July 2013 Orange CA Real Estate Market Report

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

REAL ESTATE SALES AND LISTINGS BOTH INCREASE IN ORANGE CA IN JULY 2013

Real estate listings grew 8.6% on a month to month basis. However, year over year the number of homes for sale in Orange, California declined by 1.1% as of the end of July 2013. In addition, home prices have continued to rise, as a result of the inventory shortage, particularly in the distressed sales category; foreclosure and short sale listings have fallen consistently and dramatically over the past year, leaving few bargains for home buyers to fight over.

Unlike many surrounding Orange County cities, pending home sales increased nearly 2%, between June and July 2013. Although, there was a yearly drop in pending real estate sales in Orange, of more than 33%. This decrease can be contributed entirely to the low inventory of real estate listings in Orange and Orange Park Acres.

Month over month, closed real estate transactions rose 11.5% in Orange, and posted a year to year gain of 1.8%. Sales figures may begin to taper off in coming months due to the low number of homes for sale in the area, coupled with the usual drop in real estate activity experienced at the end of summer. In July 2013, the majority of real estate sales in Orange, California closed at or below the original list price. Given current market conditions, this is unusual,  and it's important to note that the number of sales that closed above the list price were almost identical to those that closed for less than the listed price.

ACTIVE REAL ESTATE LISTINGS IN ORANGE CA = 177

Graph comparing the number of real estate listings in Orange CA in July 2013 to June 2013 and July 2012

Highest and Lowest Priced Real Estate Listings In Orange CA

  • Lowest priced property for sale in Orange, CA - $239,900.00
  • Highest priced property for sale in Orange, CA - $4,100,000.00

Orange CA Active Real Estate Listings By Property Type:

  • 144 Single Family Residence
  • 32 Condo/Townhouse
  • 1 Other (Mobile Home, Manufactured Home, Mixed Use Property, etc...)

Orange CA Active Real Estate Listing By Sales Type:

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

Orange CA Active Real Estate Listings By Price Range:

  • 131 Orange properties priced above $500,000.00
  • 46 Orange properties priced at or below $500,000.00

ORANGE CA PROPERTIES IN PENDING AND BACK UP STATUS = 213

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

Pending Orange CA Properties By Sales Type:

  • 144 Standard
  • 2 REO*
  • 60 Short Sale**
  • 7 Other (Relocation Sale, Probate Sale, Flip, etc...)

ORANGE CA PROPERTIES SOLD IN JULY 2013 = 116

Graph comparing the number of real estate sales in Orange CA in July 2013 to June 2013 and July 2012

Orange CA Properties Sold By Sales Type:

  • 99 Standard Sales
  • 5 REO Sales*
  • 11 Short Sales**
  • 1 Other (Relocation Sales, Probate Sales, Flip, etc...)

List Price Versus Sales Price In Orange CA In July 2013

  • 21 Properties sold at list price
  • 49 Properties sold for less than list price
  • 46 Properties sold for more than list price

Highest and Lowest Real Estate Sales In Orange CA In July 2013

  • Lowest Orange, CA real estate sale - $155,000.00
  • Highest Orange, CA real estate sale - $1,790,000.00

What Home Buyers Got For Their Money In Orange CA in July 2013

For $155,000.00 you could have purchased a condo in Orange, California with the following features and amenities:

  • 1 Bedroom
  • 1 Bath
  • 763 SF
  • Built in 1976
  • 1 Car Attached Garage
  • $310 HOA Dues
  • Move In Condition
  • Short Sale
  • Cash Purchase
  • Sold For More Than The List Price Of $150,000.00
  • Orange Unified School District
  • Located In East Orange
  • 92869 Zip Code

For $1,790,000.00 you could have purchased a home in Orange, California with the following features and amenities:

  • 3 Bedrooms
  • 3 Full Baths, And 2 Half Baths
  • 3,700 SF
  • 47,916 SF Lot
  • 4 Two Car Attached Garages With Built In Cabinetry And Epoxy Flooring
  • Built in 2004
  • Custom Home
  • Upgraded Throughout
  • Hydraulic Lifts In Garage
  • Office
  • Gym
  • Built-In BBQ
  • Built-In Fire Pit And Seating
  • Putting Green
  • Sports Court
  • Pool And Spa
  • RV Parking
  • Standard Sale
  • Cash Purchase
  • Sold For Less Than The List Price Of $2,100,000.00
  • Orange Unified School District
  • Located In East Orange, In The Orange Park Acres Area
  • 92869 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 August 1 and August 11, 2013.

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Rainmaker
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Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

great report to educate buyers and sellers in your area on the current market and how it is moving along!

Aug 21, 2013 11:20 AM #1
Rainer
298,462
Momentum Realty
North Orange County CA Real Estate Specialists - Yorba Linda, CA
Orange County CA Real Estate Agent

Thanks again, Mark!

Aug 22, 2013 04:31 AM #2
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Rainer
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Momentum Realty

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