the GREEN sheet | March + April 2022 by Echelberger Group

M A R C H / A P R I L 2 0 2 2

t he

GREEN sheet

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

2021 IN REVIEW I have been selling real estate in Talega since 2000 and I have never experienced a market like 2021's. Talega saw exponential growth due to high demand, low inventory and low interest rates. Moreover, the community became a hotspot for the workforce migration coming from the LA and Bay areas during the Covid pandemic. These prospective buyers brought higher incomes with them and a willingness to pay more for homes, thus driving the Talega real estate market to new highs. The appeal of Talega’s master plan, unrivaled amenities, spacious homes, ample lot sizes and beautiful views combined with the temperate climate of San Clemente to make it a highly desirable address for a wide variety of buyers. I broke down the stats for the past three years to give you an idea of Talega’s growth. Nevertheless, you really do not see the full picture until you break it down quarterly and see where 2022 has already started. Please see the charts below:

As we move through our first quarter and the first half of this year, expect pricing to remain high. This is due to the lack of inventory available within the Talega community and the high demand that still exists for homes locally. I also expect the number of sales to decrease this year as the major turnover occurred over the last 18 months. Homeowners will be less inclined to sell as many have locked in low-interest rates and the workplace continues returning to normal. A rise in interest rates typically affects the market and slows its pace. However, inventory levels have to return closer to normal before we see a balance. As I write this article, there are only 6 active properties for sale in Talega with the lowest-priced singlefamily home starting at $1,495,000. It is going to take a while before we see balance in this market, considering pre-pandemic inventory numbers for active properties in Talega were averaging 40 to 60 homes for sale at any given time. In my opinion, inventory is the key deciding factor as to when the market changes. 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 949.498.7711.

BUYER NEEDS D O YO U H AV E W H AT W E ' R E LO O K I N G F O R ?

BUYER 2 • 4 Bed/3 Bath • 2500+ SF • $1,400,000 BUYER 3 • SAN LUCAR • 3+ Bed • Nice Backyard • $1,300,000 BUYER 4 • 3 Bed/2 Bath • 1,500+ sf • $1,500,000 BUYER 5 • 4+ Bed • 3,000+ sf • View and Pool • $2,500,000-5,000,000 BUYER 6 • ALTA or ALTEA preferred • 5 Bed • NO Pool • $3,500,000 BUYER 7 • SANTALANA • Plan 3 or 4 • On Paseo Vista or Paseo Verde • View Preferred • $1,000,000 BUYER 8 • CARMEL • On Avenida Cristal • Must Have View • $1,200,000

BUYER 9 • 5 Bed/5 Bath • 4,000+ sf • Downstairs Ensuite • Pool and/or View • $3,500,000 BUYER 10 • 3 Bed/2 Bath • 2,000+ sf • Must have Ocean View • $3,500,000 BUYER 11 • 3 Bed/2.5 Bath • Townhouse or Single Family • Fixer OK • $900,000 BUYER 12 • Gated Tract • 55+ OK • 3 Bed • 2,000-2,500 sf • $1,300,000 BUYER 13 • 4 Bed • View • NO Pool • $1,500,000 BUYER 14 • SANDBRIDGE • On Camino Lienzo • View Preferred • $1,500,000 BUYER 15 • CARMEL • Single-level BUYER 4 • 4+ Bed • 3,000+ sf • $2,500,000+

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BUYER 1 • 4+ Bed • Pool or Room for Pool • $1,300,000

TA L E G A R E S I D E N C E S

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Dou g Ech e l b erger h a s a PROVEN track reco rd in Talega Real Esta te 1 2 C ORTE V IZCAYA J UST SOLD

