Month: February 2024

Real Estate is Seasonal

We have a seasonal market.
Every year our median prices fluctuate.  Last year more expensive properties closed escrow in August.  The median price is the price in the exact middle of all the sold prices. This is informative and better than an average price calculation.  If there is one home that sold for over $20 million, the average price goes way up.  The median price could have remained the same. Would you like to see the full report?  Full Report details In this report, you can access the listings for each of the last 12 months. There is a field for the month below the graph in which you select the month and the sold listings for that month will appear. If you click on an address, you will see on the map to the right, a box with the first picture of the home and some details.  If you click on “Detailed Listing”, then you will see all of the pictures and more information.  Of course, these properties have sold and you can no longer visit them.  But if you like a neighborhood and the price range fits your budget, I can show you others. What are the active listings in Laguna Niguel today?  Active Listings There are 43 listings.  The most expensive is 13 Old Ranch Road.  This iconic home is over 15,000 square feet with six bedrooms, 6 full bathrooms, 4 half bathrooms, and a panoramic, ocean view.  Tim Smith of Coldwell Banker listed this home eight months ago but homes of this size, price, and unique decor are usually on the market for some time.  It is beautiful.  13 Old Ranch You have over 13 acres of land to enjoy.  No neighbors on any side.  If this fits your budget, please give me a call. 949 230-1834.

Inventory Low, Prices High, Interest Rates Uncertain

Inventory has steadily decreased over the last five years.( (InfoSparks February 2024 based on MLS data).

The decrease in inventory over the last five years has resulted in prices increasing and staying high.  Interest rates matter and they will force some buyers out of the market; however, there is an underlying demand for housing as long as the population is steady or increasing, employment remains steady, and unemployment is low.  Our country is unrelentingly optimistic and refuses to accept defeat.  We can expect great things.

Prices?  These are rising.

Over the last five years, prices have increased. (InfoSparks February 2024 based on MLS data).

Prices have increased overall in the last five years but there was a spike that took place after COVID-19.  That rate, fortunately, did not continue.  Prices typically take a step up in the first five months of the year, then level off and possibly sink a little at the end of the year when properties that have languished on the market have decided their price is above the condition it warrants.  The market is still rational.

This chart shows the number of new listings (brown) in each of the last 12 months versus the closed sales for that month (gray).  The months of December,  January, and February flip and flop. January makes up for the sales lacking in December.  What do you think after looking at the chart?  Most listings sell!  The market is absorbing the new listings.  There is no trend downward.  Listings are not sitting on the shelf.  Prices should stay high and continue to increase.