the GREEN sheet | May-June 2022

M A Y / J U N E 2 0 2 2

t he

GREEN sheet

TA LE GA’S RED-HOT R E A L E STAT E M ARK ET

IS THE MARKET SHIFTING? With interest rates climbing more than 2% in recent months, changes in the market are inevitably taking place. What seemed to be an endless supply of demand to purchase Orange County and Talega homes has started to change. Take a look at the Orange County Demand chart below and you will see how the market is starting to shift. Even with fewer buyers, however, our low inventory is keeping pricing strong.

I like to use the example of a car on the freeway flying along at 100 mph, which feels exhilarating or scary, depending on your viewpoint. But when the car slows down to 50 mph, it feels like the car has stopped. In reality, it is still going 50 mph, which is fast, but doesn’t have the same sensation as it did at 100. Similarly, houses are still hitting the market with multiple offers and overbidding, only now there are much fewer people involved in that process. Inventory is slowly starting to increase as we head towards summer, but do not expect a boom in available homes, as shown in the inventory graph below.

The market for available homes throughout 2022 will remain tight, which will sustain the region’s price point. The average price for a home in Orange County just topped $1,000,000. That is quite unbelievable knowing how large and diverse our OC real estate market is. Looking forward, we will see our market normalize over the coming months and likely working towards a greater balance between buyers and sellers in 2023.

Echelberger Group provides the expertise and resources necessary to make it easier for its clients. More than 21 years of experience in Talega and 53 years living in San Clemente, Doug and his team have an edge in local knowledge and connections. Echelberger Group provides a comprehensive range of services, from industry-leading technology—backed by its partnership with Pacific Sotheby's International Realty—and custom marketing strategies to regular updates and prompt communication that makes transactions efficient and stress-free. For more information, visit www.echelberger.com or call 949.498.7711.

F E AT U R E D R E S I D E N C E

26 Calle Gaulteria

6 bed | 6.5 bath | 5,025 sq ft | 10,022 sq ft lot

Welcome home to 26 Calle Gaulteria in the exclusive neighborhood of Mirador, where impressive upgrades and sprawling resort grounds set the stage for luxury living near the Southern California coast. Formal landscaping and hardscaping introduce the grand two-story residence, which encompasses approximately 5,025 square feet and offers six ensuite bedrooms with walkin closets and six-and-one-half baths. Two suites are located on the first floor, with one currently used as a home office with French doors off the foyer. A formal entry provides an appropriately stylish first impression, with a double-height foyer showcasing a dramatic curving staircase with patterned carpet. Entertain formally in a gorgeous living room with two-story ceiling, a recessed fireplace nook with stone tile surrounds, and 10-foot fold-away glass doors opening to the backyard. Courtyard access is enjoyed in a large formal dining room with a custom 210-bottle built-in temperature-controlled wine cellar. Equal attention is paid to the home’s casual spaces, which combine a fireplace-warmed family room with surround sound, and an upgraded chef’s kitchen in one oversized area. Opulence awaits in a primary suite with extra-large view deck, a fireplace, and a walk-in closet with custom built-ins. Solar power, a Sonos audio system, outdoor speakers, contemporary lighting fixtures and extra storage are included. At nearly 10,022 square feet, the homesite easily hosts a saltwater pool and spa with Aqualink app controls, a billiards pavilion, a custom fireplace, dog run, loggia, fountains, and a custom outdoor kitchen with bar, refrigerator, DCS grill and a pizza oven.

ww w. 26 Ca lle gaulte r i a .c o m

2 | w w w. E chel be rger. co m

Just Listed &In Escrow In 3 Days

TALEGA RESIDENCES Dou g E c h e l b e r ger h a s a PRO VEN track reco rd in T alega Re a l E sta te 24 PASEO V ER DE J UST LISTED