9 CALLE PACIFICA JUST SOLD

3 0 0 CA LLE CA MPA NER O J UST SOLD

13 CALLE TAM ARA SOLD IN 17 DAYS

1 8 CA LLE PAC IFICA S O LD IN 1 DAY

3 08 VIA LOS T ILOS JUST SOLD IN 7 DAYS

1 CAMIN O P LATIN O S OLD IN 4 DAYS

4 7 CALLE M AT T IS SOLD IN 1 DAY

TA L E G A R E S I D E N C E S Re p rese n te d by Do u g Ech elberger

2021-2022

c losi n gs

ADDRESS

TRACT

PRICE

12 Corte Vizcaya 13 Calle Tamara 20 Via Conocido 45 Via Conocido 36 Via Alcamo 1 Calle Careyes 41 Calle Vista Del Sol 44 Calle Vista Del Sol 16 Via Conocido 67 Calle Careyes 31 Via Alcamo 23 Via Divertirse 18 Calle Pacifica 47 Calle Mattis 20 Calle Pacifica 9 Calle Pacifica 45 Via Cartama 308 Via Los Tilos 306 Plaza Cabana 308 Camino Bravado 10 Calle Alumbrado 8 Calle Portofino 53 Via Cartama 19 Via Abrazar 6 Calle Portofino 214 Via Marfino 8 Via Abajar 33 Via Cristobal 1 Via Zamora 202 Via Sedona 1 Camino Platino 414 Camino Flora Vista 36 Avenida Cristal 11 Calle Merecida 26 Paseo Luna 26 Corte Pinturas 300 Calle Campanero 306 Calle Campanero 66 Paseo Del Rey 48 Paseo Del Rey

Vizcaya Alta Lucia Lucia Alta Careyes Montellano Montellano Lucia Careyes Alta Mirador Pacifica Summit Carillon Pacifica Summit Pacifica Summit Catania San Rafael Terra Linda Pacifica Talega Portofino Portofino Catania Miraleste Portofino San Rafael San Lucar Sabella Amalfi Monterey Carmel Farralon Ridge Carmel Carmel Alassio Seagarden Alassio Alassio Alassio Alassio

$3,000,000 $2,850,000 $2,800,000 $2,750,000 $2,540,000 $2,350,000 $2,299,000 $2,235,000 $2,200,000 $2,180,000 $2,160,000 $2,139,626 $1,945,000 $1,925,000 $1,900,000 $1,825,000 $1,675,000 $1,635,000 $1,600,000 $1,575,000 $1,550,000 $1,520,000 $1,515,000 $1,485,000 $1,480,000 $1,450,000 $1,330,000 $1,225,000 $1,220,000 $1,135,000 $970,000 $950,000 $820,000 $799,000 $785,000 $750,000 $743,000 $733,000 $615,000 $610,000

* Represented Seller

** Represented Buyer

BED

BATH

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

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

SQFT 5,539 * 5,380 *** 6,055 ** 6,246 * 4,752 *** 5,290 * 4,774 * 4,686 * 6,070 * 4,689 * 5,068 * 4,631 * 4,220 * 3,942 * 3,632 * 3,601 * 3,497 * 3,536 * 2,867 *** 3,866 * 2,770 * 3,030 * 3,497 * 3,338 ** 3,042 * 3,140 *** 2,969 * 2,300 * 2,369 * 3,111 * 2,050 *** 2,414 * 2,050 ** 2,358 *** 1,668 * 2,053 *** 1,484 * 1,668 * 1,468 ** 1,468 *

*** Represented Seller and Buyer

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 FEB R UA R Y

TOWNHOMES TRACT/STREET

STATUS

PRICE

PRICE/SQ FT

SQ FT*

BED/BATH

GARAGE

LOT SIZE*

COE

Pending

$750,000

$460

1,631

3/4

(A)

SOLD

$743,000

$501

1,484

3/4

12/28/21

SOLD

$935,200

$456

2,050

3/2

12/13/21

Pending

$950,000

$543

1,748

3/3

(B)

Active

$899,000

$474

1,896

3/3

(C)

16 Via Carmona

Active

$849,000

$461

1,840

3/3

(D)

26 Corte Javier

SOLD

$820,000

$436

1,881

4/3

12/3/21

15 Corte Loarre

SOLD

$780,000

$424

1,840

3/3

12/7/21

24 Via Almeria

SOLD

$725,000

$537

1,351

2/2

1/28/22

Alassio 6 Paseo Del Rey 300 Calle Campanero

Carmel 1 Camino Lozano

Santalana 102 Paseo Vista

Trinidad 11 Camino Celeste

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Verano

(A) = Distinctive Coast Properties (B) = Harcourts Prime Properties (C) = eXp Realty of California Inc (D) = Compass

"Impeccable service! Doug and his team took great care of me during the sale of my house. I could not be happier with how flawless he made the entire experience as he makes you feel like you’re his only VIP client. Doug was always professional, very punctual, proactive and polite. I highly recommend the Echelberger Group for any real estate needs...” - Cameron B.

