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This information below is dedicated to keeping track of the home prices in Brea, CA. Brea is a wonderful community of 12.4 square miles located in North Orange County's foothills.
Brea Single Family Home Inventory
The average single family home sales price in Brea, CA decreased compared to 3 months as the average days on the market also decreased. The charts below are accurate as of May 4th 2013.
Condominium Inventory In Brea, CA
Average Days On The Market
Days on Market is the period of time from the listing of the property for sale in the Multiple Listing service and either being sold or taken off the market. The Days on Market numbers should be taken into consideration with the Active Inventory and Average Sales Price numbers in order to make an informed decision regarding where the overall market is trending. A low number of Days on Market indicates that the market is very active because either the prices are very desirable or the inventory levels are very low and the demand for the property is strong. In these circumstances, the average sales price would tend to rise. High inventory and decreasing average sales price will typically be accompanied by a larger Days on Market number.
Average Sales Prices
The Average Sales Price is determined by analyzing the final selling prices of the properties sold in a specific market area within a 30 day period. The average sales price should not be taken as the definitive present "fair market value." There are several qualities to take into consideration, i.e.: square footage, year built, number of bedrooms and baths, location, etc., that will contribute to the actual appraisal value of the home. It is, however, a strong indicator of the trends in a given market area. As with Active Inventory, fluctuations in the values may be of benefit to either the buyer or the seller. Scarcity of inventory will often coincide with higher average sales prices. When the average sales price starts to drop, the inventory will often increase, thus giving buyers greater leverage when negotiating a transaction.
The statistics above of the home prices in Brea, CA reflect the activity for the entire city. Property "Asking Prices", "Sales Prices" and "Days on Market" are different depending on various factors such as, location, price range and specific property features. To determine how a particular specific area or neighborhood is trending in this present market environment, simply fill out the form below and enter in the basic information. You will be provided with the most current information for your desired area.
Your FREE MARKET SNAPSHOT will include present neighborhood market values, as well as helpful community and school information.
It seems apparent to everyone that we are currently experiencing a most challenging economic environment. I don't know very many people who haven't had their financial world rocked in one way or the other. It just makes good sense that we all try and stay as well informed as possible. The overall health of the housing prices is one of the best indicators of the overall strength in the economy. If you would like to see the home prices of Brea's neighboring city Fullerton click here.
All information is deemed to be accurate as of 5/4/2013 but not guaranteed.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.