1

26 CALLE GAULTE RI A IN E SCROW IN 3 DAYS

2 1 3 V IA JAC OBEA I N ESC R OW IN 1 4 DAYS

3 | w w w. E chel b erger. co m

3

3 6 VIA BE LLE Z A IN E SCROW IN 5 DAYS

4 1 2 CA LLE GAULTER IA SOLD IN 1 2 DAYS

26 PASE O LU N A SOLD IN 3 DAYS

3 00 CA LLE CA MPA N ERO J UST SOLD

3 06 PLAZ A CAB A N A SOLD IN 1 DAY

TALEGA RESIDENCES Rep r es e nted by D o ug Echelberger 30 8 V IA LOS TILOS SOLD IN 7 DAYS

12 CORT E VIZCAYA JU ST SOLD

9 CA LLE PAC IFICA J UST SOLD

1 CAM INO PLAT IN O SOLD IN 4 DAYS

ADDRESS

act i ve pending 12/ 2 0 2 1 TH R U Y T D closi n gs

TRACT

PRICE

BED

BATH

SQFT

1 | 24 Paseo Verde

Santalana

$949,000

3

2.5

1,634

2 | 26 Calle Gaulteria 3 | 13 Via Jacobea 4 | 36 Via Belleza

Mirador Catania Alassio

$2,995,000 $1,950,000 $1,795,000

6 4 5

6.5 3 3

5,025 2,941 2,992

Vizcaya Mirador

Pacifica Summit San Rafael Terra Linda Carmel Alassio Alassio

$3,000,000 $2,815,000 $1,825,000 $1,635,000 $1,600,000 $970,000 $785,000 $743,000

5 5 5 5 6 3 3 3

5.5 5.5 3.5 4.5 3 2 2.5 3.5

5,539* 4,631 ** 3,601 * 3,536 * 2,867 *** 2,050 *** 1,668 * 1,484 *

12 Corte Vizcaya 12 Calle Gaulteria 9 Calle Pacifica 308 Via Los Tilos 306 Plaza Cabana 1 Camino Platino 26 Paseo Luna 300 Calle Campanero * Represented Seller

** Represented Buyer

*** Represented Seller and Buyer

DOUG ECHELBERGER 949.498.7711 | doug@echelberger.com We respect your time, and value your business. We know you could go anywhere for your real estate needs, and appreciate having the opportunity to serve you the best way we can. For more information, or to be the first to learn about pocket listings, open houses, market reports, and local events vi si t us onl i ne or c al l 949.498.771 1 .

4 | w w w. E chel b erger. co m

call us today, for a COMPLIMENTARY home evaluation from talega's most experienced real estate agent

the

sheet

YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N A PR I L

TOWNHOMES TRACT/STREET

STATUS

PRICE

PRICE/SQ FT

SQ FT*

BED/BATH

GARAGE

LOT SIZE*

COE

Active

$805,000

$494

1,631

3/4

2

--

(A)

401 Calle Campanero

Pending

$799,000

$490

1,631

3/3

2

--

(B)

38 Paseo Luna

Pending

$740,000

$546

1,356

2/2

2

--

(C)

62 Paseo Del Rey

SOLD

$801,000

$491

1,631

3/4

2

--

3/15/22

6 Paseo Del Rey

SOLD

$750,000

$460

1,631

3/4

2

--

4/1/22

Pending

$949,000

$463

2,050

3/2

2

--

(D)

18 Paseo Verde

Pending

$989,000

$557

1,776

3/3

2

--

(E)

62 Paseo Vista

Pending

$950,000

$487

1,952

3/3

2

--

(F)

64 Paseo Vista

Pending

$899,000

$506

1,776

3/3

2

--

(A)

56 Paseo Vista

Pending

$785,000

$605

1,298

3/2

2

--

(G)

SOLD

$955,500

$547

1,748

3/3

2

--

2/28/22

Pending

$700,000

$504

1,388

2/2

2

--

(E)

