69 PERCENT FEWER HOMES FOR SALE IN BREA CA

Although there was a slight jump in active real estate listings in Brea, California, on a month to month basis, there were still 69% fewer homes for sale in Brea, at the end of January 2013, as compared to same time period of the previous year.

Due to the inventory shortage, buyers continue to compete for the same properties and have driven home prices upward. At this time there are very few entry level homes for sale in Brea, priced at $500,000 or below, and distressed sales have all but vanished.

Active Real Estate Listings in Brea CA = 22

Highest and Lowest Real Estate Listings in Brea CA:

• Lowest priced property for sale in Brea, CA - $350,000.00
• Highest priced property for sale in Brea, CA - $1,028,000.00

Brea CA Active Real Estate Listings By Property Type:

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

Brea CA Active Real Estate Listing By Sales Type:

• 16 Standard
• 1 REO*
• 3 Short Sale**
• 2 Other (Relocation Sale, Probate Sale, Flip, etc...)

Brea CA Active Real Estate Listings By Price Range:

• 15 Brea, CA properties priced above $500,000.00
• 7 Brea, CA properties priced at or below $500,000.00

PENDING REAL ESTATE SALES INCREASE IN FEBRUARY 2013

Pending home sales increased by 3% between January and February 2013, and by 10% year over year. A boost in real estate sales activity is atypical at this time of year, and is a good sign for the market. Although, unless more inventory comes on the market, the number of pending real estate sales in Brea will be declining in coming months.

Brea CA Properties In Pending And Back Up Status = 66

Brea CA Pending Properties By Sales Type:

• 35 Standard
• 3 REO*
• 23 Short Sale**
• 5 Other (Relocation Sale, Probate Sale, etc...)

LITTLE CHANGE IN REAL ESTATE SALES FIGURES IN BREA CA

There was very little change in the number of homes sold in Brea, California as compared to the previous month and year. Real estate sales increased by 12.5% month over month, and by only 5% year over year. However, an increase in sales is uncommon at this time of year, so this is very good news. It's possible that if there were more available properties in Brea, the jump in sales could have been even greater.

In February 2013, the majority of real estate sales in Brea closed at or below the original list price.

Brea CA Properties Sold in February 2013 = 21

Brea CA Properties Sold By Sales Type:

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

List Price Versus Sales Price In Brea CA In February 2012

• 2 Properties sold at list price
• 12 Properties sold for less than the list price
• 7 Properties sold for more than the list price

Highest and Lowest Real Estate Sales in Brea CA in February 2013

• Lowest Brea, CA real estate sale - $265,000.00
• Highest Brea, CA real estate sale - $995,000.00

What Home Buyers Got For Their Money in Brea CA in February 2013

For $265,000.00 you could have purchased acondo in Brea, California with the following features and amenities:

• 4 Bedroom
• 3 Bath
• 1,493 SF
• Built in 1976
• 2 Car Detached Garage
• $190 HOA Dues
• Needs Updating
• Short Sale
• Conventional Financing
• Sold For More Than The List Price Of $250,000.00
• Located On The Border Of La Habra
• Brea Olinda Unified School District
• 92821 Zip Code

For $705,000.00 you could have purchased ahome in Brea, California with the following features and amenities:

• 5 Bedrooms
• 3.5 Baths
• 4,131 SF
• 9,945 SF Lot
• Built in 2003
• 3 Car Attached Garage
• $119 HOA Dues
• Upgraded Throughout
• Bonus Room
• Game Room
• Gazebo
• Outdoor Fireplace
• Built In BBQ
• Hills View
• Standard Sale
• Conventional Financing
• Sold For Less Than The List Price Of $999,000.00
• Located In The Hills Of Brea, Near Yorba Linda CA
• Brea Olinda Unified School District
• 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 March 4, 2013.

RELATED ARTICLES:

• January 2013 Brea CA Real Estate Market Report
• February 2013 Fullerton CA Real Estate Market Report
• February 2013 Yorba Linda CA Real Estate Market Report
• February 2013 Placentia CA Real Estate Market Report
• February 2013 Tustin CA Real Estate Market Report