pearl coast properties

pearl coast properties

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NEWPORT COAST LOCAL REAL ESTATE MARKET (SEPTEMBER)

NEWPORT COAST LOCAL REAL ESTATE MARKET
California Association of Realtors August Report: "July home sales climb to highest
level in nearly three years as prices remain near recent high. Existing, single-family
home sales totaled 449,530 in July on a seasonally adjusted annualized rate, up 2.7
percent from June and 12.7 percent from July 2014.- July statewide median home
price was $488,260, down 0.3 percent from June but up 5.4 percent from July 2014"
Again I must say, our local Newport Coast market is still continuing to have the same
trends as last year. 18 homes sold in August 2014 (8 of which were on the market
100+ days) and 10 in from August 2015. Pearl Coast Properties Economic Forecast
in August is on target. Newport Coast is still experiencing strong foreign buyers
because as economist call it, "Flight-to-Quality". "Flight-to-Quality" is when during
periods of economic or political uncertainty, the flow of money goes from risky assets
toward safe ones. Investors seek safe assets to protect their principal investments,
and to shield against loss. The great USA is a safe place! and China is experiencing
uncertainty. As said before Newport Coast is a world renown coastal community.
Are interest rates going to increase? The Feds meet in mid September. The late
August volatile stock market and the strong dollar (investments in US Bonds) can
keep rates down, but the recent job growth could increase rates. There is an overall
current volatility in the economy as seen on Wall Street and events

NEWPORT COAST HOME SALES FORECAST 2016

NEWPORT COAST LOCAL REAL ESTATE MARKET/FORECAST (8/15/15)

Our local Newport Coast residential sales market continues trending the same as last

year. In May 1, 2014 to August 9, 2014, 93 homes sold with 50 of these homes selling

within 60 days. In May 1, 2015 to August 9, 2015, 98 homes sold with 43 of these

homes selling within 60 days. Home sales prices rose on average to approximately

$200,000 from January 2014 to August 9, 2015. This was an increase on average

approximately $100 per square foot. This increase was taken from St. Michel, Tesoro,

Montserrat, Rivage, Pacific Ridge and Pelican Crest communities in Newport Coast.

(This analysis is based on my knowledge of these homes and comparing like for like properties

such as square footage, views and premium lots. Data for analysis is from the CRMLS)

FORECAST:

The number of sales by month compared to last year will continue the same pattern

as 2014. The highest inventory of homes is now through September. Some sellers

want to capture a sale before the end of summer and the start of the school year

resulting in a decrease in asking prices. Again, this was the same pattern in 2014. .As

the market slows down in real estate activity starting in November through the holiday

season, home prices will continue to stabilize with a slight increase in February 2016.

Economics 101 always goes back to consumer confidence. It is strong. My

anecdotal data seems to support that many more friends in Newport Coast took

longer and/or more expensive vacations this year. There may be an impact of the

projected increase in interest rates lowering the buyer pool and stabilizing housing

prices. However, Newport Coast is a desired community for investors worldwide

which will help counter the impact of higher interest rates.

LUXURY NEWPORT COAST REAL ESTATE LOCAL MARKET UPDATE

JULY 7, 2014: HEADLINE- PRICES HAVE STABILIZED AND HAVE GONE DOWN APPROXIMATELY 10% FROM APRIL OF THIS YEAR.  THE PRICE REDUCTION IS DUE TO THE FLOOD OF HOMES THAT CAME ON THE MARKET IN MAY AND THE LOWER THAN USUAL BUYER DEMAND POOL.  HOMES SALES ARE STARTING TO INCREASE SLIGHTLY BUT HALF THE NUMBER OF SALES SINCE JUNE OF LAST YEAR! 

LUXURY NEWPORT COAST HOME FOR SALE, 2 SEYNE

NEWPORT COAST HOME FOR SALE IN NEWPORT RIDGE NORTH, 2 SEYNE. OFFERED AT $2,380,000. COME DISCOVER!!!

 

NEWPORT BEACH/CORONA DEL MAR/NEWPORT COAST REAL ESTATE TODAY!

A year ago today to late Spring homes were selling within 5 days all cash with mostly foreign investments.! Low inventory caused the residential homes prices and rentals to sky rocket up.  Today, homes are listed on the market at all time highs!  Sellers and Investment Property Owners are trying to capture this run up.  Homes are staying on the market longer now do to the jump. There is also less all cash transactions.  In a nutshell, the run up in prices have now stabilized as more homes have come on the market.   The increase in interest rates and the recent negative news of late on China's economic indicators has had some impact.

I wonder if my April  listing for a 1,950 s.f. home at $1.4 million in St. Michel  and my sale of 12 Bandol, the highest sale for a 4 bedroom in Aubergine, has motivated current owners to list their home for higher prices?

 

Referrals are appreciated!!!

P E A R L Coast Properties (949) 307-1335

12 Bandol, Newport Coat

 

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