N O V E M B E R 2 0 2 0
t he
GREEN sheet
TA L EGA’S RED-HOT RE A L ESTAT E MA R KE T
BUYERS FIND INCREDIBLE VALUE, LOW INVENTORY AT TA L E G A I N S A N C L E M E N T E In my nearly 20 years of selling homes and writing Green Sheet articles in Talega, I have never seen a market so starved for inventory. As I write this, there are only four condos and six single-family homes for sale, with two available for lease. There are no homes for sale in Talega under $1,195,000, which is incredibly hard to believe.
Before the pandemic hit, there was a strong migration of sellers moving out of the larger homes, downsizing, and wanting to be closer to city life. Talega was struggling with year-over-year value increases, which was hard to explain to both owners and incoming buyers. Talega had many years of 0 to 1% year-over-year growth while other communities experienced 4 to 8% growth.
There are a couple of reasons why the community was struggling with values. Talega was established during the era of Tuscany-style homes, with a selection of older-style floorplans that are more compartmentalized, closed off to the backyard, and featuring little to no covered outdoor living areas. Even if a home was built in Spanish or Mediterranean style, owners would change the landscape, interior design and furnishings to reflect a Tuscan style.
As the styles and floorplans changed from 2014 through 2020, the Tuscan look became one of the least sought-after and home values in the resale market suffered as a result. The majority of buyers desire open floorplans, a lighter color palette, updated surfaces, contemporary lighting and superior and fit and finish. They also want open access to the backyard through La Cantina-style sliding doors along with covered outdoor living spaces.
We experienced the dramatic difference in values when builders came back to Talega in 2014 and started building newer, preferred styles. At Alta, Carillon and Alora, we saw dramatic differences in value between the old and new styles. From 2014 to 2020, many of the older homes in Talega were updated, resulting in a significant rise in value over neighboring original-style homes. However, owners’ equity positions and/or what they originally paid prevented or discouraged many of them from investing more money into their homes.
In March of this year the effects of the pandemic hit the US, and California was at the forefront. In a 45-day period, from March to late April, the desire of where to live and work completely shifted. Planned suburban communities, larger homes with more bedrooms, greater yard space and proximity to outdoor activities all became top priorities for buyers, causing Talega’s real estate market to catch fire. Homes were selling in under a week and prices were quickly rising.
Some in Talega called 2020's increased prices crazy, while others were happy to see them soar past the 2005 to 2007 prices they originally paid for their homes. The new price points, low interest rates, and increased equity also gave homeowners the ability to make those long overdue updates or improvements. This adds to the overall value of the community—you don’t have to sell a home to increase the value of a community, as the overall look and feel of a neighborhood has a significant impact on perceived value.
I have studied Talega real estate for more than 20 years and from my vantage point, the homes in Talega are now earning the values they deserve. These values may seem unheard of to some if they are hyper-focused in the Talega community. But look outside for an all-encompassing viewpoint, as I do on a daily basis. The quality of the homes, lifestyle, climate, schools, and access to outdoor activities and recreational amenities make Talega a truly incredible value. All of these factors combined make it easier to understand why there is very little inventory for sale at a time when the desire to live here continues to grow.
