June 2013 Placentia CA Real Estate Market Report

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

REAL ESTATE LISTINGS RISE, BUT INVENTORY SHORTAGE PERSISTS IN PLACENTIA

Although real estate listings shot up 77.8% on a month to month basis, the number of homes for sales in Placentia remained incredibly low in June 2013. Additionally, when compared to one year earlier, there were still 23.8% fewer properties for sale at the end of June. This is very unusual for this time of year, when real estate listings are typically at their peak. The extremely low inventory level in Placentia has caused home prices to rise rapidly over the past 12 months, as potential home buyers continue to compete in bidding wars for desirable properties.

Pending home sales were relatively flat between May and June, but reflected an increase of 10.6% year over year. Considering the low number of homes for sale in Placentia, this is surprising.

Closed real estate sales figures rose 12.8% month over month, but posted only a 5.6% gain over last year's sales figures for June. In June 2013, the majority of real estate sales in Placentia, California closed at or above the original list price. Based on current market conditions, this is to be expected.

ACTIVE REAL ESTATE LISTINGS IN PLACENTIA CA = 48

Graph comparing the number of Placentia CA real estate listings in June 2013 to May 2013 and June 2012

Highest and Lowest Priced Real Estate Listing in Placentia CA

  • Lowest priced property for sale in Placentia, CA - $189,900.00
  • Highest priced property for sale in Placentia, CA - $899,000.00

Placentia CA Active Real Estate Listings By Property Type:

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

Placentia CA Active Real Estate Listing By Sales Type:

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

Placentia CA Active Real Estate Listings By Price Range:

  • 26 Placentia CA properties priced above $500,000.00
  • 22 Placentia CA properties priced at or below $500,000.00

PLACENTIA CA PROPERTIES IN PENDING AND BACK UP STATUS = 83

 Graph comparing the number of Placentia CA pending real estate sales in June 2013 to May 2013 and June 2012

Pending Placentia CA Properties By Sales Type:

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

PLACENTIA CA PROPERTIES SOLD IN JUNE 2013 = 56

Graph comparing the number of Placentia CA real estate sales in June 2013 to May 2013 and June 2012

Placentia CA Properties Sold By Sales Type:

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

List Price Versus Sales Price In Placentia CA In June 2013

  • 14 Properties sold at list price
  • 14 Properties sold for less than list price
  • 28 Properties sold for more than list price

Highest and Lowest Real Estate Sales in Placentia CA in June 2013:

  • Lowest Placentia, CA real estate sale - $141,000.00
  • Highest Placentia, CA real estate sale - $900,000.00

What Home Buyers Got For Their Money in Placentia CA in June 2013?

For $141,000.00 you could have purchased a house in Placentia, California with the following features and amenities:

  • 4 Bedrooms
  • 2 Baths
  • 2,000 SF
  • 7,680 SF Lot
  • Built in 1938
  • 3 Structures On Property
  • Major Repairs Needed
  • Sold For Land Value Only
  • Standard Sale
  • Cash Purchase
  • Sold For More Than List Price Of $128,000.00
  • Placentia Yorba Linda Unified School District
  • Located On The Border Of Anaheim, In A Mostly Industrial And Commercial Area
  • 92870 Zip Code

For $900,000.00 you could have purchased a house in Placentia, California with the following features and amenities:

  • 5 Bedrooms
  • 3 Baths
  • 2,957 SF
  • 6,843 SF Lot
  • 3 Car Attached Garage
  • Built in 1995
  • HOA Dues Not Disclosed
  • Highly Upgraded Throughout
  • Pool And Spa
  • Built-In BBQ
  • Golf Course And Lake Views
  • Standard Sale
  • Conventional Financing
  • Sold For More Than The List Price Of $899,888.00
  • Placentia Yorba Linda Unified School District
  • Located In The Alta Vista Country Club Community In The Hamptons On The Green Subdivision
  • 92870 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 July 1 & July 10, 2013.

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