It’s a tough time on sellers now with fewer buyers in the marketplace.
This time of the year usually holds some real estate observations worth writing about. While showing property to a potential buyer Sunday, we found a lot of sellers at home. The common question the sellers asked was why their property hadn’t sold yet. There are four key reasons a property sells – condition, location, competition and price.
Today could be a great day to call your agent and ask to review the comparable properties that have either just sold, or have recently closed escrow, which is the more important of the two. Buyers are out looking at your competition, homes that are comparable to yours. Have you reviewed your competition?
It could be an eye-opening experience that could possibly help you sell your home.
The lower end price range is being driven by first-time buyers and investors and is relatively stable, while the medium to upper price ranges are still trying to find their way as to a realistic sale price.
The following update on local real estate information is based on Multiple Listing Service data as of Monday.
BREA
Properties available: 110
Condominiums: 20
Houses: 90
Short Sales and REOs: 54
Median condo price: $320,215
Median house price: $514,352
Average time on the market: 66 days for condos; 94 days for houses
Available properties by price range:
Under $399,999:38
$400,000 – $699,999: 66
$700,000 – $999,999: 6
Properties available by ZIP Code:
92821 – 93
92823 – 17
Properties put into escrow last week: 6
Least expensive houses: One of the least expensive homes put into escrow features 3 bedrooms, 3 baths, 1,516 interior square feet on a 1,823-square-foot lot. This home is listed for $359,500. The actual sales price cannot be disclosed until after the property closes escrow.
Least expensive condos: One of the least expensive condominiums put into escrow features 1 bedroom and 1 bath with 606 interior square feet. This condo is listed for $164,999. The actual sales price cannot be disclosed until after the property closes escrow.
Most expensive properties: One of the most expensive homes put into escrow is a one-story and features 3 bedrooms, 2 baths, 1,791 interior square feet on a 7,085-square-foot lot with 2-car attached garage. This home is listed for $599,500. The actual sales price cannot be disclosed until after the property closes escrow.
LA HABRA
Properties available: 197
Condominiums: 67
Houses: 130
Short Sales and REOs: 103
Median condo price: $187,734
Median house price: $456,829
Average time on the market: 91 days for condos; 79 days for houses
Available properties by price range:
Under $199,999: 44
$200,000 – $399,999: 95
$400,000 – $699,999: 42
$700,000 – $999,999:10
$1,000,000 and over: 6
Properties put into escrow last week: 4
Least expensive condos: One of the least expensive condominiums put into escrow features 1 bedroom and 1 bath with 738 interior square feet, listed for $89,000. The actual sales price cannot be disclosed until after the property closes escrow.
Dennis Bode is a Realtor with Century 21 Discovery. You may contact him at 714-814-1041, e-mail him at Dennis@DennisBode.com or go online to Blog.DennisBode.com.