Over the last three months inventory of single family homes and condominiums has gone up significantly. In almost every city there is a sharp increase in inventory at this time.

In many South Orange County cities the public data for September 2009 shows that the average home price went up.  When I looked closer at the data, it showed that larger homes were selling faster than over the previous months in several markets.  In almost every market the inventory has been reduced from previous months.  Im most markets locally, it appears that the past year, high season (typically late Spring through Summer) was more pronounced than usual, with higher highs, but also lower lows in the off season.

 Tuesday, September 01, 2009

It has become increasingly difficult to find comparable sales for appraisals in Laguna Beach, especially for condominiums in the village.  Terradatum and Dataquick show flat pricing in 2008 and a steep decline in the first half of 2009.  The data points are few and there is significant variation (view, age, size, location) so it can very missleading.