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 FEB R UA R Y

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

Pending

$4,188,000

$796

5,263

5/6

11,648

(A)

Pending

$1,325,000

$516

2,567

3/3

4,101

(B)

Active

$1,632,000

$465

3,512

5/4

7,663

(C)

Alora No Activity

Alta 14 Via Carina

Amalfi 3 Via Zamora

Bella Vista No Activity

Cantabria 18 Calle De La Luna

Caprizi 14 Via Agradar

Active

$1,790,000

$693

2,583

3/3

8,018

(D)

14 Paseo Carla

SOLD

$1,525,000

$590

2,583

4/3

6,699

12/10/21

Pending

$3,300,000

$652

5,061

5/6

12,763

(E)

17 Via Franca

SOLD

$2,300,000

$620

3,709

5/5

7,975

12/20/21

23 Via Lucena

SOLD

$2,300,000

$608

3,786

4/5

9,778

2/9/22

35 Via Soria

Active

$1,999,000

$572

3,497

4/4

6,665

(F)

32 Via Soria

Pending

$1,825,000

$507

3,602

5/5

6,882

(G)

22 Via Soria

SOLD

$1,800,000

$500

3,602

5/5

5,489

1/20/22

31 Via Soria

SOLD

$1,675,000

$568

2,947

4/4

5,489

12/13/21

Pending

$1,899,999

$494

3,849

5/5

7,721

(A)

SOLD

$1,375,000

$546

2,520

4/3

6,188

1/25/22

Careyes 37 Calle Careyes

Carillon

Catania

Cazadero 31 Calle Loyola

2 Via Ceramica

(A) = Coldwell Banker Realty (B) =GreenTree Properties (C) = Pacific Sotheby's Int'l Realty (D) = Asbury Brokerage Services (E) = Luxre Realty, Inc. (F) = Douglas Elliman of CA (G) = C-21 Diamond

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Escala

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 FEB R UA R Y

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

SOLD

$1,335,000

$570

2,344

4/3

4,219

12/13/21

Pending

$3,950,000

$639

6,181

6/7

15,677

(A)

Pending

$2,749,000

$594

4,631

5/6

9,422

(B)

SOLD

$1,585,000

$526

3,015

5/3

7,409

12/3/21

SOLD

$1,645,000

$529

3,111

4/4

5,106

2/4/22

SOLD

$1,825,000

$507

3,601

5/4

10,958

12/21/21

SOLD

$1,800,000

$592

3,042

5/3

8,271

1/14/22

Farralon Ridge 464 Camino Flora Vista

Lucia 51 Via Conocido

Mirador 12 Calle Gaulteria

Miraleste 23 Via Abrazar

Montellano No Activity

Monterey 314 Via Promesa

Pacifica Summit 9 Calle Pacifica

Pacifica Talega No Activity

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Portofino 27 Calle Portofino

(A) = Surterre Properties Inc. (B) = HomeSmart, Evergreen Realty

"Best experience ever. Sold many houses over the years, never had an amazing agent and team like Doug and his team, highly recommend them." - Dan 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 FEB R UA R Y

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

Active

$1,600,000

$536

2,987

5/3

5,428

(A)

20 Paseo Canos

SOLD

$1,400,000

$518

2,701

5/3

5,278

1/14/22

19 Via Cristobal

SOLD

$1,375,000

$585

2,351

3/3

5,489

12/14/21

13 Via Cuenta Nueva

SOLD

$1,360,000

$578

2,351

4/3

3,939

12/20/21

SOLD

$1,635,000

$462

3,536

5/5

6,377

1/11/22

7 Corte Estante

Pending

$1,300,000

$565

2,300

4/3

5,320

(B)

20 Camino Silla

SOLD

$1,237,000

$539

2,294

4/3

3,756

12/16/21

SOLD

$1,600,000

$558

2,867

6/3

8,466

12/22/21

SOLD

$3,000,000

$542

5,539

5/6

11,620

1/6/22

Portomarin 25 Via Jenifer

Ravenna No Activity

Sabella

San Lucar No Activity

San Rafael 308 Via Los Tilos

Sansol No Activity

Seaside No Activity

Solana

Stella Mare No Activity

Terra Linda 306 Plaza Cabana

Vittoria No Activity

12 Corte Vizcaya

(A) = eXp Realty of California Inc (B) =Bullock Russell RE Services

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Vizcaya

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 FEB R UA R Y

SENIOR 55 & OLDER TRACT/STREET

STATUS

PRICE

PRICE/SQ FT

SQ FT*

BED/BATH

GARAGE

LOT SIZE*

COE

14 Corte Rivera

SOLD

$1,475,000

$547

2,699

2/2

7,030

1/28/22

15 Corte Rivera

SOLD

$1,430,000

$530

2,699

2/2

5,826

12/9/21

36 Camino Lienzo

SOLD

$1,350,000

$475

2,841

3/2

6,152

1/27/22

Active

$1,000,000

$655

1,526

2/2

3,156

(A)

