The following update on local real estate information is based on Multiple Listing Service data as of Monday.

In this week’s article you will find some changes as to how we present you the latest real estate information. We did this so you will be better prepared for our end of the year article that will run in January.

Placentia has seen 398 properties close escrow year to date. There are 76 properties currently in escrow of which 25 are not a bank owned or short sale. Some 67 percent of all properties in escrow are bank owned or a short sale.

This past week four properties were placed into escrow, of which only one was not a bank-owned or a short sale listing.

Yorba Linda has seen 491 properties close escrow year to date. There are 150 properties currently in escrow, of which 50 are not a bank-owned or short sale. So, 67 percent of all properties in escrow are bank owned or a short sale. There were 24 properties placed into escrow this past week, of which only three were not a bank-owned or a short-sale listing.

Please note that when you read the median price for each area that median price is not an average or an evaluation of your home, it is just the middle point of all the properties that are currently listed (for example, if there are 100 listings the median price would be listing number 50).

Happy Holidays and Merry Christmas!

PLACENTIA

Properties available: 139

Condominiums: 37

Houses: 102

Short Sales: 35

REO: 4

Median condo price: $210,500

Median house price: $509,900

Average time on market: 101

Properties put into escrow last week: 4

List price range: $112,000 – $549,900

Description: 2 condos, 2 houses

Average time on market: 74

Features of the most unique property put into escrow: This town home is located in Placentia Lakes, which features streams running through the common areas. It has 3 bedrooms and 2.5 bathrooms with approximately 1,300 interior square feet and a one car detached garage. It is listed under short sale terms at $225,000. The actual sales price cannot be disclosed until after the property closes escrow.

YORBA LINDA

Properties available: 311

Condominiums: 71

Houses: 240

Short Sales: 43

REOs: 15

Listings in 92886: 204

Listings in 92887: 107

Median price of house in 92886 area: $689,000

Median price of house in 92887 area: $522,500

Average days on market: 104

Properties put into escrow last week: 24

List price range: $185,000 – $1,550,000

Description: 7 condos, 17 houses

Average time on market: 78

Features of the most unique property put into escrow: One of the most unique properties put into escrow features 3 bedrooms, 2.5 bathrooms and 2400 interior square feet, on the lake in East Lake Village. There is a homeowner’s association which features pools, spas, clubhouse, gym and more. This home is listed under short sale terms at $675,000. The actual sales price cannot be disclosed until after the property closes escrow.

Steve Vartanian and Terry Short are Realtors with First Team Real Estate. You may contact them at 714-390-0671, e-mail vartanian1@aol.com or visit their website at www.gotosteveandterry.com.