FORECLOSURE AND SHORT SALE LISTINGS DROP BY MORE THAN 80 PERCENT IN PLACENTIA CA
Although real estate listings increased in Placentia, California on a month to month basis, there were still 63.9% fewer homes for sale in Placentia at the end of January 2013 as compared to one year ago. Even with the monthly increase, there are less than 3 dozen properties for sale in the city of Placentia, and distressed listings are nearly non-existent. In fact, in the past year, foreclosure and short sale listings have each dropped by more than 80%.
The Placentia real estate market is stable and home prices have risen over the past 12 months. Houses and condos in Placentia sell quickly when they're priced appropriately, and multiple offers and bidding wars have become common place.
Active Real Estate Listings in Placentia CA = 35
Highest and Lowest Priced Real Estate Listing in Placentia CA
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Lowest priced property for sale in Placentia, CA - $142,800.00
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Highest priced property for sale in Placentia, CA - $749,000.00
Placentia CA Active Real Estate Listings By Property Type:
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29 Single Family Residence
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6 Condo/Townhouse
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0 Other (Land, Mobile Home, Mixed Use Property, etc...)
Placentia CA Active Real Estate Listing By Sales Type:
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24 Standard
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1 REO*
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8 Short Sale**
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2 Other (Relocation Sale, Probate Sale, Flip, etc...)
Placentia CA Active Real Estate Listings By Price Range:
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16 Placentia CA properties priced above $500,000.00
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19 Placentia CA properties priced at or below $500,000.00
DROP IN PENDING SALES IS NO SURPRISE
Pending real estate sales fell month over month and year over year in Placentia, California. However, this should come as no surprise, as there are very few properties available for sale. We can also expect to see additional drops in pending home sales in Placentia in the near future, unless the inventory increases substantially.
Placentia CA Properties In Pending And Back Up Status = 72
Pending Placentia CA Properties By Sales Type:
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33 Standard
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4 REO*
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33 Short Sale**
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2 Other (Relocation Sale, Probate Sale, Flip, etc...)
JANUARY 2013 HOME SALES FALL BY MORE THAN 43 PERCENT IN PLACENTIA CA
The number of closed real estate sales in Placentia dropped by more than 43% between December 2012 and January 2013, and a 13.3% decrease was seen in the year over year stats. Although a drop in sales is not desirable, it is inevitable, given the ultra low inventory of homes for sale in Placentia. And, as mentioned in the pending sales analysis, we will continue to see the number of Placentia property sales shrink in coming months, unless more houses and condos hit the market.
Placentia CA Properties Sold in January 2013 = 26
Placentia CA Properties Sold By Sales Type:
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16 Standard Sales
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1 REO Sales*
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9 Short Sales**
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0 Other (Relocation Sales, Probate Sales, Flip, etc...)
List Price Versus Sales Price In Placentia CA In January 2013
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7 Properties sold at list price
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12 Properties sold for less than list price
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7 Properties sold for more than list price
Highest and Lowest Real Estate Sales in Placentia CA in January 2013:
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Lowest Placentia, CA real estate sale - $115,000.00
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Highest Placentia, CA real estate sale - $772,445.00
What Home Buyers Got For Their Money in Placentia CA in January 2013?
For $115,000.00 you could have purchased a condo in Placentia, California with the following features and amenities:
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2 Bedrooms
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2 Baths
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929 SF
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Built in 1972
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$350 HOA Dues
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In Need Of Upgrades
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Laundry Hook-Ups
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Tenant Occupied
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Ineligible for FHA Financing
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Short Sale
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All Cash Purchase
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Sold For The List Price Of $115,000.00
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Placentia Yorba Linda Unified School District
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Located in the Cinnamon Tree Complex
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92870 Zip Code
For $772,445.00 you could have purchased a house in Placentia, California with the following features and amenities:
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5 Bedrooms
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4 Baths
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3,200 SF
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5,562 SF Lot
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3 Car Attached Garage
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Built in 2003
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$68 HOA Dues
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Upgraded Throughout
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10 Person Spa With Fountain
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Standard Sale
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FHA Financing
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Sold For Less Than The List Price Of $810,000.00
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Placentia Yorba Linda Unified School District
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Located In The Alta Vista Country Club Community
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92870 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 Feb 4 & Feb 12, 2013.
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