INVENTORY LOW ~ CLOSING UP ~ PRICE UP MODESTLY

Inventory DOWN 31.9% (Active at Beginning of the Month)

• Defined as the average number of Active Listings at the beginning of each month;
• December 1, 2017 was down 31.9% from December 1, 2016.
• Translation: Fewer owners were interested in Selling

New Listings DOWN 5.1%

• Exclusive if Outliers new listings were down 5.1%

Closings Up 7.7%:

• The number of homes that Closed Escrow ended 2017 UP 7.7% (exclusive or outliers) over 2016.

Prices on average were:

• Up 4.2% - prices of the smaller sized homes in each community were up an average of 4.2%.
  • We look at most market areas as a defined square footage range.
  • In Foothill Ranch as an example, we are only comparing single family homes in the square footage range of 1,500 sf to 3,000 sf.
  • This range is then divided into a lower and an upper group to compare simialr home segments.
• Up 3.5% - prices of the larger homes in each community were up an average of 3.5%
  • Chapman University has historical data that shows since 1981 home values have averaged an increase of 2% over GDP.
• Based on the Chapman data the 2017 increases do not appear to be inflationary or out of line.

Best and Worst Performers in the Data

All of the categories had WIDELY Varying results.

Active at the Beginning of the Month

• Foothill Ranch SFR's were UP 87% / Stonegate Condos (Irvine) DOWN 57.3%
• 15 out of 18 communities or 87% of the communities were DOWN for the year.

New Listings

• Portola Hills SFR's were UP 34% / Turtle Rock SFR DOWN 24%
• 11 out of 18 communities or 61% of the communities were DOWN for the year

Closings

• Portola Springs SFR's were UP 57% / Woodbridge Condos were DOWN 17%
• 4 out of 18, communities were down, were unchanged or 22.2% of the communities were DOWN for the year

COMPLETE COMMUNITY REPORTS

Year End Result for 2017 by community.

Each is a full report for the specific neighborhoods. If you want to discuss the Year-end Results, please contact us. It would be our pleasure to share them. You can find the SUMMARY TABLES at this link.

CLICK on each link to review a community:

1. Newport - West Bluff / SAH SFR          Single Family Residential (SFR) 
2. Irvine - Turtle Rock.........SFR             1500 sf  & larger 
3. Irvine - Turtle Rock.........Condo        1100 sf & larger
4. Irvine - Woodbridge........SFR             1500 sf & larger
5. Irvine - Woodbridge........Condo        1400 sf & larger
6. Irvine - WestPark............SFR             900 to 3200 sf
7. Irvine - StoneGate...........Condos      1500 sf & larger
8. Irvine - Portola Springs....SFR            1500 sf & larger
9. Irvine - Portola Springs....Condo       1500 - 3000 sf
10. Foothill Ranch.................SFR            1500 sf & larger
11. Portola Hills....................SFR            1500 sf & larger
12. Coto de Caza...................SFR             $600,000 to $999,000
13. Coto de Caza...................SFR             $1,000,000 to $2,000,000
14. Ladera Ranch .................Condo        1100 to 1800 sf
15. Ladera Ranch..................Condo        1801 sf & larger
16. Ladera Ranch..................SFR             1500 to 3000 sf
17. Ladera Ranch..................SFR             3001 to 4650 sf
18. Baker Ranch..................SFR             1500 to 4000 sf