2012 market report: orange county condos
DESCRIPTION
A summary of the 2012 Irvine Highrise Condo Market and Veronica Hicks 2012 Transactions.TRANSCRIPT
The Definition of Luxury!
Call, Text or eMail:Veronica HicksBroker and REALTORCell: 714-336-5551eMail: veronica@condosetc .com
As a Resident REALTOR® of these Luxury High Rise Towers and theleader in community resale and lease transactions, I am committed to domy part in helping to keep these home prices up. I have watched themarket ups and downs with the same concern as these communityhomeowners, In hopes that we are past the market bottom.
All indicators are pointing toward market improvement. As readers willnote in the enclosed stats, there are a few factors that are drivingimprovement.
• fewer distressed property sales in our community• a lower level of inventory available as homeowners hold off on selling• all time low interest rates• continued stabilization of the high rise market
As we go into 2013 we should see a continued demand that outpaces theavailability for homes the area High Rise Communities that will hopefullycontribute to continued price improvement. We will cautiously watchwhat will happen with neighboring Astoria and Skyline – when they willsell -- and look forward to the benefits of an improved economicenvironment.
If you would like to know what these stats mean to you, whether buying selling orleasing please don’t hesitate to call. There are developments planned for the next fewyears that might impact your decision to sell or lease. If you want to evaluate youroptions, call me today.
Call, Text or eMail:Veronica HicksBroker and REALTOR®Cell: 714-336-5551eMail: [email protected]
Facebook.com/condosetcYoutube.com/condosetc@Condosetc
©Copyright Condos etc™ 2010 - 2011
High Rise Community Stats
2012 SummaryThe Plaza Irvine3000 the Plaza
Marquee at Park Place
Veronica HicksCell: [email protected]
Todd JonesCell: [email protected]
PlazaIrvine
3000 thePlaza
MarqueeAt ParkPlace
OC CondoMkt
Average Sale Price $982,328 $1,010,300 $540,587 $333,805
Change from 2011 Up 6% Up 2% Up 24% Up 6%
Number Sold 18 20 21 10,197
Change from 2011 Up 20% Up 33% Down 43% Up 17%
Average Price per Sq Ft $463 / sf $487 / sf $351 / sf $249 / sf
Change from 2011 Down 2% Down 2% Up 25% Down 4%
Days Listed 131 142 18 94
Change from 2011 Down 11% Down 4% Down 522% Down 9%
% Distressed Listings 50% 5% 68% 45%
Change from 2011 Up 50% -- Up 26% Down 15%
Average Lease Price $3,695 $3,985 $3,026 $3,026
Change from 2011 Up 7% Down 9% Up 3% Up 3%
Key Market Indicators:Months of Resale InventoryNon Owner Occupancy*
* Property Tax Assessor’s Office
8.7 Mos32.7%
4.8 Mos23.8%
2.3 Mos50.0%
2.3 Mos50.0%
OC Highrise2012
ActiveUnder
Contract3 mos 6 mos 1 yr
Average Sale Price $1,218,000 $899,000 $970,300 $1,060,628 $982,328
Number Listings 13 2 6 11 18
Average Size 1885 sf 1970 sf 2043 sf 2240 sf 2,028 sf
Avg Price Discount * 14% 14% 9% 9%
Days Listed 168 40 156 147 131
Avg Price / Sq Ft $588 $456 $475 $473 $463
% Distressed Listings 23% 50% 33% 45% 61%
Average Lease Price $3,800 $4,525 $4,059 $3,695
Number Lease Listings 3 3 8 18
Avg Lease Price / Sq Ft $2.77 $2.07 $2.09 $2.17
Leases as a % Of TotalTransactions
19% 27% 42% 50%
Plaza Irvine
* Discount represents the amount of the final sales price compared to the original list price. All sales figures are obtained from the MLS and are deemed reliable but notguaranteed accurate by the MLS or Condos etc. The information represents activity of all Brokers and not just Condos etc DRE Number 01443184.
ActiveUnder
Contract3 mos 6 mos 1 yr
Average Sale Price $673,475 $373,033 $528,300 $563,389 $540,587
Number Listings 4 6 5 9 21
Average Size 1,400 sf 1,457 sf 1,572 sf 1,546 sf 1,539 sf
Avg Price Discount * 13% 2% 5% 2%
Days Listed 49 179 149 107 18
Avg Price / Sq Ft $481 $256 $336 $364 $351
% Distressed Listings 83% 60% 56% 57%
Average Lease Price $3,605 $3,000 $3,086 $2,925 $3,026
Number Lease Listings 7 1 11 20 44
Avg Lease Price / Sq Ft $2.11 $1.97 $2.08 $2.02 $2.00
Leases as a % Of TotalTransactions
64% 69% 69% 68%
Marquee atPark Place
ActiveUnder
Contract3 mos 6 mos 1 yr
Average Sale Price $1,114,800 $784,800 $1,104,900 $966,600 $1,010,300
Number Listings 8 2 6 9 20
Average Size 1908 sf 1515 sf 2093 sf 2068 sf 2075 sf
Avg Price Discount * 14% 16% 18% 15%
Days Listed 168 182 177 170 142
Avg Price / Sq Ft $570 $509 $528 $467 $487
% Distressed Listings 13% 0% 0% 0% 5%
Average Lease Price $6,500 $4,050 $3,985
Number Lease Listings 0 0 1 7 10
Avg Lease Price / Sq Ft $2.72 $2.26 $2.29
Leases as a % Of TotalTransactions
14% 44% 33%
3000 thePlaza
Represented SellerSale Price: $905,0003030 ScholarshipIrvine Business District
Represented BuyerSale Price: $725,0005111 ScholarshipIrvine Business District
Represented Buyer & SellerSale Price: $900,0005144 ScholarshipIrvine Business District
Represented BuyerSale Price: $345,990152 Full MoonPortola Springs
Represented Seller & BuyerSale Price: $615,0003031 Scholarship,Irvine Business District
