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June 2013 Placentia CA Real Estate Market Report
REAL ESTATE LISTINGS RISE, BUT INVENTORY SHORTAGE PERSISTS IN PLACENTIA
Although real estate listings shot up 77.8% on a month to month basis, the number of homes for sales in Placentia remained incredibly low in June 2013. Additionally, when compared to one year earlier, there were still 23.8% fewer properties for sale at the end of June. This is very unusual for this time of year, when real estate listings are typically at their peak. The extremely low inventory level in Placentia has caused home prices to rise rapidly over the past 12 months, as potential home buyers continue to compete in bidding wars for desirable properties.
Pending home sales were relatively flat between May and June, but reflected an increase of 10.6% year over year. Considering the low number of homes for sale in Placentia, this is surprising.
Closed real estate sales figures rose 12.8% month over month, but posted only a 5.6% gain over last year's sales figures for June. In June 2013, the majority of real estate sales in Placentia, California closed at or above the original list price. Based on current market conditions, this is to be expected.
ACTIVE REAL ESTATE LISTINGS IN PLACENTIA CA = 48 ... more

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