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—
free. For more information, visit www.echelberger.com or call 949.498.7711. call us today , for a
COMPLIMENTARY
home evaluation
from talega ' s most experienced real estate agent
DOUG ECHELBERGER 949.498.7711 | doug @echelberger .com
2 | w w w.E c hel berger.c o m
and custom marketing strategies to regular updates and prompt communication that makes transactions efficient and stress-
2 0 2 0 N O TA B L E S A L E S I N TA L E G A
3 | w w w.E c hel berger. co m
Dou g Ech e l b erger h a s a PROVEN track reco rd in Talega Real Esta te 27 V IA C ONOCID O
33 CA L L E CA REYES
H IG H EST SALE IN TALE GA S INCE 2007 & 2 N D H I G H EST SALE IN T ALE GA HISTO R Y
S O L D IN 5 D AYS 2 N D H IG H ES T S AL E IN TR A C T S I N CE 20 0 6
5 7 C ALLE CAREY ES
1 9 VIA DIVER TIRSE
SOLD IN 9 DAY S 3 R D H I G H EST SALE IN T RACT S INCE 2 006
S O L D O F F -M A R K ET H IG H ES T S A L E IN M IR A D O R S I N CE 20 0 6
13 C ALLE GAULTERIA
25 VIA CA R TA MA
SO LD OFF-MARKE T 2ND HIGHEST SALE IN MIRADOR SINCE 2006
S O L D IN 5 D AYS H IG H ES T S AL E EVER IN C A T A N I A
3 1 VIA C RIS TOBAL
23 CA L L E POR TOF IN O
SOLD IN 6 DAY S HI G H EST SALE E VE R IN S ABE LL A
S O L D IN 1 0 D A YS H IG H ES T S A L E IN PO R TO F INO T H I S Y E A R
TA L E G A R E S I D E N C E S ADDRESS pending
2 0 2 0 Y TD closings
TRACT
PRICE
BED
BATH
SQFT
8 Corte Vizcaya 24 Corte Aljibe
Vizcaya Verano
$1,795,000 $540,000
5 2
5.5 2
5,484 1,351
27 Via Conocido 36 Via Alcamo 33 Calle Careyes 57 Calle Careyes 19 Via Divertirse 37 Via Alcamo 14 Via Divertirse 13 Corte Cabrito 18 Calle Gaulteria 15 Calle Loyola 21 Via Jacobea 15 Via Lampara 303 Via Los Tilos 21 Via Timon 22 Calle La Espalda 10 Calle Castillo 218 Via Sedona 31 Via Cristobal 23 Via Jacobea 15 Calle Saltamontes 23 Calle Portofino 17 Corte Limonada 4 Camino Lienzo 42 Via Regalo 16 Via Adrian 504 Corto Del Oro 5 Calle Boveda 25 Corte Pinturas 28 Calle Akelia 2 Camino Sendero 21 Paseo Vista 17 Paseo Vista 106 Paseo Vista 98 Paseo Vista 30 Paseo Del Rey 21 Avenida Brio 9 Camino Celeste 40 Paseo Del Rey 54 Paseo Rosa 13 Paseo Luna
Lucia Alta Careyes Careyes Mirador Alta Mirador Carillon Mirador Alora Catania Alora San Rafael Stella Mare Cazadero Pacifica Summit Monterey Sabella Catania Sansol Portofino San Lucar Sandbridge Portomarin Caprizi Farralon Ridge Solana Seagarden Sabella Carmel Santalana Santalana Santalana Santalana Alassio Trinidad Trinidad Alassio Alassio Alassio
$3,010,000 $2,225,000 $2,155,000 $1,915,500 $1,875,000 $1,745,000 $1,620,000 $1,588,000 $1,500,000 $1,330,000 $1,310,000 $1,265,000 $1,265,000 $1,250,000 $1,238,750 $1,230,000 $1,200,000 $1,202,000 $1,170,000 $1,140,000 $1,100,000 $1,070,000 $1,050,000 $1,000,000 $977,000 $889,000 $825,000 $825,000 $820,000 $795,000 $749,000 $679,000 $679,000 $615,000 $569,000 $549,000 $539,000 $524,995 $524,900 $490,000
5 5 4 4 5 5 6 4 5 5 4 5 5 5 5 5 4 4 5 5 4 4 2 4 4 4 4 2 3 3 3 3 3 3 3 2 2 2 2 2
6.5 6 4.5 4.5 5.5 5.5 6.5 4.5 5.5 5.5 4 5.5 4.5 4.5 4.5 4.5 3.5 2.5 4 3.5 2.5 3 2 3 3 3 2.5 2 2.5 2 2.5 2.5 2.5 2 2.5 2 2 2.5 2 2.5