SOLD

$1,010,000

$533

1,896

3/3

2

--

3/9/22

16 Via Carmona

SOLD

$885,000

$481

1,840

3/3

2

--

3/21/22

23 Via Almeria

SOLD

$780,000

$577

1,351

2/2

2

--

4/11/22

Alassio 8 Paseo Luna

Carmel 1 Avenida Cristal

Santalana

102 Paseo Vista

Trinidad 4 Calle Centello 11 Camino Celeste

5 | w w w.E c he l b erg er.c om

Verano

(A) = Coldwell Banker Realty (B) = Pinpoint Properties (C) = Berkshire Hathaway HomeServices (D) = RE/MAX Connections (E) = First Team Real Estate (F) = Surterre Properties Inc (G) = Villa Real Estate

"Doug and his team kept us informed with all important developments during the sale of our father's home in San Clemente. I enthusiastically recommend Doug to anyone looking to buy or sell a home.” - Joe K.

the

sheet

YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N A PR I L

S I N G L E - FA M I LY H O M E S TRACT/STREET

STATUS

PRICE

PRICE/SQ FT

SQ FT*

BED/BATH

GARAGE

LOT SIZE*

COE

Pending

$4,250,000

$796

5,336

5/6

3

9,793

(E)

17 Calle Viviana

SOLD

$4,250,000

$827

5,136

5/6

3

11,568

4/6/22

14 Via Carina

SOLD

$4,250,000

$808

5,263

5/6

3

11,648

3/2/22

SOLD

$1,400,000

$545

2,567

3/3

2

4,101

2/24/22

SOLD

$1,650,000

$470

3,512

5/4

3

7,663

3/14/22

36 Via Agradar

Pending

$1,755,000

$711

2,469

4/3

2

7,168

(B)

14 Via Agradar

SOLD

$1,885,000

$730

2,583

3/3

2

8,018

3/9/22

Alora No Activity

Alta 22 Via Carina

Amalfi 3 Via Zamora

Bella Vista No Activity

Cantabria 18 Calle De La Luna

Caprizi

Careyes 37 Calle Careyes

Active

$3,600,000

$711

5,061

5/6

2

12,763

(C)

37 Calle Careyes

SOLD

$3,300,000

$652

5,061

5/6

2

12,763

2/17/22

17 Via Franca

Pending

$2,599,900

$701

3,709

5/5

2

7,975

(D)

23 Via Lucena

SOLD

$2,300,000

$608

3,786

4/5

3

9,778

2/9/22

Carillon

Catania 13 Via Jacobea

Pending

$1,950,000

$663

2,941

4/3

2

9,070

(A)

35 Via Soria

SOLD

$2,300,000

$658

3,497

4/4

3

6,665

3/17/22

32 Via Soria

SOLD

$1,950,000

$541

3,602

5/5

3

6,882

2/25/22

20 Via Fontibre

SOLD

$1,925,000

$550

3,497

4/4

3

5,489

4/5/22

31 Calle Loyola

Pending

$2,069,000

$538

3,849

5/5

3

7,721

(B)

31 Calle Loyola

SOLD

$2,000,000

$520

3,849

5/5

3

7,721

2/11/22

(A) = Pacific Sotheby's International Realty (B) = Keller Williams OC Coastal Realty (C) = Kevin Chinnock, Broker (D) = Surterre Properties Inc (E) = Keller Williams Realty

SIGN UP TO RECEIVE THE GREEN SHEET VIA EMAIL EVERY MONTH w w w.Ta l e g a G r e e n S h e e t .c o m | Your Source for Everything Real Estate

6 | w w w.E c he l b erg er.c om

Cazadero

the

sheet

YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N A PR I L

S I N G L E - FA M I LY H O M E S TRACT/STREET

STATUS

PRICE

PRICE/SQ FT

SQ FT*

BED/BATH

GARAGE

LOT SIZE*

COE

SOLD

$1,525,000

$598

2,550

3/3

2

4,922

4/13/22

25 Via Conocido

Active

$4,550,000

$736

6,181

6/7

4

15,801

(A)

