Yorba Linda Homes Total City Market Update March 5, 2013

By
Real Estate Agent with TNG Real Estate Consultants

Yorba Linda homes search as of March 5, 2013:

84 ACTIVE listings and 152 homes in ESCROW ... that is jaw-dropping. 

That is a 64% ratio of homes in ESCROW to TOTAL homes on the market.

 I tracked these numbers back in 2005/2006.  Guess what the ratio was back then for Yorba Linda? 

  20%  The ratio today is TRIPLE what it was back in a slow market in 2006.

Are homes selling right now?  You better believe it.  Homes are selling fast and often, for more than asking price.  The casual newspaper or online news reader is usually a little behind the times, but when I talk to people at grocery stores, Starbucks, car washes, they all know that the market is good for selling.

So why such low inventory?   Why aren't people taking advantage of a time in which there just aren't that many good homes out there for buyers to buy? 

Obvious reasons include needing to wait until closer to summer to keep kids' school schedules from interruption; others cite getting the home ready, need to re-do the carpet, need to re-do the windows, the kitchen, etc.

The reality is:  price your home anywhere near fair market value and your home will sell regardless of whether there are some things that need to be done.  Especially in a city like Yorba Linda.

 

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