6,046 * 4,752 ** 4,656 * 4,689 * 4,706 * 5,136 * 4,951 ** 3,975 * 4,631 * 4,094 *** 3,497 * 4,499 *** 3,536 * 3,694 * 4,082 *** 3,886 * 3,519 * 2,627 * 3,547 * 3,238 * 2,832 * 2,615 * 2,699 ** 2,872 *** 2,583 * 1,924 * 1,972 * 1,526 ** 2,088 * 2,066 *** 1,952 * 1,776 *** 1,776 *** 1,292 * 1,484 * 1,367 * 1,367 * 1,232 *** 1,356 * 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 * Represented Seller
** Represented Buyer
***Represented Seller and Buyer
4 | w w w.E chel berger. co m
Re p rese n te d by Do u g Ech elberger
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 O C TO B ER
TOWNHOMES TRACT/STREET
STATUS
PRICE
PRICE/SQ FT
SQ FT*
BED/BATH
GARAGE
LOT SIZE*
Email Info@Echelberger.com
Active
$549,000
$369
1,487
2/2
2
--
Email Info@Echelberger.com
Active
$542,000
$364
1,487
2/2
2
--
Email Info@Echelberger.com
Pending
$579,000
$394
1,468
3/3
2
--
Email Info@Echelberger.com
COE
Alassio
Pending
$559,000
$381
1,468
3/3
2
--
64 Paseo Rosa
SOLD
$650,000
$390
1,668
3/3
2
--
9/18/20
3 Paseo Luna
SOLD
$595,000
$405
1,468
3/3
2
--
9/16/20
30 Paseo Del Rey
SOLD
$569,000
$383
1,484
3/3
2
--
9/9/20
54 Paseo Rosa
SOLD
$524,900
$387
1,356
2/2
2
--
9/28/20
11 Paseo Luna
SOLD
$520,000
$383
1,356
2/2
2
1,000
8/4/20
13 Paseo Luna
SOLD
$490,000
$398
1,232
2/3
1
--
8/28/20
Email Info@Echelberger.com
Active
$929,500
$365
2,550
3/3
2
--
82 Avenida Cristal
SOLD
$875,000
$427
2,050
3/2
2
--
24 Avenida Cristal
SOLD
$840,000
$332
2,527
2/3
2
2,380
8/6/20
2 Camino Sendero
SOLD
$795,000
$385
2,066
3/2
2
--
9/11/20
34 Avenida Cristal
SOLD
$775,000
$307
2,527
2/3
2
--
8/18/20
Email Info@Echelberger.com
Pending
$639,900
$366
1,748
3/3
2
--
Email Info@Echelberger.com
Carmel 9/28/20
Santalana Pending
$634,900
$363
1,748
3/3
2
--
42 Paseo Verde
SOLD
$750,000
$384
1,952
3/3
2
100
9/17/20
21 Paseo Vista
SOLD
$749,000
$384
1,952
3/3
2
--
8/14/20
19 Paseo Vista
SOLD
$730,000
$411
1,776
3/3
2
--
9/30/20
106 Paseo Vista
SOLD
$670,000
$377
1,776
3/3
2
--
10/19/20
112 Paseo Vista
SOLD
$650,000
$372
1,748
3/3
2
1000
9/21/20
98 Paseo Vista
SOLD
$620,000
$480
1,292
3/2
2
--
8/14/20
Email Info@Echelberger.com
Pending
$649,000
$399
1,625
3/3
2
--
21 Avenida Brio
Pending
$549,000
$402
1,367
2/2
2
--
11 Calle Calurosa
SOLD
$652,905
$344
1,896
4/3
2
--
9/18/20
27 Camino Celeste
SOLD
$630,000
$392
1,606
3/3
2
--
9/16/20
Email Info@Echelberger.com
Pending
$679,000
$369
1,840
3/3
2
--
Email Info@Echelberger.com
Pending
$670,000
$364
1,840
3/3
2
--
Email Info@Echelberger.com
Pending
$525,000
$389
1,351
2/2
2
--
Email Info@Echelberger.com
Pending
$520,000
$385
1,351
2/2
2
--
SOLD
$495,000
$366
1,351
2/2
2
--
Trinidad
5 | w ww.E che l b erg er.c o m
Verano
43 Via Villena
8/28/20
"There are realtors and then there are realtors. Doug and his team are on another level. Selling a home can be stressful and Doug kept stress at a minimum because he had a solid strategy. From pre-listing advice and support to a clear strategy based on the market led us to selling our home in a weekend above asking and a short escrow period." - Bob C.
