2007 Annual Orange County Real Estate Trends

ANNUAL TRENDS
 Aliso Viejo
 Corona del Mar
 Coto de Caza
 Dana Point
 Irvine
 Laguna Beach
 Laguna Hills
 Laguna Niguel
 Laguna Woods
 Lake Forest
 Mission Viejo
 Newport Beach
 Newport Coast
 Rancho Santa Margarita

Last year was another tumultuous year for real estate in Orange County. Sales of single-family, re-sale homes was down 23% from 2006. Although the median price for homes gained 0.2%, this was mostly illusory as the statistical median price was kept high because an increasing share of the homes sold were over $1,000,000.

In reality, the entry-level market has been devastated. This has, of course, wreaked havoc on the move-up market.

We don't have the numbers for Orange County, but in San Diego County, the number of homes sold last month that were bank-owned was 30% of the total.

We expect that once the bank-owned properties work themselves out, the market will re-gain some stability.

For full details on the individual cities in the county, click on the city name in the menu to the left.

Orange County
(All Property)
	Median Price	Number Sold	% Change
			Median	Sold
2004	$522,000	47,737	25.6%	-12.8%
2005	$593,000	48,883	13.6%	2.4%
2006	$627,000	35,728	5.7%	-26.9%
2007	$618,500	27,294	-1.4%	-23.6%

 

Orange County
(Re-sale Single Family Homes)
	Median Price	Number Sold	% Change
			Median	Sold
2004	$565,000	28,578	25.6%	-12.8%
2005	$647,000	29,618	14.3%	2.9%
2006	$686,000	21,417	6.0%	-27.7%
2007	$687,500	16,499	0.2%	-23.0%

 

Orange County
(Condos/Townhomes)
	Median Price	Number Sold	% Change
			Median	Sold
2004	$379,000	13,140	28.7%	-11.1%
2005	$434,000	14,247	15.1%	5.6%
2006	$455,000	9,399	4.8%	-34.0%
2007	$447,000	6,751	-1.8%	-28.2%

 

Orange County
(New Single Family Homes)
	Median Price	Number Sold	% Change
			Median	Sold
2004	$629,250	5,775	15.2%	-14.8%
2005	$721,000	5,018	11.1%	-7.9%
2006	$697,000	4,912	-3.3%	-2.1%
2007	$596,500	4,044	-14.4%	-17.7%

ARTICLES
Future Trends
We examine the factors affecting the Orange County real estate market for the foreseeable future.
C.A.R. Report
The California Association of Realtors latest press release.
Home Inspections
Do not buy a home without one!
Agency:
Who Works for Whom
Title:
Who Gets What When
Buying:
Get Your Ducks in a Row
Selling:
It's What You do Before You Sell that Makes the Difference
Points vs. Rates:
How to shop for a loan
Myths of Buying New Construction
New homes are popular. Over 16,000 building permits were issued last year. But, buying a new home has its tricks.