Yorba Linda Market Report Summary - June 2009

  
Average Sale Price - $642,770 (down from $669,778 in May)

Selling Price as % of Latest List Price - 95.75% (down from 96.31% in May

Selling Price as % of Original List Price - 90.76% ( up from 87.33% in May

Average Days on Market - 75 Days ( down from 88 days in May)

Total residential properties sold in May - 58 (up from 55 in May)

Yorba Linda Market Report Summary - May 2009

  
Average Sale Price - $669,778 (up slightly from $669,225 in July)

Selling Price as % of Latest List Price - 96.31% (up from 94.4% in July

Selling Price as % of Original List Price - 87.33% ( up from 87.14% in July

Average Days on Market - 88 Days ( down from 93 days in July)

Total residential properties sold in May - 55 (down from 56 in July)

Yorba Linda Market Report Summary - December 2008

  
Average Sale Price - $622,859 (up from $582,245 in November)

Selling Price as % of Latest List Price - 96.25% (up from 95.30% in July

Selling Price as % of Original List Price - 90.58% ( down from 90.84% in July

Average Days on Market - 70 Days ( down from 77 days in July)

Total residential properties sold in November  37 (down from 45 in July)

For more information about available Yorba Linda real estate please visit Yorba Linda Listings

Dataquick's November stats show Orange County median home price are now at $400K...a 5 1/2 year low and a 34.4% decline year over year. These are prices not seen since May of '03! Single family OC homes dropped to a median of $420K and condos are now at a median of $260.5K.

On the positive side home sales popped up by almost 39%! This was mainly a result of banks dumping foreclosures on the market and bargain hunters and investors swooping in and buying these distressed properties.

This was the fifth straight month of home sales increasing on a year-over-year comparison. A good sign! If sales continue to increase this will gradually soak up the inventory....... that is, as long as foreclosures don't increase at a more rapid pace than we had in 2008.

If you want specific statistics about your city, please email me at brad@so-cal-dreamhomes.com and tell me what city you would like a report for.

Yorba Linda Market Report Summary - November 2008

  
Average Sale Price - $582,245 (down from $732,138 in July)

Selling Price as % of Latest List Price - 95.30% (down from 96.00% in July

Selling Price as % of Original List Price - 90.84% ( down from 91.77% in July

Average Days on Market - 77 Days ( up from 69 days in July)

Total residential properties sold in November  45 (down from 63 in July)

For more information about available Yorba Linda real estate please visit Yorba Linda Listings

November 15, 2008 will be known as a very sad day for many in Yorba Linda, CA. Fire ravaged through the hills of Yorba Linda and as of last count at least 70 homes were destroyed. Approximately 40,000 poeple were evacuated and major streets were closed for most of the day. Some of the homes that burnt down seemed like impossibilites as several of them were in the interior of the city and not on the brushy hillsides near Chino State park. It was very eerie day as tens of thousand of people were trying to evacuate the city under a cloud of heavy smoke and whipping flames from the hillsides.

The city will rebound as it always does, but many families have lost their dreamhomes that took life times to acquire. My heart goes out to those that lost there homes in this very perilous day in Yorba Linda

Over the last 5 or 6 days I have received 3 calls from out-of-state buyers looking for a home in Orange County, CA. This is more out of state calls than I have received over the last three ore four months combined!

It is making me start to wonder......"Have Orange County real estate prices fallen so far that out-of-state home buyers are starting too see value in Southern California?" Two of these potential buyers are former California residents that had moved out of state due to the high cost of living and affordable home prices elsewhere. Are they now seeing affordability in CA or are they just homesick? These are question that I am going to get answered in my conversations with them and I will post to my blog at a later date.

Stay tuned......

Yorba Linda Market Report Summary - July 2008

  
Average Sale Price - $732,138 (down from $735,233 in June)

Selling Price as % of Latest List Price - 96.00% (up from 94.49% in June)

Selling Price as % of Original List Price - 91.77% ( up from 89.86% in June)

Average Days on Market - 69 Days ( down from 104 days in June)

Total residential properties sold in July  63 (up from 50 in June)

For more information about available Yorba Linda real estate please visit Yorba Linda Listings

Yorba Linda Market Report Summary - June 2008

  
Average Sale Price - $735,233 (down from $795,691 in May)

Selling Price as % of Latest List Price - 94.49% (up from 92.41% in May)

Selling Price as % of Original List Price - 89.86% ( up from 88.44% in May)

Average Days on Market - 104 Days ( up from 84 days in May)

Total residential properties sold in June  50 (down from 51 in May)

For more information about available Yorba Linda real estate please visit Yorba Linda Listings

Many people still think the real estate market will rebound in 2008. I don't see that happening (at least not here in Southern California). My prediction is that we won't see the market flatten until mid 2009 and then bounce along for a couple years until all these foreclosures and short sales work there way through the system. There is just TOO MANY of these properties to work through before we see any upswing in pricing.

Anyone feel different about the real estate market in general than I do? What about your area? What do you see in your area?