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 O C TO B ER
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*
Pending
$1,698,000
$386
4,400
5/6
4
6,386
COE
Alora Email Info@Echelberger.com
Alta Email Info@Echelberger.com 37 Via Alcamo
Pending
$1,948,000
$379
5,136
5/6
3
8,515
SOLD
$1,745,000
$340
5,136
5/6
3
10,083
9/4/20
Amalfi Email Info@Echelberger.com
Pending
$905,000
$405
2,237
3/3
2
3,911
17 Corte Limonada
SOLD
$1,070,000
$409
2,615
4/3
2
6,769
4 Via Belorado
SOLD
$892,000
$399
2,234
4/3
2
3,473
1 Via Santander 3 Via Zamora
SOLD SOLD
$910,000 $885,000
$355 $345
2,567 2,567
3/3 3/3
2 2
9/9/20
3,737
9/11/20
4,101
8/10/20
10/9/20
Bella Vista No Activity
Caprizi Email Info@Echelberger.com
Active
$1,159,000
$469
2,469
4/3
2
7,248
34 Via Adrian
SOLD
$1,099,000
$453
2,427
3/3
2
5,054
SOLD
$2,155,000
$463
4,656
4/5
3
14,201
Email Info@Echelberger.com
Active
$1,699,900
$449
3,786
4/5
2
7,098
Email Info@Echelberger.com
Active
$1,589,000
$381
4,170
6/7
2
7,262
26 Via Torina
SOLD
$1,450,000
$383
3,786
4/5
2
7,098
23 Via Alonso
SOLD
$1,050,000
$407
2,583
4/3
2
7,001
10/6/20 8/24/20
Careyes 33 Calle Careyes 57 Calle Careyes
SOLD
$1,915,500
$409
4,689
4/5
3
9,975
Carillon
9/16/20
Catania Email Info@Echelberger.com
Pending
$1,495,000
$390
3,833
5/5
2
5,489
31 Via Jacobea
SOLD
$1,315,000
$376
3,497
5/4
3
5,555
37 Via Garona
SOLD
$1,299,000
$361
3,602
5/5
3
8,494
21 Via Jacobea 23 Via Jacobea 14 Via Inca
SOLD SOLD SOLD
$1,310,000 $1,170,000 $1,155,000
$375 $330 $393
3,497 3,547 2,941
4/4 5/4 4/4
3 2 2
5,790
9/14/20 9/15/20 9/4/20
5,575
8/27/20
7,248
9/17/20
Cazadero 16 Via Buen Corazon
SOLD
$1,500,000
$367
4,082
5/5
3
6,264
9/28/20
11 Via Buen Corazon
SOLD
$1,350,000
$331
4,082
5/5
2
7,189
9/1/20
16 Corte El Brazo
SOLD
$1,425,000
$370
3,849
5/5
3
8,013
9/21/20
3 Corte La Cereza
Pending
$975,000
$387
2,520
4/3
2
Email Info@Echelberger.com
Pending
$950,000
$383
2,478
4/3
2
4,371
SOLD
$990,000
$396
2,500
4/3
2
5,700
25 Via Apuesto 12 Via Apuesto
SOLD
$955,000
$375
2,550
4/3
2
5,933
9,402
10/6/20 8/21/20
SIGN UP TO RECEIVE THE GREEN SHEET VIA EMAIL EVERY MONTH w w w.Ta l e g a G r e e n S h e e t .c o m | Your Source for Everything Real Estate
6 | w ww.E che l b erg er.c o m
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 O C TO B ER
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
Email Info@Echelberger.com
Active
$2,999,999
$566
5,303
5/6
3
14,980
27 Via Conocido
SOLD
$3,010,000
$498
6,046
5/7
4
15,698
19 Via Divertirse
SOLD
$1,875,000
$398
4,706
5/6
4
15,965
9/9/20
17 Calle Aveituna
SOLD
$1,495,000
$325
4,599
5/6
3
8,774
9/21/20
60 Calle Vista Del Sol
Pending
$2,395,000
$503
4,766
5/6
3
10,416
Email Info@Echelberger.com
Pending
$1,925,000
$455