Represented BuyerSale Price: $626,00036 SeedlingPortola Springs
Represented SellerSale Price: $796,6113131 Michelson, Unit 1603Irvine Business District
Represented BuyerSale Price: $715,0008040 ScholarshipIrvine Business District
Veronica HicksCell: [email protected]
Todd JonesCell: [email protected]
Represented Seller & BuyerSale Price: $1,400,0005103 ScholarshipIrvine Business District
Represented BuyerSale Price: $1,775,00031 Crimson RoseTurtle Ridge
Represented SellerSale Price: $1,295,0008124 ScholarshipIrvine Business District
Represented Seller & BuyerSale Price: $840,0008111 ScholarshipIrvine Business District
Our 2012 Sales Statistics
• Transaction Sides . . . . . . . . . . . . . . . . . . . . . . . . 77• Average Sales Price . . . . . . . . . . . . . . . . . . . . . . $911,550• Average Lease Price . . . . . . . . . . . . . . . . . . . . . . $3,459• % of the Time we Find the Buyer . . . . . . . . . . . 30%• Sell to List Price . . . . . . . . . . . . . . . . . . . . . . . . . 95%• Sell to List Price When We Find the Buyer . . . 97%
Represented TenantLease Price: $3,20025 DelancyIrvine Business District
Represented TenantLease Price: $3,7005095 ScholarshipIrvine Business District
Represented LandlordLease Price: $3,6005030 Scholarship,Irvine Business District
Represented TenantLease Price: $2,7003131 Michelson, Unit 1106Irvine Business District
Represented TenantLease Price: $2,5003131 Michelson, Unit 702Irvine Business District
Veronica HicksCell: [email protected]
Todd JonesCell: [email protected]
Represented Owner & TenantLease Price: $2,8003141 Michelson, Unit 1502Irvine Business District
Represented TenantLease Price: $4,2005050 ScholarshipIrvine Business District
Represented Owner & TenantLease Price: $3,8008040 ScholarshipIrvine Business District
Represented Owner & TenantLease Price: $4,4008039 ScholarshipIrvine Business District
Represented OwnerLease Price: $4,9003131 Michelson, Unit 1703Irvine Business District
Represented Owner & TenantLease Price: $2,6003141 Michelson, Unit 703Irvine Business District
Represented TenantLease Price: $3,7008078 ScholarshipIrvine Business District
Represented Owner & TenantLease Price: $4,5003131 Michelson, Unit 1504Irvine Business District
Represented Owner & TenantLease Price: $2,7505042 ScholarshipIrvine Business District
Represented Owner & TenantLease Price: $3,9003141 Michelson, Unit 1604Irvine Business District
Represented OwnerLease Price: $2,8503131 Michelson, Unit 1003Irvine Business District
Represented Owner & TenantLease Price: $2,8003141 Michelson, Unit 1502Irvine Business District
Represented Owner & TenantLease Price: $3,0003141 Michelson, Unit 1301Irvine Business District
Represented TenantLease Price: $4,5003143 Scholarship | Plan DIrvine Business District
Represented TenantLease Price: $5,3003131 Michelson, Unit 1802Irvine Business District
Represented Owner & TenantLease Price: $4,9005122 ScholarshipIrvine Business District
Represented Owner & TenantLease Price: $2,6003141 Michelson, Unit 1403Irvine Business District
Represented Owner & TenantLease Price: $6,5003117 ScholarshipIrvine Business District
Represented TenantLease Price: $1,5001102 ScholarshipIrvine Business District
Veronica HicksCell: [email protected]
Todd JonesCell: [email protected]
Represented TenantLease Price: $3,0005042 ScholarshipIrvine Business District
Represented Owner & TenantLease Price: $3,6005031 ScholarshipIrvine Business District
Represented TenantLease Price: $3,2003141 Michelson, Unit 1507Irvine Business District
Represented Owner & TenantLease Price: $3,1508056 ScholarshipIrvine Business District
Represented TenantLease Price: $2,4002366 WatermarkeIrvine Business District
Represented TenantLease Price: $1,5503413 WatermarkIrvine Business District
Represented Owner & TenantLease Price: $2,5002255 WatermarkeIrvine Business District
Represented Owner & TenantLease Price: $3,1503131 Michelson, Unit 1601Irvine Business District
Represented Owner & TenantLease Price: $2,8003141 Michelson, Unit 1502Irvine Business District
Represented 6 TenantsAstoria at Central Park West401 & 405 RockefellerIrvine Business District
Represented 2 TenantsEssex Skyline9 & 11 MacArthurSanta Ana
Veronica HicksCell: [email protected]
Todd JonesCell: [email protected]
Call, Text or eMail:Veronica HicksBroker and REALTOR®Cell: 714-336-5551eMail: [email protected]
©Copyright Condos etc™ 2010 - 2011
Find us on:
260 Newport Center Dr., Suite 100Newport Beach, CA 92660
Veronica’s Success …As a Resident of the Plaza Irvine I knowfirst hand, the benefits of this lifestyle andthe challenges homeowners face when itcomes time to sell. My knowledge of thisluxury high rise market and successfully
completing over 300 transaction sidesin this market allows me to guide myclients to make the best short and longterm decisions in today’s market. Expecthonest and straight forward answers abouta strategy that is right for you in thismarket!
Thinking about making a move?
Call Veronica today!