Corona Del Mar and Newport Coast Real Estate

Corona Del Mar Real Estate - Harbor View

Current Report:  Dec. 31, 2009

1. There are currently 27 Properties Listed For Sale in the Corona Del Mar Harbor View area.
2. Average List Price per sq. ft. =  $806.33 (A Decrease)
3. Average sq. ft. of Properties for Sale = 2,792
4. Average Days On Market = 135 (An Increase)
5. There are currently 1 Properties that are "Pending" Sale
6. There have been 7 Properties Sold since Oct. 1, 2009
7. Average Sold price per square foot = $718.97 (An Increase)
8. Average Sold Price as a % of List Price = 98.04%
9. Average Sold Price as a % of Original List Price = 91.58%

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Current Report:  Dec. 31, 2009

1. There are currently 22 Properties Listed For Sale in the Corona Del Mar Spyglass / Harbor Ridge Area.
2. Average List Price per sq. ft = $627.63 (A Decrease)
3. Average sq. ft. of Properties for Sale = 3,975
4. Average Days On Market = 155 (An Increase)
5. There are currently 2 Properties that are "Pending" Sale in Harbor Ridge.
6. There have been 5 Properties Sold since Oct. 1, 2009
7. Average Sold price per Square Foot = $598.06
8. Average Sold Price as a % of List Price = 94.32%
9. Average Sold Price as a % of Original List Price = 88.17%

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Current Report:  Dec. 30, 2009

Corona Del Mar Real Estate - The Village

1. There are currently 96 Properties Listed For Sale in the Corona Del Mar - Village Area.  (A Decrease)
2. Average List Price per sq. ft. =  $1,413.97 (An Increase)
3. Average sq. ft. of Properties for Sale = 2,343
4. Average Days On Market = 137 
5. There are currently 6 Properties that are "Pending" Sale
6. There have been 31 Properties Sold since Oct. 1, 2009 (Steady)
7. Average Sold price per square foot = $677.01(An Increase)
8. Average Sold Price as a % of List Price = 92.99%
9. Average Sold Price as a % of Original List Price = 86.37%

Corona Del Mar Real Estate -Village Area   Yearly Totals 2009

1. There have been 87 Properties Sold during the year 2009
2. Average Sold price per Square Foot = $715.21
3. Average Sold Price as a % of List Price = 92.50%
4. Average Sold Price as a % of Original List Price = 86.01%

It's a Merry Christmas for many people Buying Real Estate this year... Sales Activity is up again for November, prices remain low, interest rates are as low as can be and all the First Time Buyers get a nice rebate.... Merry Christmas!! Existing home sales are still on the rise and inventories are back down to more normal levels. Here are the numbers:

Existing-home sales - including single-family, townhomes, condominiums and co-ops - rose 7.4 percent to a seasonally adjusted annual rate of 6.54 million units in November from 6.09 million in October, and are 44.1 percent higher than the 4.54 million-unit pace in November 2008. Current sales remain at the highest level since February 2007 when they hit 6.55 million.

Total housing inventory at the end of November declined 1.3 percent to 3.52 million existing homes available for sale, which represents a 6.5-month supply at the current sales pace, down from an 7.0-month supply in October. Raw unsold inventory figures are 15.5 percent below a year ago. The last time there was a lower supply of homes on the market was April 2006, when it was at a 6.1-month supply.

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Some new reports out recently... though nothing really un-expected. We all know that the recovery is "Fuzzy" to say the least. Most experts seem to agree that the "Worst" should be in the rear view miror now, but how long the hangover lasts... well that's the question. News changes daily, and the economy in general is still fairly weak. In Corona Del Mar, Inventory is Down from the peak and activity did pick up slightly over Summer, however, prices remain at lows. In Newport Coast, about the same, only the activity has been lower. In light of that, Home Prices rose nationwide on average in the third quarter. Some signs that the Real Estate Markets are slowly shaking off some of the dust. Here is a clip on that report...

Home prices rose 0.2 percent nationwide in the third quarter compared with the second quarter, according to the Federal Housing Finance Agency's (FHFA) seasonally adjusted House Price Index (HPI). Seasonally adjusted home prices declined 3.8 percent in year-over-year comparisons.  FHFA's seasonally adjusted monthly index for September was unchanged from August. The monthly change for the July-to-August period was revised to
-0.5 percent, from an initial estimate of -0.3 percent.

There are two indicators I like to watch. Sales Activity (Including Prices, Sales and Pending) and Construction Starts. The other report that is out, shows Construction Starts far below average. Builders are waiting to see the inventory clear up, and Sales Activity pick up before they will start large scale building again.

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