Mission Viejo Market Statistics for November
by John Alesi, Mission Viejo REALTOR®
Mission Viejo CA Real Estate
As the we get back to the grind after a long Thanksgiving weekend, I'd like to give you a snapshot of the market activity for November, 2008, for Mission Viejo houses (SFR/single family residence) and condos.
HOUSES/SFR:
Median Price: $570,000
Price per Sq. Ft: $299
Days On Market: 132
Inventory: 4.8 months supply
CONDOS:
Median Price: $299,900
Price per Sq. Ft: $261
Days On Market: 135
Inventory: 5.5 months supply
While the trend has been steadily downward through the year, things have seemed to reach a plateau. Inventory has steadily diminished with the current level ,down from a high of more than 12 months supply last year, but with Days On Market are increasing. Short sales still fill the list of Active properties with 33% of SFRs and 47% of Condos currently listed. For more information on Short Sales see my post at: Short Sale Information.
One area that will show some drastic changes in the coming months will be the number of NEW foreclosure listings and the available inventory. With the 90 day moretorium on froeclosures, this market will surely diminish from the current 12 SFR and 17 CONDOS (foreclosures) currently available for sale.
If you are considering a real estate transaction (buying,selling, relocating, investing), you can count on me as the local expert serving Rancho Santa Margarita, Ladera Ranch, Coto De Caza, Mission Viejo, Aliso Viejo, Dana Point, Irvine, Laguna Beach, Laguna Niguel, Laguna Hills, Laguna Woods, Lake Forest and San Juan Capistrano, as well as all of South Orange County.
John Alesi - REALTOR®
CENTURY 21 Superstars
Search the MLS at: www.YourOCHome.com
This post is copyrighted by John Alesi and may not be used without permission.
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