November 2015 Costa Mesa Real Estate Report

Colin Delaney November 10, 2014

Costa Mesa Real Estate Continues Strong Selling Trend

Below is a recap of the November 2015 Costa Mesa Real Estate Report with current Orange County Real Estate marketplace, effective 11/10/2014 versus one year ago.

 

Prices

Resale Homes +5.7%, Resale Condos +7.4% and New Home Sales +9.1%

Sales Volume

Resale Homes -4.1%, Resale Condos -14.8% and New Home Sales +1.3%

 

Facts

  • Median Home Price is $580,000 up from $540,000 a year ago
  • Sales Volume is down, 2,863 versus 3,075 a year ago
  • Average Home Payment is $2,656.95 up from $2,531.85 a year ago
  • Inventory is down from 7,174 to 7,663 just one month ago
  • Mortgage Defaults, 373, down .9% versus one year ago
  • Foreclosures, 113, are up from 80 versus one month ago
  • Average Days on Market 3.24 months (107 days)

Interest Rates

  • 30 year fixed Mortgage rate is currently 4.02%, up versus one week ago
  • 15 year fixed rate is 3.21%, up versus one week ago
  • Adjustable Rate Mortgages are on the rise…

Trends

  • All totaled, OC home values are up 7.4% versus last year
  • All totaled, OC sales volume is down 6.9% versus last year
  • California construction employment is up 31% versus post-recession lows
  • Equity sales account for 95% of all OC transactions
  • Investors account for 14% of all CA home sales, down from 19% last year
  • Buyers are paying 97% of resale sales price versus 99% last year
  • Only 3.6% of all OC homes still underwater (19,840 homes)
  • $1m+ home now represent 26.5% of all OC home sales
  • OC Home building is up 71% versus last year, fastest pace since 2007
  • Developers have sold 1 out of 8 homes in OC over the past year!
  • Home ownership at its lowest point in 19 years (64.4%)
  • Highest price increase VLY; Newport Beach, 92662, +99.6%
  • Largest price decrease VLY; Dana Point, 92624, -28.0%

Recent Blog Posts

Avoid Mistakes-Top 5 Tips To Winning Offers in a Seller’s Market

Colin Delaney  |  September 3, 2025

Here’s a winning strategy with tips to avoid common buyer mistakes.

Just Sold: Cardinal – What’s the Market Really Like?

Colin Delaney  |  May 29, 2024

Sharing the nuts and bolts of this sale helps illustrate what is going on right now.

Just Sold – 2717 Cardinal Drive

Colin Delaney  |  May 6, 2024

Highest price paid for this model of approx 1814 Square feet.

Recent Mesa Verde Neighborhood Sales 2024

Colin Delaney  |  May 5, 2024

Here are the recent Mesa Verde neighborhood sales for 2024 through the end of April.

New Listing Video – 2717 Cardinal Drive

Colin Delaney  |  March 13, 2024

So excited to share our new short film for our listing at 2717 Cardinal Drive!

New Listing! 2717 Cardinal Drive, Costa Mesa CA 92626

Colin Delaney  |  March 10, 2024

This home has lovingly been cared for and has been in the same family for more than 40 years.

2024 Costa Mesa Real Estate Predictions

Colin Delaney  |  January 2, 2024

It’s the one where I am forecasting everything that is about to happen in Costa Mesa real estate.

Spring 2023 | Mesa Verde Market Report

Colin Delaney  |  April 10, 2023

We typically see listings start to trickle on the market in late February, with an increase in March.

Mesa Verde Home Inventory at 5 (!)

Colin Delaney  |  January 14, 2023

Mesa Verde Home Inventory for active listings is currently at 5 active listings.

Work With Colin

Colin’s commitment to getting sellers top dollar and securing the best deals for buyers is backed by a proven track record and extensive local knowledge.