51 Via Conocido

SOLD

$4,085,000

$661

6,181

6/7

4

15,677

3/3/22

Active

$2,950,000

$627

4,706

5/6

4

11,966

(B)

26 Calle Gaulteria

Pending

$2,995,000

$596

5,025

6/7

3

10,022

(C)

12 Calle Gaulteria

SOLD

$2,815,000

$608

4,631

5/6

3

9,422

2/28/22

4 Via Belleza

Pending

$1,825,000

$605

3,015

5/3

2

6,120

(D)

7 Via Abrazar

Pending

$1,765,000

$529

3,338

4/4

3

5,647

(E)

2 Via Belleza

SOLD

$1,955,000

$586

3,338

5/4

3

9,883

4/1/22

12 Calle Angelitos

Active

$3,225,000

$677

4,766

5/6

3

10,393

(C)

34 Calle Vista Del Sol

SOLD

$3,225,000

$684

4,715

5/6

3

13,492

4/1/22

Pending

$1,899,000

$610

3,111

5/4

3

5,935

(F)

SOLD

$1,645,000

$529

3,111

4/4

3

5,106

2/4/22

SOLD

$2,100,000

$514

4,085

5/4

3

8,800

4/11/22

Escala 4 Via Ceramica

Farralon Ridge No Activity

Lucia

Mirador 15 Via Divertirse

Miraleste

Montellano

Monterey 103 Via Sonoma 314 Via Promesa

Pacifica Summit 32 Calle Pacifica

Pacifica Talega No Activity

7 | w w w. Ec he l berger.c o m

Portofino No Activity (A) = Compass (B) = Homesmart, Evergreen Realty (C) = Pacific Sotheby's International Realty (D) = Harcourts Prime Properties (E) Berkshire Hathaway HomeServices (F) First Team Real Estate

"Doug is an amazing person and real estate broker. We had a wonderful experience with Doug and his team as we purchased our dream home in San Clemente. Would highly recommend to anyone looking for a highly knowledgeable professional who will advocate for you." - Josh & Shulamit K.

the

sheet

YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N A PR I L

S I N G L E - FA M I LY H O M E S TRACT/STREET

STATUS

PRICE

PRICE/SQ FT

SQ FT*

BED/BATH

GARAGE

LOT SIZE*

COE

25 Via Jenifer

SOLD

$1,930,000

$646

2,987

5/3

3

5,428

3/9/22

13 Via Regalo

SOLD

$1,715,980

$597

2,872

4/3

2

6,269

4/4/22

SOLD

$2,750,000

$642

4,282

5/6

3

7,580

3/31/22

SOLD

$1,520,000

$563

2,701

4/3

3

5,386

4/6/22

Pending

$1,775,000

$565

3,140

4/4

3

6,584

(A)

Pending

$2,375,000

$638

3,725

5/3

2

9,414

(B)

SOLD

$1,449,000

$578

2,507

5/3

2

4,417

4/6/22

Active

$1,249,000

$739

1,690

3/3

2

3,700

(C)

7 Corte Estante

Pending

$1,300,000

$565

2,300

4/3

2

5,320

(D)

33 Calle Boveda

Pending

$1,200,000

$706

1,700

3/3

2

4,897

(D)

Portomarin

Ravenna 14 Corte Jaime

Sabella 12 Paseo Canos

San Lucar No Activity

San Rafael 100 Via Monte Picayo

Sansol 12 Calle Saltamontes

Seaside 32 Calle Almeja

Solana 11 Camino Azulejo

Stella Mare No Activity

Terra Linda 203 Calle Botanico 112 Via Malaga

Active

$1,719000

$595

2,888

5/3

3

5,249

(E)

Pending

$1,769,900

$545

3,247

5/3

3

7,000

(F)

Active

$1,675,000

$586

2,857

4/3

3

6,693

(E)

Vittoria 12 Via Elda

No Activity (A) = USRealty.com (B) =Surterre Properties Inc (C) = Century 21 Award (D) = Bullock Russell RE Services (E) = Berkshire Hathaway HomeServices (F) = Lantern Bay Realty

