Orange County Real Estate Newsletter: July 2020

Posted By : stavrosgroup on Jul 30, 2020

JULY 2020
Hi friends,

Real estate has long been considered a relatively safe investment. Amidst our country’s worst economic crisis in decades, that’s more true than ever.

When California instituted stay-at-home orders in March, uncertainty ruled the day. A deluge of sellers pulled their active listings off the market. But unlike the Balboa Peninsula after Friday’s tidal surge, local homeowners have managed to stay afloat.

In fact, real estate has emerged as one of the few resilient sectors of our distressed economy. Despite a steep decline in new listings and pending sales this March, the median sale price actually rose.

Since then, more buyers and sellers have come out of the woodwork to strike a deal. Pending home sales in SoCal steadily rose every week in May and June. Nationally, pending home sales rose over 44% in May alone.

We are still not out of the woods. Sales volume is up, but it has a ways to go before reaching pre-pandemic levels.

With that in mind, and with the benefit of a few months of hindsight, here’s what we expect to come:
  • Record-low mortgage rates will continue to drive demand.

  • Wary sellers and the existing housing shortage will continue to limit supply.

  • Therefore, home sale prices will likely continue to rise.

In short, it’s not a bad time to be in the market to buy or sell a home! We are proud to provide the same five-star service as ever to our clients while managing health and safety concerns. If you feel it’s time for a change, or if you just have questions about the market, please don’t hesitate to reach out.

Talk soon,
Andy Stavros
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OC Register
4601 Tremont Ln
Corona Del Mar
5 BD | 7 BA | 8,401 SQ FT
Offered at $14,995,000
Video Tour
989 Cliff Dr
Laguna Beach
5 BD | 5 BA | 4,041 SQ FT
Offered at $14,250,000
Video Tour
616 Bolsana Dr
Laguna Beach
4 BD | 3 BA | 4,263 SQ FT
Offered at $2,995,000
1639 Eleanor Ln
Laguna Beach
Over 12,000 sq ft lot
Offered at $3,695,000
32 N La Senda Dr
Laguna Beach
4 BD | 5.5 BA | 5,144 SQ FT
Offered at $17,995,000
2442 S Coast Hwy
Laguna Beach
16 BD | 14 BA | 8,991 SQ FT
Offered at $8,985,000
3312 Marcus Ave
Newport Beach
3 BD | 3.5 BA | 3,000 SQ FT
Offered at $3,495,000
700 Malabar Dr
Corona Del Mar
Approved Plans | Ready to Build
Offered at $3,495,000
5 Entonar Rd
Rancho Mission Viejo
4 BD | 3.5 BA | 3,255 SQ FT
Offered at $1,299,000
Copyright © 2020 Stavros Group, All rights reserved.
12 Corporate Plaza #250, Newport Beach, CA 92660
Douglas Elliman Real Estate

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