4,229
5/5
3
14,320
111 Via Plumosa
SOLD
$1,260,000
$369
3,415
5/3
3
7,600
10/7/20
117 Via Plumosa
SOLD
$1,249,000
$401
3,111
4/4
3
12,373
8/31/20
Email Info@Echelberger.com
Active
$1,399,000
$389
3,601
4/4
3
9,390
7 Calle Pacifica
SOLD
$1,325,000
$324
4,085
5/4
3
9,216
Pending
$1,550,000
$358
4,333
5/5
3
6,797
400 Camino Bandera
SOLD
$1,955,000
$421
4,643
5/5
2
10,163
9/10/20
424 Camino Bandera
SOLD
$1,529,000
$396
3,866
6/6
3
7,088
10/6/20
20 Calle Castillo
SOLD
$1,400,000
$389
3,601
4/4
3
7,706
8/27/20
Pending
$1,100,000
$388
2,832
4/3
3
6,870
SOLD
$1,075,000
$382
2,816
5/4
2
6,020
Pending
$1,275,000
$313
4,068
4/5
3
7,765
SOLD
$2,225,000
$498
4,468
5/7
3
11,882
Farralon Ridge No Activity
Lucia 10/20/20
Mirador
Miraleste No Activity
Montellano
Monterey
Pacifica Summit 9/21/20
Pacifica Talega Email Info@Echelberger.com
Portofino 23 Calle Portofino
Portomarin
7 | w w w.E c he l berger. co m
52 Via Regalo
8/12/20
Ravenna Email Info@Echelberger.com 52 Via Nerisa
10/8/20
"Doug Echelberger is known as the go-to realtor for properties in Talega and was our first choice for selling our home. COVID-19 created a very tricky and trying period during the sale of our home. Through it all, Doug personally responded to all our questions, and leveraged his ties with agents in the area to bring multiple buyers before reaching a successful close." - Randy P.
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 O C TO B ER
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
31 Via Cristobal
SOLD
$1,202,000
$458
2,627
4/3
2
6,714
8/26/20
17 Paseo Canos
SOLD
$950,000
$362
2,627
4/3
2
4,770
8/26/20
Sabella 19 Via Cuenta Nueva
SOLD
$1,130,000
$430
2,627
4/3
2
5,454
9/23/20
San Lucar 4 Calle Verdadero
SOLD
$1,111,000
$353
3,147
4/4
3
6,733
10/5/20
San Rafael Email Info@Echelberger.com
Active
$1,299,900
$377
3,445
5/4
3
6,087
303 Via Los Tilos
SOLD
$1,265,000
$358
3,536
5/5
3
5,739
314 Via Los Tilos
SOLD
$1,255,000
$344
3,650
5/4
3
6,254
10/8/20 9/28/20
Sansol Email Info@Echelberger.com
Pending
$1,169,000
$381
3,069
4/4
3
6,804
SOLD
$1,265,000
$391
3,238
5/4
2
6,207
Email Info@Echelberger.com
Pending
$999,000
$398
2,507
4/3
2
7,447
5 Calle Camaron
Pending
$999,000
$398
2,507
5/3
2
4,989
6 Calle Pelicano
SOLD
$1,180,000
$437
2,700
5/3
3
7,629
9/14/20
7 Calle Pelicano
SOLD
$1,040,000
$425
2,448
5/3
2
6,092
8/21/20
28 Corte Vidriosa
2 Calle Saltamontes
SOLD
$1,185,000
$329
3,600
5/3
3
6,332
9/29/20 8/12/20
Seaside
7 Calle Guijarro 4 Calle Tortuga
25 Calle Camaron
SOLD SOLD SOLD
$1,160,000 $999,000 $989,000
$463 $422 $374
2,506 2,365 2,641
4/3 4/3 4/3
2 2 2
6,691 6,052 5,146
8/28/20 10/1/20 8/17/20
Solana Email Info@Echelberger.com
Active
$879,000
$520
1,690
3/3
2
Email Info@Echelberger.com