SIGN UP TO RECEIVE THE GREEN SHEET VIA EMAIL EVERY MONTH w w w.Ta l e g a G r e e n S h e e t .c o m | Your Source for Everything Real Estate

8 | w w w.E c he l berger.c o m

Vizcaya

the

sheet

YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N A PR I L

SENIOR 55 & OLDER TRACT/STREET

STATUS

PRICE

PRICE/SQ FT

SQ FT*

BED/BATH

GARAGE

LOT SIZE*

COE

Pending

$1,400,000

$493

2,841

2/2

2

6,650

(A)

SOLD

$950,000

$623

1,526

2/2

2

3,156

3/23/22

1 Camino Alenza

SOLD

$1,352,000

$658

2,055

2/2

2

5,199

4/6/22

20 Camino Del Prado

SOLD

$1,226,000

$566

2,166

2/2

2

5,425

2/22/22

Sandbridge 5 Corte Tallista

Seagarden 55 Corte Pinturas

Waterleaf

Wavecrest No activity (A) = HomeSmart, Evergreen Realty

Talega Averages

Single Family ACTIVE (7) PENDING SALE (15) SOLD (25)

List Price $2,709,714 $2,042,903 $2,168,000

SqFt 4,021 3,307 3,621

DOM 12 21 10

List $ PSF $667 $623 $599

Sold Price

Condo/Townhouse ACTIVE (1) PENDING SALE (8) SOLD (7)

List Price $805,000 $859,300 $839,000

SqFt 1,631 1,646 2,116

DOM 5 22 8

List $ PSF $494 $527 $397

Sold Price

Sold $ PSF

$875,929

$414

$2,260,119

Sold $ PSF $624

EXPERIENCE and KNOWLEDGE makes a significant difference when it comes to SELLING and BUYING a home in TALEGA.

9 | w w w. Ec he l berger.c o m

call us today, for a COMPLIMENTARY home evaluation from talega's most experienced real estate agent DOUG ECHELBERGER 949.498.7711 | doug@echelberger.com *Approximate The Green Sheet is based on information from the Association of REALTORS®/Multiple Listing Service as of 4.19.22 and/or other sources. The Talega Green Sheet and MLS data is deemed reliable, but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The properties listed above are not all Pacific Sotheby's International Realty and include listings from other brokers. If you notice any incorrect information or a property that is not listed, please call my office immediately at 949.498.7711. To preserve space, old sales before 2.1.2022 have been eliminated. If you would like the name, address, and phone number of the firm representing a specific property listed above, please email info@echelberger.com.

the

sheet

YO U R TA L EG A M A R K E T R EP O R T F O R H O M E VA LU E S I N A PR I L

ORANGE COUNTY MARKET SUMMARY

•

•

• • • • • •

• •

•

The active listing inventory surged higher by 372 homes, up 21%, and now totals 2,104 homes, its largest two week gain since April 2018. Yet, it is still the lowest level for this time of the year since tracking began 18 years ago. In April, there were 17% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 695 fewer. Last year, there were 2,274 homes on the market, 170 additional homes, or 8% more. The 3-year average prior to COVID (2017 to 2019) was 6,002, or 185% more.

Demand, the number of pending sales over the prior month, decreased by 87 pending sales in the past two weeks, down 4%, and now totals 2,154, the largest drop for an April since 2011 (ignoring the COVID lockdown months of 2020). Last year, there were 3,081 pending sales, 43% more than today. The 3-year average prior to COVID (2017 to 2019) was 2,780, or 29% more.

With supply surging higher and demand dropping, the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, surged higher from 23 to 29 days in the past couple of weeks, still an insanely Hot Seller’s Market (less than 60 days), but rapidly cooling. It was at 22 days last year, stronger than today.

For homes priced below $750,000, the market is a Hot Seller’s Market (less than 60 days) with an Expected Market Time of 19 days. This range represents 18% of the active inventory and 28% of demand.

