LESS THAN 2 DOZEN PROPERTIES FOR SALE IN BREA CA
There was an unbelievable 42.4% drop in homes for sale in Brea, California between December 2012 and January 2013, leaving less than 2 dozen properties for sale in the entire city. Compared to one year ago, real estate listings in January 2013 had plummeted by a shocking 69.3%.
The Brea, California real estate market remains very stable and it is definitely a seller's market due to the incredibly low inventory level and healthy demand for housing in the area. Multiple offers and bidding wars persist in Brea, which has driven home prices up at a steady pace. Because of this, there are less than a handful of entry level properties available in Brea. This includes only 4 houses priced at or below $500,000, and no condos for sale at all.
Active Real Estate Listings in Brea CA = 19
Highest and Lowest Real Estate Listings in Brea CA:
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Lowest priced property for sale in Brea, CA - $455,000.00
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Highest priced property for sale in Brea, CA - $1,250,000.00
Brea CA Active Real Estate Listings By Property Type:
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19 Single Family Residence
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0 Condo/Townhouse
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0 Other (Land, Mobile Home, Mixed Use Property, etc...)
Brea CA Active Real Estate Listing By Sales Type:
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17 Standard
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0 REO*
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2 Short Sale**
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0 Other (Relocation Sale, Probate Sale, Flip, etc...)
Brea CA Active Real Estate Listings By Price Range:
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15 Brea, CA properties priced above $500,000.00
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4 Brea, CA properties priced at or below $500,000.00
PENDING SALES UP IN JANUARY 2013 BUT WILL IT LAST?
Pending home sales jumped 16.3% in Brea, California, on a month to month basis. Additionally, the number of pending real estate sales in January 2013 reflected a similar increase when compared to one year ago. Unless there is a sharp increase in properties for sale in Brea within the next month or so, I would expect to see the number of pending sales decrease as a result, as current pending properties begin to close escrow.
Brea CA Properties In Pending And Back Up Status = 64
Brea CA Pending Properties By Sales Type:
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36 Standard
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3 REO*
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20 Short Sale**
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5 Other (Relocation Sale, Probate Sale, etc...)
SEASONAL DIP IN BREA CA REAL ESTATE SALES
Brea, California real estate sales fell month over month, but reflected a slight increase in numbers when comparing property sales in January 2013 and January 2012. A monthly drop is to be expected at this time of year, since most buyers and sellers are busy with the holidays in November and December, which reduces the number of homes that are put into escrow and subsequently close in January.
Brea CA Properties Sold in January 2013 = 24
Brea CA Properties Sold By Sales Type:
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14 Standard Sales
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1 REO Sales*
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8 Short Sales**
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1 Other (Relocation Sales, Probate Sales, Flip, etc...)
List Price Versus Sales Price In Brea CA In January 2012
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4 Properties sold at list price
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13 Properties sold for less than the list price
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7 Properties sold for more than the list price
Highest and Lowest Real Estate Sales in Brea CA in January 2013
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Lowest Brea, CA real estate sale - $235,000.00
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Highest Brea, CA real estate sale - $705,000.00
What Home Buyers Got For Their Money in Brea CA in January 2013
For $235,000.00 you could have purchased a condo in Brea, California with the following features and amenities:
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2 Bedroom
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1.25 Bath
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1,123 SF
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Built in 1972
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2 Car Attached Garage
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$305 HOA Dues
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Some Update
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Located Near Downtown Brea
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Short Sale
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Conventional Financing
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Sold For More Than The List Price Of $229,900.00
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Brea Olinda Unified School District
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92821 Zip Code
For $705,000.00 you could have purchased a home in Brea, California with the following features and amenities:
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5 Bedrooms
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3 Baths
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3,200 SF
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5,000 SF Lot
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Built in 2002
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3 Car Attached Garage
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$119 HOA Dues
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Bonus Room
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3 Zone A/C and Heat System
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Whole House Air Filtration System
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Built In BBQ
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Hills View
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Standard Sale
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All Cash Purchase
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Sold For Less Than The List Price Of $719,500.00
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Brea Olinda Unified School District
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92821 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 the lender must approve.
Information contained in this market report was compiled from available MLS data as of Feb 1 & Feb 4, 2013.
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