Median Sales Price Continue To Fall In Aliso Viejo

By
Real Estate Agent with REALTY ONE GROUP 01482941

Even though list price have risen most of this year, Sales Prices continue to fall in Aliso Viejo.  Sales volume was very high in June – 51% above the long term average!

 

 

Month

Median Sales Prices

6 Month Moving
Average

Sales

Jan-2012

$  372,167

51

Feb-2012

$  363,500

51

Mar2012

$  352,250

82

Apr-2012

$  343,917

91

May2012

$  347,917

120

Jun-2012

$  343,750

113

 

Half of all Sales in June were below $345,000 in Aliso Viejo. There have been tons of condos and town homes that continue to Sell in this Price range.  Even though properties below $350,000 only make up 20% of the Active listings, they were 50% of June’s Sales!  This is because that Price range Sells so fast, the properties are simply not on the Market.  If You blink, they are gone.

The second reason for the poor Median Sales Price is the volume of short sales, that have been waiting months for approval, are finally closing escrow.  Many of these had offers accepted from December 2011 through March 2012!  I believe the “Price picture” will correct itself as less short sales “enter the pipeline” waiting for approval.

 

July 24, 2012 - - - Alright, we’ve added 5 Homes to the Aliso Viejo Market over the last 15 days.  Today we have 70 residences for sale, without an accepted offer!  This gives Buyers the tiniest bit of breathing room.

 

According to Steven Thomas, as of July 19, Aliso Viejo’s Market Time is down 11% since July 5, to 0.62 Months!  With expected Market Time below one month, competition is so fierce that many homes generate over 10 offers!

 

A little good news for Buyers:  A few more places below $350,000 are available.

 

Aliso Viejo Listings by Price as of July 24:

Less than $350,000 = 14 residences - 20%, up 5 percentage points since July 9!

$350,000 - $475,000 = 15 - 21%, down 4 points!

And > $475,000 = 41 - 59%, down 1 point!

 

Demand in Aliso Viejo remains very high at 105 new escrows per month!

 

A few more short sale listings have appeared in Aliso Viejo.

 

Aliso Viejo Listings by Type, as of July 24:

Regular listings = 54 – 78%, down 2 percentage points since July 9.

Short sales = 13 - 19%, up 4 points!

Bank-owned foreclosures = 2 – 2.9%, down 1.7 point!

Orange County Real Estate Sales

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Mark Raymond Godleski

REALTOR - (949) 330-3320
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