STANDARD LISTINGS UP AND SHORT SALES DOWN IN CORONA CA
Active real estate listings in Corona, California remained virtually unchanged from September to October 2012, with a less than 1% drop month over month. There was, however, a noticeable shift in the listing categories; standard real estate listings increased by more than 33%, while short sale listings in Corona fell by 26.6%. This change is undoubtedly the result of 2 factors:
1) More standard sales are being introduced to the market as prices have increased throughout Southern California, and homeowners have regained some of their lost equity
2) Buyers and their agents are no longer shying away from short sales, now that the process has become a bit easier and more streamlined.
Active Real Estate Listings in Corona CA = 266
Highest and Lowest Real Estate Listings in Corona CA:
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Lowest priced property for sale in Corona, CA - $79,900.00
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Highest priced property for sale in Corona, CA - $5,300,000.00
Corona CA Active Real Estate Listings By Property Type:
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250 Single Family Residence
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13 Condo/Townhouse
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3 Other (Land, Mobile Home, Mixed Use Property, etc...)
Corona CA Active Real Estate Listing By Sales Type:
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187 Standard
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18 REO*
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55 Short Sale**
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6 Other (Relocation Sale, Probate Sale, Flip, etc...)
Corona CA Active Real Estate Listings By Price Range:
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59 Corona properties priced above $500,000.00
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207 Corona properties priced at or below $500,000.00
PENDING SALES DROP IN CORONA CA BUT IT COULD BE GOOD NEWS
Pending real estate sales decreased by 5.2% on a month to month basis, in Corona, California. The drop was seen across all listing categories, but primarily with pending short sale and standard sale listings. The was most likely due to a surplus of properties that finally closed escrow in the month of October 2012.
Corona CA Properties In Pending And Back Up Status = 817
Pending Corona CA Properties By Sales Type:
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183 Standard
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50 REO*
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559 Short Sale**
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25 Other (Relocation Sale, Probate Sale, Flip, etc...)
HOMES SELLING FOR ABOVE ASKING PRICE IN CORONA CA
Home sales jumped from September to October, 2012, in Corona, California. This is atypical for this time of year and lends more weight to the argument that the Southern California real estate market has officially rebounded. All listings categories contributed to the double digit growth of nearly 15%, but short sales led the way with a nearly 24% increase in closings month over month.
Another sign of a real estate recovery can be found in the fact that a good majority of the houses and condos for sale in Corona, sold for more than their original list price in October, particularly in the $500,000 and below price range.
Corona CA Properties Sold in October 2012 = 269
Corona CA Properties Sold By Sales Type:
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122 Standard Sales
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27 REO Sales*
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115 Short Sales**
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5 Other (Relocation Sales, Probate Sales, Flip, etc...)
Highest and Lowest Real Estate Sales in Corona CA in October 2012
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Lowest Corona real estate sale - $59,600.00
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Highest Corona real estate sale - $1,850,000.00
What home buyers got for their money in Corona CA in October 2012
For $59,600.00 you could have purchased a condo in Corona, California with the following features and amenities:
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2 Bedrooms
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1 Bath
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850 SF
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Built in 1988
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1 Car Attached Garage
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$247 HOA
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No Details Provided Regarding the Condition of the Property
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Short Sale
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All Cash Purchase
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Located Near Downtown Corona
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92879 Zip Code
For $1,850,000.00 you could have purchased a home in Corona, California with the following features and amenities:
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7 Bedrooms
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9 Baths
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7,200 SF
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223,027 SF Lot
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Built in 2004
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5 Car Attached Garage
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Custom Built, Privately Gated Estate
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Highly Upgraded Throughout
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Fruit Orchard
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RV Parking
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Batting Cages
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Tennis Court/Basketball Court
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Infinity Pool With Slide and Waterfall
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Outdoor Kitchen With Refrigerator/Freezer, Dishwasher, Microwave, Icemaker and Pizza Oven
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Built-In BBQ
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Outdoor Bathroom
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Outdoor Surround Sound
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Sand Fire Pit
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Loggia With Fireplace and TV
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Mountain, Trees, and Hills View
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Standard Sale
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All Cash Purchase
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Located in South Corona
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92881 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 Nov 1st, 2012.
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