ORANGE CA REAL ESTATE MARKET STABILIZED BY A NEARLY 50% DROP IN LISTINGS
There was little movement in the number of real estate listings in Orange, California, on a month to month basis, with only a 1.2% decrease from the end of August to September 2012. However, active real estate listings have fallen by nearly 46% since the beginning of the year, which has helped to stabilize the Orange real estate market. This has also caused would be buyers, including investors, to battle for the same properties, and has put upward pressure on the home prices in Orange.
While all listing categories have shrunk, the January to September drop has been seen most drastically in available foreclosures and short sales. These distressed listings have plummeted by 55% and 70%, respectively.
Active Real Estate Listings in Orange CA = 154
Highest and Lowest Priced Real Estate Listings in Orange CA
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Lowest priced property for sale in Orange, CA - $165,000.00
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Highest priced property for sale in Orange, CA - $2,988,000.00
Orange CA Active Real Estate Listings By Property Type:
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128 Single Family Residence
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25 Condo/Townhouse
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1 Other (Land, Mobile Home, Mixed Use Property, etc...)
Orange CA Active Real Estate Listing By Sales Type:
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114 Standard
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9 REO*
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29 Short Sale**
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2 Other (Relocation Sale, Probate Sale, Flip, etc...)
Orange CA Active Real Estate Listings By Price Range:
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90 Orange properties priced above $500,000.00
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64 Orange properties priced at or below $500,000.00
PENDING HOME SALES FALL BETWEEN AUGUST AND SEPTEMBER 2012
Month over month, pending real estate sales fell slightly, with a modest decline of 4.9% posting in the number of pending home sales in Orange, California at the end of September 2012. The majority of the drop was due to a reduced number of pending standard sales, while foreclosures and short sales seemed to interest more buyers. This is normal, due to the bargain prices typically associated with these types of distressed sales.
Orange CA Properties In Pending And Back Up Status = 306
Pending Orange CA Properties By Sales Type:
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102 Standard
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13 REO*
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181 Short Sale**
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10 Other (Relocation Sale, Probate Sale, Flip, etc...)
REAL ESTATE SALES DIP BY 15% IN ORANGE CA
Like pending sales in Orange, closed real estate sales slid in September 2012, dipping by 15.1%, since the end of August. Although, when compared to the number of closed sales in January, September held a 35.7% lead.
It's important to remember that a reduction in home sales is normal for this time of year, as children return to school, and the traditional home buying season comes to a close.
Orange CA Properties Sold in September 2012 = 95
Orange CA Properties Sold By Sales Type:
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64 Standard Sales
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5 REO Sales*
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21 Short Sales**
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5 Other (Relocation Sales, Probate Sales, Flip, etc...)
Highest and Lowest Real Estate Sales in Orange CA in September 2012
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Lowest Orange, CA real estate sale - $115,000.00
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Highest Orange, CA real estate sale - $2,535,000.00
What Home Buyers Got For Their Money in Orange CA in September 2012
For $115,000.00 you could have purchased a condo in Orange, California with the following features and amenities:
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1 Bedroom
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1 Bath
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653 SF
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Built in 1972
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$280 HOA Dues
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Located in the La Veta Monterey Condo Complex
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HUD Home
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FHA Financing
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Orange Unified School District
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Located on the Border of Santa Ana
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92868 Zip Code
For $2,535,000.00 you could have purchased a home in Orange, California with the following features and amenities:
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5 Bedrooms
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8 Baths
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6,000 SF (estimated)
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43,560 SF Lot (estimated)
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3 Car Attached Garage
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Built in 1977
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$125 HOA Dues
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Single Level
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Rebuilt in 2011
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Highly Upgraded Throughout
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1,100 SF Family Room
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Billiards/Bonus Room With Wet Bar and Full Kitchen
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Casita
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Custom Children's Playhouse
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Rock Pool and Spa With Cave, Grotto and Waterfall
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Equestrian Facilities Including Stalls, Tack Room, Wash Room, etc...
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Direct Access to Riding Trails From the Property
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Standard Sale
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Conventional Financing
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Orange Unified School District
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Located in the Orange Park Acres Area
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92869 Zip Code
*REO: Real Estate Owned. Foreclosed properties currently owned by the lender.
** Short Sale: Properties that are still owned by the borrower, however the borrower is attempting to sell the property for less than what is owed to the lender, which requires lender approval.
Information contained in this market report was compiled from available MLS data as of Oct 1st, 2012.
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