August 2013 Brea CA Real Estate Market Report

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

BREA CA REAL ESTATE LISTINGS DECREASE IN AUGUST 2013

Unlike many surrounding north Orange County cities, Brea experienced a 9.1% drop in real estate listings on a month to month basis. However, there was a year over year increase in the number of homes for sale in Brea, California, of more than 31%. While listing figures rose in August 2013 and previous months, they remain well below average, and have left potential buyers with little to choose from. This is particularly true in the entry level price range of $500,000 and below.

Pending home sales in Brea remained fairly neutral between July and August 2013, but posted a drop of 49.5% in the year to year figures. This is, of course, due to the dwindling real estate inventory in Brea, California. Pending real estate sales will continue to decrease in coming months, unless there is a surge in inventory.

Although there was a month over month drop in Brea real estate sales of 17.5%, the year to year stats reflected an increase of nearly 27%. Considering the current number of active listings and pending sales, we may see closed sales figures pick up in coming months. In August 2013, the vast majority of real estate sales in Brea, California closed at or below the original list price. Given current market conditions, this was result of over aggressive pricing.

ACTIVE REAL ESTATE LISTINGS IN BREA CA = 50

Graph comparing the number of real estate listings in Brea CA in August 2013 to July 2013 and August 2012

Highest and Lowest Real Estate Listings in Brea CA:

  • Lowest priced property for sale in Brea, CA - $170,000.00
  • Highest priced property for sale in Brea, CA - $1,729,000.00

Brea CA Active Real Estate Listings By Property Type:

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

Brea CA Active Real Estate Listing By Sales Type:

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

Brea CA Active Real Estate Listings By Price Range:

  • 36 Brea, CA properties priced above $500,000.00
  • 14 Brea, CA properties priced at or below $500,000.00

BREA CA PROPERTIES IN PENDING AND BACK UP STATUS = 48

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

Brea CA Pending Properties By Sales Type:

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

BREA CA PROPERTIES SOLD IN AUGUST 2013 = 33

Graph comparing the number of real estate sales in Brea CA in August 2013 to July 2013 and August 2012

Brea CA Properties Sold By Sales Type:

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

List Price Versus Sales Price In Brea CA In August 2013

  • 6 Properties sold at list price
  • 22 Properties sold for less than the list price
  • 5 Properties sold for more than the list price

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

  • Lowest Brea, CA real estate sale - $322,500.00
  • Highest Brea, CA real estate sale - $1,050,000.00

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

For $322,500.00 you could have purchased acondo in Brea, California with the following features and amenities:

  • 2 Bedroom
  • 2 Bath
  • 1,100 SF
  • Built in 1979
  • $325 HOA Dues
  • Upgraded Kitchen
  • Laundry Hook-Ups
  • Standard Sale
  • Conventional Financing
  • Sold For More Than The List Price Of $315,000.00
  • Located Near Downtown Brea
  • Brea Olinda Unified School District
  • 92821 Zip Code

For $1,050,000.00 you could have purchased ahome in Brea, California with the following features and amenities:

  • 4 Bedrooms
  • 3 Baths
  • 3,309 SF
  • 5,824 SF Lot
  • Built in 1988
  • $147 HOA Dues
  • 3 Car Attached Garage
  • No Interior Photos Or Description Provided
  • Pool
  • Catalina And City Lights View
  • Standard Sale
  • Cash Purchase
  • Sold For Less Than The List Price Of $1,150,000.00
  • Located In The Hills Of Brea
  • 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 Sept 1 and Sept 10, 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

what a great local report to share with your prospects and clients today!

Sep 13, 2013 01:16 PM #1
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Rainer
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Momentum Realty

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