ORANGE CA REAL ESTATE SALES DOWN IN MAY 2013
Although the number of homes for sale in Orange, California reached its highest level since September of last year, active listing figures in May, 2013 were still down by more than 26% when compared to one year earlier. An increase in real estate listings is normal at this time of year, and given the recent surge in housing prices, I would expect to see a greater jump in inventory. The atypical real estate activity leads me to believe that Orange homeowners are reluctant to take on new, or additional debt.
Pending home sales fell nearly 10% on a month to month basis, and by 42% when comparing May, 2013 to year ago levels. Should inventory remain low, we can expect to see additional drops in pending real estate sales in Orange in the coming months.
Real estate sales were down by more than 23% between April and May. This could become a trend, unless there is a sharp increase in active real estate listings in Orange. And, in May, 2013, the majority of real estate sales in Orange, California closed at or below the original list price. Based on current market conditions, this was most likely the result of overly aggressive pricing.
ACTIVE REAL ESTATE LISTINGS IN ORANGE CA = 152
Highest and Lowest Priced Real Estate Listings In Orange CA
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Lowest priced property for sale in Orange, CA - $179,900.00
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Highest priced property for sale in Orange, CA - $4,100,000.00
Orange CA Active Real Estate Listings By Property Type:
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124 Single Family Residence
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26 Condo/Townhouse
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2 Other (Land, Mobile Home, Mixed Use Property, etc...)
Orange CA Active Real Estate Listing By Sales Type:
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147 Standard
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1 REO*
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3 Short Sale**
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1 Other (Relocation Sale, Probate Sale, Flip, etc...)
Orange CA Active Real Estate Listings By Price Range:
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109 Orange properties priced above $500,000.00
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43 Orange properties priced at or below $500,000.00
ORANGE CA PROPERTIES IN PENDING AND BACK UP STATUS = 190
Pending Orange CA Properties By Sales Type:
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113 Standard
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4 REO*
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67 Short Sale**
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6 Other (Relocation Sale, Probate Sale, Flip, etc...)
ORANGE CA PROPERTIES SOLD IN MAY 2013 = 106
Orange CA Properties Sold By Sales Type:
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90 Standard Sales
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3 REO Sales*
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10 Short Sales**
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3 Other (Relocation Sales, Probate Sales, Flip, etc...)
List Price Versus Sales Price In Orange CA In May 2013
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25 Properties sold at list price
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42 Properties sold for less than list price
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39 Properties sold for more than list price
Highest and Lowest Real Estate Sales In Orange CA In May 2013
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Lowest Orange, CA real estate sale - $169,000.00
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Highest Orange, CA real estate sale - $2,798,000.00
What Home Buyers Got For Their Money In Orange CA in May 2013
For $169,000.00 you could have purchased a condo in Orange, California with the following features and amenities:
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2 Bedroom
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2 Bath
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948 SF
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Built in 1972
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$280 HOA Dues
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Move In Condition
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REO
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FHA Financing
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Sold For More Than The List Price Of $160,000.00
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Orange Unified School District
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Located Near St. Joseph Hospital And CHOC
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92868 Zip Code
For $2,798,000.00 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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5.5 Bath
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6,500 SF
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43,560 SF Lot
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6 Car Attached Garage
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Built in 2001
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Single Story
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Upgraded Throughout
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Wine Cellar
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Pool And Spa
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Outdoor Fireplace
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Built-In BBQ
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Private 4 Stall Barn, Tack Room, And Turn Out Area
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RV Parking
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Standard Sale
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Conventional Financing
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Sold For Less Than The List Price Of $2,988,000.00
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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 June 1 and June 15, 2013.
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