Pending
$799,000
$473
1,690
3/3
2
4,700
SOLD
$915,000
$399
2,294
4/3
2
6,993
9/21/20
73 Via Regalo
SOLD
$1,400,000
$383
3,660
5/5
3
8,368
10/5/20
21 Via Timon
SOLD
$1,250,000
$338
3,694
5/5
2
8,648
9/8/20
32 Calle Boveda 22 Corte Pasillo
SOLD
$845,000
$429
1,972
3/3
2
3,665
3,306
8/10/20
Stella Mare 38 Paseo Lerida
SOLD
$1,275,000
$342
3,729
5/5
3
5,727
8/3/20
Terra Linda 226 Via Malaga
SOLD
$1,050,000
$318
3,305
5/3
2
6,056
10/2/20
Email Info@Echelberger.com
Active
$1,195,000
$372
3,211
4/4
3
5,379
54 Via Armilla
SOLD
$1,125,000
$350
3,211
4/4
3
5,000
Pending
$1,795,000
$327
5,484
5/6
3
14,536
9/14/20
Vizcaya 8 Corte Vizcaya
SIGN UP TO RECEIVE THE GREEN SHEET VIA EMAIL EVERY MONTH w w w.Ta l e g a G r e e n S h e e t .c o m | Your Source for Everything Real Estate
8 | w w w.E c he l berger.c o m
Vittoria
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 O C TO B ER
SENIOR 55 & OLDER TRACT/STREET
STATUS
PRICE
PRICE/SQ FT
SQ FT*
BED/BATH
GARAGE
LOT SIZE*
COE
Email Info@Echelberger.com
Active
$1,199,000
$328
3,650
4/3
2
6,624
Email Info@Echelberger.com
Pending
$1,099,000
$407
2,699
2/2
2
7,026
Email Info@Echelberger.com
Pending
$1,079,000
$449
2,401
2/2
2
5,837
SOLD
$1,050,000
$389
2,699
2/2
2
8,026
9/11/20
SOLD
$825,000
$541
1,526
2/2
2
--
8/23/20
Email Info@Echelberger.com
Active
$849,900
$476
1,785
3/2
2
5,360
12 Corte De Vega
SOLD
$870,000
$379
2,297
3/3
2
4,545
8/11/20
10 Corte Ladino
SOLD
$849,000
$476
1,785
3/2
2
4,639
9/29/20
Sandbridge
4 Camino Lienzo
Seagarden 25 Corte Pinturas
Waterleaf No Activity
Wavecrest
Taleg a A verag e s Single Family List Price ACTIVE (11) $1,468,973 PENDING SALE (19) $1,459,500 SOLD (53) $1,256,811
SqFt DOM List $ PSF Sold Price Sold $ PSF 3,431 33 $430 3,551 39 $408 3,266 24 $369 $1,252,613 $387
Condo/Townhouse ACTIVE (3) PENDING SALE (11) SOLD (19)
SqFt DOM List $ PSF Sold Price 1,841 20 $366 1,567 15 $383 1,728 39 $392 $670,306
List Price $673,500 $599,821 $677,836
call us today , for a
COMPLIMENTARY
Sold $ PSF $393
home evaluation
9 | w w w.E c he l berger. co m
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 10.14.2020 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 8.1.2020 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 O C TO B ER
ORANGE COUNTY MARKET SUMMARY •
The active listing inventory increased by 20 homes in the past two-weeks, nearly unchanged, and now totals 4,173, its lowest level for mid-October since 2012. COVID-19 is not suppressing the inventory; in September there were 21% more homes that came on the market compared to last year. This trend evolved in August and continues to this day. Last year, there were 6,412 homes on the market, 2,239 additional homes, or 54% more.
