All of Orange County October 2011 vs. Prior
Month vs. Prior
Year
Total Homes on Market (Current Actives) 9,582 - 5.8% -
Homes Coming on Market (New Listings) 3,064 - 3.2% -8.7%
Homes Going Under Contract in Past 30 Days (Pending) 1,155 +6.9% +18.5%
Homes Closed in Past 30 days (Closeds) 1,874 -7.5% -11.3%
Average Days on Market for Homes Closed 104 +4.8% +6.7%

In short,

Versus September 2011, October’s numbers continue to slow, with fewer homes on the market, fewer homes coming on the market and fewer homes closing escrow. More homes are starting escrow though than the prior month.
Compared to one year ago, fewer homes are coming on the market and close escrow, continuing the trend from the past couple months.
Average days on the market in October continue to be higher than the prior month and prior year.

The California Market
From the California Association of REALTORS®

September 2011 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)
September 2011 Median Price of Existing
Single-Family Homes Sales
State/Region/County September August 2011 September MTM%
Chg YTY%
Chg MTM%
Chg YTY%
Chg
2011 2010
California
Single-family (SAAR) $287,440 $297,060 $313,460 -3.2% -8.3% -2.1% +4.1%
California
Condo/Townhomes $225,590 $228,060 $248,050 -1.1% -9.1% -16.3% -4.0%
Los Angeles
Metropolitan Area $273,650 $275,100 $295,230 -0.5% -7.3% -2.6% +4.7%

September 2011 Median Price of Existing
Single-Family Homes Sales
Southern California September 2011 August 2011 September 2010 MTM%
Chg YTY%
Chg MTM%
Chg YTY%
Chg
Los Angeles $330,610 $312,900 $355,900 +5.7% -7.0% +3.5% +1.5%
Orange County $500,000 $508,910 $557,390 -1.8% -10.3% -2.6% +4.7%

In short,

Overall home prices and number of sales in the state and the LA 5-county region continue to fall – one notable exception is the price of homes in LA County has made a moderate rise over the past month and past year, and the number of homes sold has risen slightly since the same month last year. This shows signs of the bottom of the market and buyers coming in to take advantage of low prices.

2011 County Unsold Inventory and Median Time on Market
(Regional and condo sales data not seasonally adjusted)
September 2011 Unsold Inventory
Index (months) Median Time
on Market
State/Region/County September August 2011 September 2010 September August 2011 September 2010
2011 2011
California Single-family (SAAR) 5.1 5.0 5.9 54.4 52.7 50.3
California Condo/Townhomes 6.1 5.2 6.8 65.3 58.3 54.8
Los Angeles Metropolitan Area 5.5 5.4 5.8 59.8 56.0 46.0

September 2011 Unsold Inventory
Index (months) Median Time
on Market
Southern California September 2011 August 2011 September 2010 September 2011 August 2011 September 2010
Los Angeles 5.5 5.5 6.0 57.1 54.2 46.8
Orange County 6.4 6.6 7.4 94.1 81.3 72.3

In short,

Unsold inventory is decreasing as less homes are coming on the market.
Meidan time on the market has jumped in Orange County and increased slightly for the LA Metro area and California single-family homes and condos. It fell slightly for LA County.

Other Bullet Points:

Salute to our Veterans! – Veteran’s Day is Friday, November 11. Veterans can get excellent deals on VA Mortgage Loans. Call or email me for details.
Mortgage Rates is slightly off the lows – 30-year fixed rate is at 4.06%, a .09% rise since this time last month. The 15-year fixed is at 3.37%, up from 3.26% in our last newsletter.
at historic lows – 30-year fixed-rate loan fell to 3.94% this week for the first time since Freddie Mac started records in the early 1970s. The 15-year fixed-rate mortgage also hit a record, falling to 3.26%. Yields on the benchmark 10-year U.S. Treasury bond, is at 2.02%, slightly higher than again than last month.
National Association of REALTOR(S) Pending Home Sales Index continue to delcline, but activity is higher than a year ago. More signs that buyers are swooping in to take advantage of low home prices. More details at http://www.realtor.org/research/research/phsdata.

Questions? Call 949/891-1256 or email changhomes@gmail.com

Find This Email Helpful?
Don’t miss an issue. Whether you are looking to buy or sell a home now, or just want to keep tabs on the market, the SoCal Real Estate Roundup provides the latest information in a short, succinct, easy-to read format. No frills, just the facts. Quick 5-question signup at http://eepurl.com/euT12 – No Spam, and we don’t share or sell our lists.

P.S. If you or anyone you know is thinking about buying or selling real estate anytime soon we would be honored to serve. Please ask them to contact us or let us know how we may contact them today.

In short,

• Summer
  selling season is coming to a close: number of actives and new stings
  continue to fall. Homes listed during the summer are going under contract
  and closing
• Fewer
  homes coming on the market versus last month and year.

The California
Market

From the California
Association of REALTORS®

July 2011 County Sales and Price Activity

(Regional and condo sales data not seasonally adjusted)

In short,

• Home
  prices in the OC and LA are down from last year, but up slightly from last
  month
• Home sales
  decreased throughout the LA area, including LA and OC counties

2011 County
Unsold Inventory and Time on Market

(Regional and condo sales data not seasonally adjusted)

In short,

• Unsold
  inventory jumped in OC in July; Median time on the market also jumped.
• California
  has a 5.5 months’ inventory of unsold homes, LA Metro and LA County have
  5.8 months, and OC has 7.5 months unsold inventory!

Other Bullet Points:

• Mortgage
  Rates – LATE ENTRY!: Freddie Mac states 30-year fixed mortgage rates at
  4.12%, the lowest since they’ve started tracking rates in
  1971, via Bloomberg News Service, 9/8/2011. There is no better time to buy
  a home or refinance your home than now – give me a call and we’ll help you
  take advantage of this rare opportunity!
• Pending
  home sales declined 1.3% in July but remain well above year-ago levels,
  according to the National Association of Realtors®. All regions show
  monthly declines except for the West, which continues to show the highest
  level of sales contract activity.

Questions?
Call 949/891-1256 or email changhomes@gmail.com

Find
This Email Helpful?

Don’t miss an issue. Whether you are looking to buy or sell a home now, or
just want to keep tabs on the market, the SoCal Real Estate Roundup provides
the latest information in a short, succinct, easy-to read format. No frills,
just the facts. Quick 5-question signup at http://eepurl.com/euT12 – No
Spam, and we don’t share or sell our lists.

P.S. If you or anyone you know is thinking about buying or selling real estate
anytime soon we would be honored to serve. Please ask them to contact us or let
us know how we may contact them today.

My Gift to you is … a view of current market stats for Orange County! Let’s keep it short and sweet–

For Residential Homes…

In short …

• Fewer homes are on the market versus a month and a year ago
• More homes have accepted offers, but fewer of them are closing than a month and a year ago
• Homes stay more time on the market than a year ago – about 3 months.

For details or more information, you can contact me at changhomes@gmail.com.

And if there is someone you know who wants to buy or sell a home, investment property or other real estate, please contact me at 949-891-1256 or via email at changhomes@gmail.com.

Have a fabulous Father’s Day weekend!

Source: SoCalMLS