What’s it going to take for potential sellers who’ve been sitting on the fence to put their homes on the market?
How much more will prices have to come up? Have you recently reviewed the comparable homes in your neighborhood? All we really need to have a very good real estate market is more inventory.
Currently there are plenty of motivated buyers in the marketplace who have been unable to find just the right home or have lost out on homes to other buyers. Interest rates are still historically low and we need some new inventory on the market for all those motivated buyers. So really, what’s holding you back?
The following update on local real estate information is based on Multiple Listing Service data as of Friday.
BREA
Properties available: 46
Condominiums: 3
Houses: 43
Short sales and REOs: 10
Average condo price: $250,000
Average house price: $629,241
Average time on the market: 22 days for condos; 76 days for houses
Available properties by price range:
Under $399,999: 4
$400,000 – $699,999: 32
$700,000 – $999,999: 9
$1,000,000-$1,999,999: 1
Properties available by ZIP Code:
92821 – 36
92823 – 9
Escrows opened last week: 13
Least expensive houses: One of the least expensive homes going into escrow features 3 bedrooms, 2 baths, 1,452 square feet and a 1,823-square-foot lot with 2-car detached garage. This home is listed for $334,900. The actual sale price is not disclosed by the MLS until after the property closes escrow.
Least expensive condos: One of the least expensive condos going into escrow features 3 bedrooms, 2 baths, 1,281 square feet and 2-car attached garage. This home is listed for $239,900. The actual sale price is not disclosed by the MLS until after the property closes escrow.
Most expensive properties: One of the most expensive homes going into escrow features 4 bedrooms, 4 baths, 4,131 square feet and a 10,000-square-foot lot with 3-car attached garage. This home is listed for $890,000. The actual sale price is not disclosed by the MLS until after the property closes escrow.
Closed escrows: 7 with an average sale price of $457,857 and an average time on the market of 64 days.
LA HABRA
Properties available: 89
Condominiums: 19
Houses: 70
Short sales and REOs: 29
Average condo price: $160,352
Average house price: $442,379
Average time on the market: 89 days for condos; 71 days for houses
Available properties by price range:
Under $199,999: 17
$200,000 – $399,999: 41
$400,000 – $699,999: 27
$700,000 – $999,999: 3
$1,000,000 over: 1
Escrows opened last week: 27
Least expensive houses: One of the least expensive homes going into escrow features 2 bedrooms, 1 bath with 854 square feet and a 7,645-square-foot lot with 2-car attached garage. This home is listed for $200,000. The actual sale price is not disclosed by the MLS until after the property closes escrow.
Least expensive condos: One of the least expensive condos going into escrow features 1 bedroom, 1 bath with 640 square feet and community garage. This home is listed for $95,000. The actual sale price is not disclosed by the MLS until after the property closes escrow.
Most expensive properties: One of the most expensive homes going into escrow features 4 bedrooms, 3 baths, 2,459 square feet and a 10,057-square-foot lot and 3-car attached garage. This home is listed for $629,900. The actual sale price is not disclosed by the MLS until after the property closes escrow.
Closed escrows: 8 with an average sale price of $339,125 and an average time on the market of 57 days.
Dennis Bode is a Realtor with Prudential California Realty. You may contact him at 714-814-1041 or e-mail him at Dennis@DennisBode.com.