, the Expected Market Time remained unchanged at 22 days. For homes priced between $2 million and $4 million, the Expected Market Time decreased from 46 to 41 days. For homes priced above $4 million, the Expected Market Time decreased from 137 to 114 days.

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The luxury end, all homes above $1.5 million, accounts for 35% of the inventory and 16% of demand.

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Distressed homes, both short sales and foreclosures combined, made up only 0.6% of all listings and 0.4% of demand. There are only 9 foreclosures and 5 short sales available to purchase today in all of Orange County, 14 total distressed homes on the active market, up 2 from two-weeks ago. Last year there were 42 total distressed homes on the market, more than today. There were 3,470 closed residential resales in April, 103% more than April 2020’s 1,712 closed sales. March marked an 8% rise over March 2021. It was the strongest closing month since 2005. The sales to list price ratio was 100.3% for all of Orange County. Foreclosures accounted for just 0.1% of all closed sales, and short sales accounted for 0.1%. That means that 99.8% 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 vi si t us onl i ne or c al l 949.498.7711 .

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