•
Demand, the number of pending sales over the prior month, decreased by 101 pending sales in the past twoweeks, down 3%, and now totals 3,153. COVID-19 currently has no effect on demand. Record low rates are fueling today’s exceptional demand. Last year, there were 2,251 pending sales, 29% fewer than today.
•
The Expected Market Time for all of Orange County increased from 38 days to 40, a Hot Seller’s Market (less than 60 days). It was at 85 days last year, much slower than 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 29 days. This range represents 34% of the active inventory and 47% of demand.
•
For homes priced between $750,000 and $1 million, the expected market time is 27 days, a hot Seller’s Market. This range represents 18% of the active inventory and 26% of demand.
•
For homes priced between $1 million to $1.25 million, the expected market time is 42 days, a hot Seller’s Market.
•
For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the Expected Market Time increased from 48 to 55 days. For homes priced between $1.5 million and $2 million, the Expected Market Time remained unchanged at 61 days. For luxury homes priced between $2 million and $4 million, the Expected Market Time increased from 100 to 109 days. For luxury homes priced above $4 million, the Expected Market Time decreased from 315 to 194 days.
•
The luxury end, all homes above $1.25 million, accounts for 39% of the inventory and only 17% of demand.
•
Distressed homes, both short sales and foreclosures combined, made up only 0.5% of all listings and 0.4% of demand. There are only 12 foreclosures and 7 short sales available to purchase today in all of Orange County, 19 total distressed homes on the active market, up 3 from two-weeks ago. Last year there were 55 total distressed homes on the market, more than today. There were 3,336 closed residential resales in September, 30% more than August 2019’s 2,564 closed sales. September marked a 6% increase compared to August 2020. The sales to list price ratio was 98.4% 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 vis it u s o n lin e or call 949.498.7711 .
for more information on current oc housing market , visit our blog at
SIGN UP TO RECEIVE THE GREEN SHEET VIA EMAIL EVERY MONTH w w w.Ta l e g a G r e e n S h e e t .c o m | Your Source for Everything Real Estate
10 | w w w. Ec he l berger. co m
•
presorted standard us postage
PAID
permit#1007
302 N. El Camino Real, Suite 214 | San Clemente, CA 92672
santa ana, ca
FROM THE BLOG MOVE TOWARDS SUSTAINABLE LIVING If you’re looking to make a change and live a more eco-friendly lifestyle, one of the first things to look at is purchasing an eco-friendly home or equipping your home with sustainable technology.
READ more on the blog
12 CITIES FOR DIGITAL NOMADS If there’s one silver lining to 2020, it’s that now you know—and your boss knows, and their boss knows—you can work from just about anywhere. Look to any of these cities for a month of working vacation.
READ more on the blog
NOVEMBER CALENDAR OF EVENTS You can count on us to keep you informed with what is happening locally at any time of the year. This month’s calendar is full of fully online events that are both fun and unique, and many of them free of cost.
READ more on the blog
OVER 700+ SUCCESSFULLY CLOSED TRANSACTIONS IN TALEGA #Keeping ItR ealEstate in San Clemente Since 1994
Knowledge | Honesty | Integrity
DOUG ECHELBERGER
DRE#01176379 949.498.7711 Doug@Echelberger.com
Broker and agent do not guarantee accuracy of all data, including all measurements and calculations of area. Information is obtained from various sources and has not been, and will not be, verified by Broker or Agent of MLS. All information should be independently reviewed and verified for accuracy. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. If your property is listed with a real estate broker, please disregard. Each Office Is Independently Owned And Operated. Broker DRE #01767484 | Doug Echelberger DRE #01176379