For homes priced between $750,000 and $1 million, the Expected Market Time is 23 days, a Hot Seller’s Market.

This range represents 21% of the active inventory and 27% of demand.

For homes priced between $1 million to $1.25 million, the Expected Market Time is 25 days, a Hot Seller’s Market.

This range represents 12% of the active inventory and 14% of demand.

For homes priced between $1.25 million to $1.5 million, the Expected Market Time is 30 days, a Hot Seller’s Market. This range represents 10% of the active inventory and 10% of demand.

For homes priced between $1.5 million to $2 million, the Expected Market Time is 25 days, a Hot Seller’s Market.

This range represents 11% of the active inventory and 10% of demand.

For homes priced between $2 million and $4 million, the Expected Market Time in the past two weeks increased from 40 to 61 days. For homes priced between $4 million and $8 million, the Expected Market Time increased from 84 to 107 days. For homes priced above $8 million, the Expected Market Time increased from 157 to 201 days.

The luxury end, all homes above $2 million, accounts for 29% of the inventory and 10% of demand.

Distressed homes, both short sales and foreclosures combined, made up only 0.2% of all listings and 0.2% of demand. There are only 3 foreclosures and 1 short sales available to purchase today in all of Orange County, 4 total distressed home on the active market, up 3 from two weeks ago. Last year there were 12 total distressed homes on the market, similar to today.

There were 2,645 closed residential resales in March, 18% less than March 2021’s 3,212 closed sales. March marked a 49% increase compared to February 2022. The sales to list price ratio was 106.9% for all of Orange County. Foreclosures accounted for just 0.2% of all closed sales, and short sales accounted for 0.1%. That means that 99.7% of all sales were good ol’ fashioned sellers with equity.

We respect your time, and value your business. We know you could go anywhere for your real estate needs, and appreciate having the opportunity to serve you the best way we can. For more information, or to be the first to learn about pocket listings, open houses, market reports, and local events vi si t us onl i ne or c al l 949.498.771 1 .

for more information on current oc housing market, visit our market reports at

SIGN UP TO RECEIVE THE GREEN SHEET VIA EMAIL EVERY MONTH w w w.Ta l e g a G r e e n S h e e t .c o m | Your Source for Everything Real Estate

10 | w w w. E che l berger.c o m

•

presorted standard us postage

PAID

permit#1007

302 N. El Camino Real, Suite 214 | San Clemente, CA 92672

santa ana, ca

l

FROM THE BLOG 11 THINGS TO DO IN DANA POINT All the comforts of a seaside town, without the crowds. The family-friendly beach community often gets overlooked by its more popular neighbors. Here are reasons Dana Point is an ideal weekend getaway.

READ more on the blog

ORANGE COUNTY'S INSIDER INTEL After almost two years, the market is starting to CRACK. We are seeing a rise in inventory, a drop in demand, and an increase in market time. Why? – higher rates. Check out the latest Insider Intel.

READ more on the blog

MAY CALENDAR OF EVENTS Check out our calendar for fun events going on in and around San Clemente for the month of May! Celebrate Cinco de Mayo, hop on a whale watching cruise, or eat the rainbow at San Juan's Boochcraft celebration.

READ more on the blog

OVER 700+ SUCCESSFULLY CLOSED TRANSACTIONS IN TALEGA #KeepingItRealEstate in San Clemente Since 1994

Knowledge | Honesty | Integrity

DOUG ECHELBERGER DRE#01176379 949.498.7711 Doug@Echelberger.com

Broker and agent do not guarantee accuracy of all data, including all measurements and calculations of area. Information is obtained from various sources and has not been, and will not be, verified by Broker or Agent of MLS. All information should be independently reviewed and verified for accuracy. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. If your property is listed with a real estate broker, please disregard. Each Office Is Independently Owned And Operated. Broker DRE #01767484 | Doug Echelberger DRE #01176379