Here are homebuying highlights for Lake Forest, Foothill Ranch and Portola Hills from ReportsOnHousing for October.
This house-hunting data tracks resales of existing detached and attached residences in the communities. Analysis includes October trends based on closed sales: sale counts; average price vs. average list price; high and low price paid in the month; average cost per square foot and average size; plus, based on broker listing networks stats on Sept. 7, the “market time” metric comparing supply of listings to new escrows opened in past 30 days.
Citywide, sales totaled 68 vs. 74 a year ago, or a decline of 8 percent. Here are 23 facts you should know about how homebuying broke down by community vs. countywide trends …
In Foothill Ranch …
1. Sales: 8 sold vs. 15 a year ago.
2. Average sales price: $667,813 that ranked No. 27 out of 46 Orange County markets tracked and was down 0.0 percent in a year.
3. Compared to list: Sellers got 100.2 percent of what they typically asked for, ranking No. 2 of the 46 markets.
4. Range: High sale of $915,000 vs. the $361,000 low.
5. Sizing: On average, buyers paid $379 per square foot on a 1,762 square-foot residence. This pricing metric was up 2.9 percent in a year.
6. Market speed: 23 days, listing to escrow opened vs. 43 days a year ago and 90 days two years ago.
In Lake Forest …
7. Sales: 54 sold vs. 57 a year ago.
8. Average sales price: $582,824 that ranked No. 37 out of 46 Orange County markets tracked and was up 0.8 percent in a year.
9. Compared to list: Sellers got 99.2 percent of what they typically asked for, ranking No. 7 of the 46 markets.
10. Range: High sale of $1,435,000 vs. the $250,000 low.
11. Sizing: On average, buyers paid $366 per square foot on a 1,592 square-foot residence. This pricing metric was up 5.8 percent in a year.
12. Market speed: 31 days, listing to escrow opened vs. 36 days a year ago and 53 days two years ago.
In Portola Hills …
13. Sales: 6 sold vs. 2 a year ago.
14. Average sales price: $492,317 that ranked No. 43 out of 46 Orange County markets tracked and was up 12.7 percent in a year.
15. Compared to list: Sellers got 98.7 percent of what they typically asked for, ranking No. 17 of the 46 markets.
16. Range: High sale of $675,000 vs. the $375,000 low.
17. Sizing: On average, buyers paid $413 per square foot on a 1,192 square-foot residence. This pricing metric was up 9.3 percent in a year.
18. Market speed: 11 days, listing to escrow opened vs. 30 days a year ago and 90 days two years ago.
Compare these patterns to five October trends we saw in all of Orange County …
19. Sales: 2,553 sold vs. 2,575 a year ago.
20. Average sales price: $868,090, up 10.4 percent in a year.
21. Compared to list: 98.4 percent.
22. Sizing: On average, buyers paid $464 per square foot — up 9.7 percent in a year — on a 1,870 square-foot residence.
23. Market speed, as of Nov 30: 62 days vs. 73 days a year ago and 75 days two years ago.
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