April 2013 North Tustin CA Real Estate Market Report

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

INVENTORY DOWN AND SALES UP IN NORTH TUSTIN CA

The number of homes for sale in North Tustin, California continued to decline month over month, while pending and closed real estate sales increased slightly between March and April 2013. The lack of inventory and summer season demand has resulted in further price increases for North Tustin homes.

In April 2013, the majority of real estate sales in North Tustin, California, closed at or below the list price. Based on current market conditions, this appears to be the result of overly aggressive pricing.

ACTIVE REAL ESTATE LISTINGS IN NORTH TUSTIN CA = 45

Graph comparing the number of real estate listings in North Tustin CA in April 2013 to March 2013 and April 2012

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

  • Lowest priced property for sale in North Tustin, CA - $489,000.00
  • Highest priced property for sale in North Tustin, CA - $4,200,000.00

North Tustin CA Active Real Estate Listings By Property Type:

  • 45 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:

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

North Tustin CA Active Real Estate Listings By Price Range:

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

NORTH TUSTIN CA PROPERTIES IN PENDING AND BACK UP STATUS = 45

Graph comparing the number of pending real estate sales in North Tustin CA in April 2013 to March 2013 and April 2012

Pending North Tustin CA Properties By Sales Type:

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

NORTH TUSTIN CA PROPERTIES SOLD IN APRIL 2013 = 20

Graph comparing the number of real estate sales in North Tustin CA in April 2013 to March 2013 and April 2012

North Tustin CA Properties Sold By Sales Type:

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

List Price Versus Sales Price In North Tustin CA In April 2013

  • 3 Property sold at list price
  • 13 Properties sold for less than list price
  • 4 Property sold for more than list price

Highest and Lowest Real Estate Sales in North Tustin CA in April 2013

  • Lowest North Tustin real estate sale - $560,000.00
  • Highest North Tustin real estate sale - $2,720,000.00

What Home Buyers Got For Their Money in North Tustin CA in April 2013

For $560,000.00 you could have purchased ahome in North Tustin, California with the following features and amenities:

  • 3 Bedroom
  • 2 Bath
  • 1,538 SF
  • 16,000 SF Lot
  • Built In 1953
  • 2 Car Detached Garage
  • Cash Offers Only Due To Condition Of Property
  • Major Repairs And Upgrading Required
  • REO
  • All Cash Purchase
  • Sold For Less Than The List Price Of $499,900.00
  • Located In The Panorama Heights Area Of North Tustin
  • Tustin Unified School District
  • 92705 Zip Code

For $2,720,000.00 you could have purchased ahome in North Tustin, California with the following features and amenities:

  • 5 Bedrooms
  • 3.5 Baths
  • 4,100 SF
  • 21,250 SF Lot
  • 3 Car Attached Garage
  • Built In 1984
  • Remodeled And Highly Upgraded Throughout
  • Office With Built In Desk, Cabinetry And Book Shelves
  • Built-In Wet Bar With Sink, Wine Refrigerator And Cabinetry
  • Pool and Spa With Water Features
  • Outdoor Fireplace
  • Standard Sale
  • All Cash Purchase
  • Sold For Less Than The List Price Of $1,565,000.00
  • Located In The Cowan Heights Area
  • 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 May 1 & May 25, 2013.

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