Is the bottom closer than we think? Market Data, Market Report 2006 – 2007 Orange County Real Estate County Comparison

Orange County Real Estate Marketing Report, Market Data based on Price Per Square Foot for 2006 vs. 2007 “ County by County Comparison “ Desert Areas (Palm Springs, etc¦) Cities included Aliso Viejo, Anaheim, Anaheim Hills, Brea, Buena Park, Corona del Mar, Costa Mesa, Coto de Caza, Cypress, Dana Point, Fountain Valley, Garden Grove, Huntington Beach, Irvine, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, La Habra, Lake Forest, La Palma, Los Alamitos, Mission Viejo, Newport Beach, Newport Coast, Orange, Placentia, Rancho Santa Margarita, Rossmoor, San Clemente, San Juan Capistrano, Santa Ana, Seal Beach, Stanton, Tustin, Villa Park, Westminster & Yorba Linda.

This has turned out to be a very exciting report  this month.   I was curious to see what the œreal numbers were because running them month to month doesn™t give you the big picture of the market. Although I love roller coasters, I don™t care for those rides in business. 

My source for these numbers is a program called Market Trends, and it is an exclusive program courtesy of Bankers Funding & First Team Real Estate. The program pools this information from the various MLS™s in these areas and the information is as fresh as it gets as the information is updated nightly, unlike other popular programs.

County by County Comparison

What™s going on with other counties and how are they holding up compared to each other?   These numbers are based on every property reported to the MLS as SOLD and their price per square foot averaged over the entire year. (2006-2007)   The number in the right hand column is the “absorbtion rate”.   (How many months it would take to deplete the inventory supply if no new homes came on the market.)

Desert Area™s                                         down 6%                                      $319 – $300                   18.2

San Diego County                             down 5%                                     $521 – $492                   9.9

San Bernadino County                 down 12%                                 $269 – $237                   16.7

Riverside County                                 down 6%                                     $314 – $296                   17.6

Los Angeles County                         down 2.5%                               $435 – $424                   12.7

Orange County                                   increased 1.5%             $532 – $540                 8.7

***Every County has its own plethora of markets within its boundaries. Just like every area in Southern California has its own micro-climates, real estate is extremely local! So, since Orange County is my zone in this wonderful Golden State, I have broken these same numbers down by cities within Orange County. ***

Aliso Viejo                                         down 7.8%                               $396 – $365                   4.9

Anaheim                                               down 17%                                 $378 – $313                   12.8

Anaheim Hills                                  down 7%                                       $372 – $345                   5.9

Brea                                                         down 8%                                       $373 – $343                   8.0

Buena Park                                       down 6%                                     $377 – $354                   10.0

Corona del Mar                           down 0.7%                                   $958 – $951                   9.5

Costa Mesa                                     down 8%                                        $473 – $437                   9.2

Coto de Caza                               down 6%                                          $397 – $373                   9.5

Cypress                                               down 6%                                          $376 – $353                   5.4

*Dana Point                                 increased 2%                        $571 – $583               10.4

Fountain Valley                           down 6%                                           $381 – $357                   5.4

Garden Grove                               down 8%                                          $383 – $353                   10.2

Huntington Beach                    down 4%                                             $495 – $472                   6.6

Irvine                                                      down 3%                                               $454 – $439                   6.5

*Laguna Beach                     increased 2%                               $987 – $1010             12.5

Laguna Hills                                   down 7%                                                 $400 – $372                   8.9

Laguna Niguel                             down 6%                                                $437 – $409                   7.6

Laguna Woods                         down 7%                                                   $285 – $265                   6.2

La Habra                                            down    7%                                                 $372 – $344                   11.1

Lake Forest                                   down 10%                                               $394 – $355                   8.1

La Palma                                            down 6%                                                   $370 – $347                   7.7

Los Alamitos                               down 7%                                                   $409 – $381                   5.7

Mission Viejo                               down 8%                                                   $383 – $352                   4.1

*Newport Beach                 increased 2.6%                            $725 – $744                 11.1

*Newport Coast                  increased 7%                                 $707 – $760                 10.3

Orange                                                 down 9%                                                 $398 – $361                   8.9

Placentia                                             down 8%                                                  $362 – $334                   8.5

Rancho Santa Margarita           down 7%                                        $380 – $354                  6.1

Rossmoor                                         down 8%                                                $480 – $443                   5.9

San Clemente                               down 2.6%                                            $489 – $476                   9.8

San Juan Capistrano            down 6%                                                  $412 – $386                   10.7

Santa Ana                                        down 8%                                                   $408 – $373                   15.5

Seal Beach                                       down 10%                                               $508 – $456                   7.9

Stanton                                              down 10%                                                 $390 – $349                   9.8

Tustin                                                  down 8%                                                    $412 – $379                   8.4

*Villa Park                                    increased 0.5%                              $394 – $396                 12.6

Westminster                                 down 6%                                                   $391 – $366                   9.1

Yorba Linda                                   down 7%                                                   $382 – $356                   7.6

***Yes folks, that™s five cities posting overall gains in price per square foot¦ Are we nearing the bottom? Or is this an anomaly, five times over?

If you would like to get your Orange County home SOLD in 30 days or less, call me at (949) 500-0482.  

Buyers, tired of weeding through the choas?   Call me to find the hottest buys in the area you are interested in.   We have them identified already!  

Orange County Real Estate   When will the market hit bottom?   Market Data, Market Report 2006-2007 County by County Comparison   City by City Comparison

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