Active

$1,350,000

$657

2,055

2/2

5,199

(B)

Pending

$1,250,000

$577

2,166

2/2

5,425

(C)

Sandbridge

Seagarden 55 Corte Pinturas

Waterleaf 1 Camino Alenza 20 Camino Del Prado

Wavecrest No activity (A) = Century 21 Discovery (B)= Berkshire Hathaway HomeService (C) First Team Real Estate

Talega Averages

Single Family ACTIVE (5) PENDING SALE (9) SOLD (21)

List Price $1,674,200 $1,930,438 $1,641,657

SqFt 2,927 3,282 3,054

DOM 9 15 13

List $ PSF $584 $598 $538

Sold Price

Condo/Townhouse ACTIVE (3) PENDING SALE (2) SOLD (5)

List Price $916,000 $850,000 $787,400

SqFt 1,754 1,690 1,721

DOM 8 10 14

List $ PSF $530 $502 $458

Sold Price

Sold $ PSF

$800,640

$465

$1,667,952

Sold $ PSF $546

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

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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 2.14.22 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 12.1.2021 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.

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 FEB R UA R Y

ORANGE COUNTY MARKET SUMMARY

•

• • • • • •

• •

•

The active listing inventory increased by 88 homes, up 7%, and now totals 1,358 homes, its lowest level for this time of the year since tracking began 19 years ago. In January, there were 23% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 709 fewer. Last year, there were 2,438 homes on the market, 1,080 additional homes, or 80% more. Demand, the number of pending sales over the prior month, surged by 315 pending sales in the past two weeks, up 19%, and now totals 1,998. Last year, there were 2,863 pending sales, 43% more than today due to the impact of COVID on housing. The 3-year average prior to COVID (2017 to 2019) was 2,393, or 20% more. With demand surging compared to the smaller rise in the inventory, the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, dropped from 23 to 20 days in the past couple of weeks, an insanely Hot Seller’s Market (less than 60 days). 20 days ties the lowest reading since tracking began 19 years ago, which was also reached in November and December 2021. It was at 26 days in mid-February last year, similar to today. For homes priced below $750,000, the market is a Hot Seller’s Market (less than 60 days) with an Expected Market Time of 15 days. This range represents 23% of the active inventory and 30% of demand. For homes priced between $750,000 and $1 million, the Expected Market Time is 16 days, a Hot Seller’s Market. This range represents 21% of the active inventory and 27% of demand. For homes priced between $1 million to $1.25 million, the Expected Market Time is 17 days, a Hot Seller’s Market. This range represents 10% of the active inventory and 12% of demand. For homes priced between $1.25 million to $1.5 million, the Expected Market Time is 18 days, a Hot Seller’s Market. This range represents 9% of the active inventory and 10% of demand. For homes priced between $1.5 million to $2 million, the Expected Market Time is 25 days, a Hot Seller’s Market. This range represents 11% of the active inventory and 9% of demand. For homes priced between $2 million and $4 million, the Expected Market in the past two weeks decreased from 34 to 30 days. For homes priced between $4 million and $8 million, the Expected Market Time decreased from 79 to 58 days. For homes priced above $8 million, the Expected Market Time decreased from 219 to 184 days. The luxury end, all homes above $2 million, accounts for 27% of the inventory and 12% of demand. Distressed homes, both short sales and foreclosures combined, made up only 0.2% of all listings and 0.2% of demand. There are only 2 foreclosure and 1 short sale available to purchase today in all of Orange County, 3 total distressed homes on the active market, unchanged from two weeks ago. Last year there were 6 total distressed homes on the market, similar to today. There were 1,811 closed residential resales in January, 20% less than January 2021’s 2,250 closed sales. January marked a 27% drop compared to December 2021. The sales to list price ratio was 102.3% for all of Orange County. Foreclosures accounted for just 0.3% of all closed sales, and there were no closed short sales. That means that 99.7% 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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