The Green Sheet | March + April 2022

Echelberger Group

03/2/22

I have been selling real estate in Talega since 2000 and I have never experienced a market like 2021's. Talega saw exponential growth due to high demand, low inventory and low interest rates. Moreover, the community became a hotspot for the workforce migration coming from the LA and Bay areas during the Covid pandemic. These prospective buyers brought higher incomes with them and a willingness to pay more for homes, thus driving the Talega real estate market to new highs. 

The appeal of Talega’s master plan, unrivaled amenities, spacious homes, ample lot sizes and beautiful views combined with the temperate climate of San Clemente to make it a highly desirable address for a wide variety of buyers. I broke down the stats for the past three years to give you an idea of Talega’s growth. Nevertheless, you really do not see the full picture until you break it down quarterly and see where 2022 has already started. Please see the charts I've included in the Green Sheet.

As we move through our first quarter and the first half of this year, expect pricing to remain high. This is due to the lack of inventory available within the Talega community and the high demand that still exists for homes locally. I also expect the number of sales to decrease this year as the major turnover occurred over the last 18 months. Homeowners will be less inclined to sell as many have locked in low-interest rates and the workplace continues returning to normal.

A rise in interest rates typically affects the market and slows its pace. However, inventory levels have to return closer to normal before we see a balance. As I write this article, there are only 6 active properties for sale in Talega with the lowest-priced single-family home starting at $1,495,000. It is going to take a while before we see balance in this market, considering pre-pandemic inventory numbers for active properties in Talega were averaging 40 to 60 homes for sale at any given time. In my opinion, inventory is the key deciding factor as to when the market changes.

To read more about the current market in Talega, check out this month’s green sheet!

For more guidance on the best way to prepare and market your home, let Echelberger Group’s professionals help you every step of the way. Doug Echelberger and his team provide the expertise and resources necessary to make it easier for their clients. More than 20 years of experience has given Echelberger Group the 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.
 
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