The Market was Down for the month of February for Orange County as a whole compared to last month, and Down from a year ago. The number of sales was virtually the same from last month and down by 45% from a year ago.
Current total inventory as of March 1st: 14,625 available homes for sale in Orange County, down by 725 homes (-5%) from last month at an average listed price of $839,248 down by $12,675 (-1%).
New listings taken in February 4,133 homes, Down by 539 (-12%) homes from last month at an average listed price of $1,009,798 - Up by $66,792 (+7%) from last month.
Sold in February: 977, Up by 2 homes, Virtually same from last month at an average sale price of $767,116 Down by $86,449 (-10%)
February 2008 average sale price for Orange County was Down by $141,648 (-16%) from the same time a year ago.
We sold 810 fewer homes (-45%) in February 2008 than a year ago and it took us 5 more days to sell them.
Orange County 3 years Average Sales Statistics for the past 3 consecutive months
Year 2006 -- 2007 -- 2008 December $893,486 -- $879,843 -- January $877,728 -- $973,921 -- $890,579 February $917,439 -- $908,764 -- $767,116
Average $896,217 -- $920,842 -- $779,179
Comments & Observations: Giving you a monthly statistics does not really tell the whole story. A more accurate way is to average at least the past 3 months. As you can see, Orange County showed an increase in value between 2006 and 2007, but dropped 15% in the past quarter of 2008.
Are you thinking of selling? I can still sell your home in less time and I can help you get the deal of your life, if you're buying!
Buying or Selling, you need an experienced agent. I have over 42 years of experience in Orange County and I know I can help you best! Call me at (800) 224-8983
This report is published at the beginning of each month and reflects the activities of the previous month. The research is done exclusively through the Multiple Listing Service. Figures for the previous month may have been re-adjusted by MLS.
Approximate Location Boundaries: South of Los Angeles, North of San Diego & West of Riverside Counties
Location Characteristics: I can honestly say that living in Orange County is better than living on the Italian or the French Riviera. From our beautiful beaches to the Mountains of San Bernardino is just an hour's drive where in some winter months you can literally snow ski on the mountains and come back the same day to water ski in the ocean. That's because our weather is almost perfect all year round.
You can take a leisurely drive from one end of the County to the other on Pacific Coast Highway from Seal Beach to San Clemente in about 2 hours. You'd be going through Huntington Beach, known world wide as Surf City, which is known for its annual National Surfing competition. Then you'd be driving through opulent Newport Beach. A few minutes later you'll find yourself in one of the most beautiful coastal towns in the world: Laguna Beach. Laguna Beach is well known for its artists and the yearly "Pageant of the Masters", the "Saw Dust Festival" and many other art exhibits. Going past Laguna Beach you'll be heading towards Laguna Niguel, a relatively new community but with absolutely stunning homes and beaches. It's also home to the 5 star Ritz Carlton hotel & resort. Next is the community of Monarch Beach, a Dana Point Community. Then you'll drive through Dana Point, known for its yachts harbor and wonderful restaurants and finally to San Clemente with its small town atmosphere and un-crowded beaches. To read more about Orange County and all its cities, log on to my web site.
I have been selling Orange County homes for over 40 years. I'll be delighted to help you sell your existing home or find you a new one.
About Charles Mansur:
Charles Mansur is a broker/owner for Castle Realtors and has been serving Orange County for the past 40 years. He currently has offices in Huntington Beach, Mission Viejo & San Clemente.
Charles offers his clients a most unusual guarantee: "If at the conclusion of your transaction you were not 100% satisfied with the way I conducted my business I will give you back up to half of my commission or the portion you did not feel I deserved to keep, even if the commission was paid by someone else."
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
