DOUBLE DIGIT DROP IN TUSTIN CA REAL ESTATE LISTINGS
There was another significant, double digit drop in the number of homes for sale in Tustin, California, on a month to month basis; Real estate listings fell by more than 25% between the end of November and December 2012, and as compared to January, the number of homes for sale in December had plunged 70.4%. The lack of available inventory, especially entry level properties of $500,000 or less, continues to incite bidding wars. This, of course, is the primary cause of the increase in real estate prices in Tustin, California.
Active Real Estate Listings in Tustin CA = 49
Highest and Lowest Priced Real Estate Listing in Tustin CA:
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Lowest priced property for sale in Tustin, CA - $135,000.00
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Highest priced property for sale in Tustin, CA - $3,600,000.00
Tustin CA Active Real Estate Listings By Property Type:
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37 Single Family Residence
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12 Condo/Townhouse
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0 Other (Land, Mobile Home, Mixed Use Property, etc...)
Tustin CA Active Real Estate Listing By Sales Type:
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37 Standard
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4 REO*
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3 Short Sale**
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5 Other (Relocation Sale, Probate Sale, etc...)
Tustin CA Active Real Estate Listings By Price Range:
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29 Tustin, CA properties priced above $500,000.00
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20 Tustin, CA properties priced at or below $500,000.00
SEASONAL SLOW DOWN TO BLAME FOR DROP IN PENDING HOME SALES
Although pending real estate sales fell on a month to month and year to date basis in Tustin, California, a decrease in real estate activity is common at the end of each year. Buyers typically slow down in their home search and sellers prefer to place their listings on hold during the busy holiday season.
Tustin CA Properties In Pending And Back Up Status = 114
Pending Tustin CA Properties By Sales Type:
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40 Standard
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7 REO*
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62 Short Sale**
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5 Other (Relocation Sale, Probate Sale, etc...)
REAL ESTATE SALES JUMP MORE THAN 46 PERCENT IN TUSTIN CA
Real estate sales jumped more than 46% between November and December 2012, and the number of home sales posted in December reflected an increase of 58% when compared to the January sales stats. This is great news for homeowners that have been anxiously awaiting a real estate market rebound in Orange County, and the fact that real estate sales increased during a usually slow time of year, is of particular importance.
Tustin CA Properties Sold in December 2012 = 79
Tustin CA Properties Sold By Sales Type:
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55 Standard Sales
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3 REO Sales*
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20 Short Sales**
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1 Other (Relocation Sales, Probate Sales, etc...)
Highest and Lowest Real Estate Sales in Tustin CA in December 2012
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Lowest Tustin CA real estate sale - $149,900.00
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Highest Tustin CA real estate sale - $2,185,548.00
What Home Buyers Got For Their Money in Tustin CA in December 2012
For $149,900.00 you could have purchased a condo in Tustin, California with the following features and amenities:
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2 Bedroom
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1.5 Bath
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1,080 SF
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Built in 1965
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$225 HOA Dues
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Needs Updating and Some Work
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Short Sale
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All Cash Purchase
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Tustin Unified School District
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Located on the Border of Santa Ana- West of the 55 Fwy
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92780 Zip Code
For $2,185,548.00 you could have purchased a house in Tustin, California with the following features and amenities:
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5 Bedrooms
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5.5 Baths
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4,950 SF
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22,121 SF Lot
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5 Car Attached Garage
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Built in 2000
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Upgraded
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All Bedrooms Include Private Baths
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Pool and Spa
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Hills and Canyon Views
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$640 HOA Dues
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REO
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All Cash Purchase
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Tustin Unified School District
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In the Guard Gated Tustin Ranch Estates Community
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92782 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 Jan 3rd and Jan 28th, 2013.
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