November 2012 North Tustin CA Real Estate Market Report

By
Real Estate Agent with North Orange County CA Real Estate Specialists BRE# 01277795

ANOTHER DROP IN NORTH TUSTIN CA REAL ESTATE LISTINGS

Real estate listings fell in North Tustin, by nearly 9%, between October and November 2012. This has been an ongoing trend in 2012, and consistent with what we're seeing in many other Orange County cities. Since January, real estate listings in North Tustin have fallen by 14.7%, which is a much smaller drop than some surrounding areas. However, considering the fact that there are so few homes for sale in this small community to begin with, any reduction in available properties is quite significant.  The combination of the extraordinarily low inventory, combined with an average demand continues to place upward pressure on housing prices.

Active Real Estate Listings in North Tustin CA = 52

Graph comparing the number of real estate listings in North Tustin CA in January, October and November 2012

Highest and Lowest Priced Real Estate Listings in North Tustin CA:

  • Lowest priced property for sale in North Tustin, CA - $500,000.00
  • Highest priced property for sale in North Tustin, CA - $3,395,000.00

North Tustin CA Active Real Estate Listings By Property Type:

  • 52 Single Family Residence
  • 0 Condo/Townhouse
  • 0 Other (Land, Mobile Home, Mixed Use Property, etc...)

North Tustin CA Active Real Estate Listing By Sales Type:

  • 50 Standard
  • 0 REO*
  • 1 Short Sale**
  • 1 Other (Relocation Sale, Probate Sale, Flip, etc...)

North Tustin CA Active Real Estate Listings By Price Range:

  • 51 North Tustin, CA properties priced above $500,000.00
  • 1 North Tustin, CA properties priced at or below $500,000.00

PENDING REAL ESTATE SALES UP BY MORE THAN 23 PERCENT

Pending real estate sales increased by more than 23% month over month, in North Tustin, California, and have risen by 54.1% since the beginning of 2012. Considering that November is a time of year when real estate sales typically decrease, this is a very good sign that an Orange County real estate market rebound has officially arrived.

North Tustin CA Properties In Pending And Back Up Status = 37

Graph comparing the number of pending real estate sales in North Tustin CA in January, October and November 2012

Pending North Tustin CA Properties By Sales Type:

  • 24 Standard
  • 1 REO*
  • 11 Short Sale**
  • 1 Other (Relocation Sale, Probate Sale, Flip, etc...)

NORTH TUSTIN REAL ESTATE SALES FALL BY 50 PERCENT IN NOVEMBER 2012

Although closed real estate sales fell by 50% from October to November 2012, I believe that we will see this number increase over the next couple of months; The number of homes that are currently listed as pending in North Tustin, California, indicate that we should see the closed sales jump substantially by the end of December 2012 and into January of 2013.

North Tustin CA Properties Sold in November 2012 = 9

Graph comparing the number of real estate sales in North Tustin CA in January, October and November 2012

North Tustin CA Properties Sold By Sales Type:

  • 7 Standard Sales
  • 0 REO Sales*
  • 2 Short Sales**
  • 0 Other (Relocation Sales, Probate Sales, Flip, etc...)

Highest and Lowest Real Estate Sales in North Tustin CA in November 2012

  • Lowest North Tustin real estate sale - $653,000.00
  • Highest North Tustin real estate sale - $2,100,000.00

What Home Buyers Got For Their Money in North Tustin CA in November 2012

For $653,000.00 you could have purchased a home in North Tustin, California with the following features and amenities:

  • 4 Bedroom
  • 3 Bath
  • 2,707 SF
  • 10,500 SF Lot
  • Built in 1964
  • 2 Car Attached Garage
  • Needs Updating
  • Pool and Spa
  • Standard Sale
  • Conventional Financing
  • Tustin Unified School District
  • 92705 Zip Code

For $2,100,000.00 you could have purchased a home in North Tustin, California with the following features and amenities:

  • 4 Bedrooms
  • 6 Baths
  • 6,000 SF
  • 79,285 SF Lot
  • 3 Car Detached Garage
  • Built in 1984
  • Custom Built Home
  • Gated Estate
  • Upgraded Kitchen
  • Wine Cellar
  • Exercise Room
  • Elevator
  • Private Office with Built Ins
  • Built In BBQ
  • Saltwater Pebble Tech Pool and Spa
  • Panoramic Hills, City Lights and Catalina Island Views
  • Located in the Cowan Heights area
  • Standard Sale
  • Conventional Financing
  • Tustin Unified School District
  • 92705 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 Dec 1st, 2012.

RELATED ARTICLES:

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
California Orange County North Tustin
Groups:
Realestateandfunding
2013MarketReports
Tags:
market report
north tustin real estate
north tustin ca

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
298,462

Momentum Realty

Orange County CA Real Estate Agent
Ask me a question
*
*
*
*
Spam prevention

Additional Information