August 2013 North Tustin CA Real Estate Market Report

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

STILL A SELLERS MARKET IN NORTH TUSTIN CA

Real estate listings rose on a month to month and year to year basis, with the number of homes for sale in North Tustin, California increasing more than 14% between July and August 2013. Although North Tustin real estate inventory is at the highest level since July of last year, there is still a shortage and subsequent imbalance between buyers and sellers. Therefore, it remains a seller's market in North Tustin.

Month over month there was a drop in pending home sales of 27.6% in North Tustin, California, and a decrease of more than 38%, when compared to August of last year. The reduction in these figures can be attributed to the low inventory level. However, given the current number of active listings in North Tustin, pending sales figures may begin to level off or increase in coming months, unless buyer demand drops.

The number of North Tustin real estate sales declined 23.3% between July and August 2013, but increased 21% when compared to August of the previous year. These figures should increase in coming months, based on the recent jump in available listings. In August 2013, the majority of real estate sales in North Tustin, California closed at or below the original list price.

ACTIVE REAL ESTATE LISTINGS IN NORTH TUSTIN CA = 63

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

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

  • Lowest priced property for sale in North Tustin, CA - $675,000.00
  • Highest priced property for sale in North Tustin, CA - $4,200,000.00

North Tustin CA Active Real Estate Listings By Property Type:

  • 63 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:

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

North Tustin CA Active Real Estate Listings By Price Range:

  • 63 North Tustin, CA properties priced above $500,000.00
  • 0 North Tustin, CA properties priced at or below $500,000.00

NORTH TUSTIN CA PROPERTIES IN PENDING AND BACK UP STATUS = 21

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

Pending North Tustin CA Properties By Sales Type:

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

NORTH TUSTIN CA PROPERTIES SOLD IN AUGUST 2013 = 23

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

North Tustin CA Properties Sold By Sales Type:

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

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

  • 3 Property sold at list price
  • 14 Properties sold for less than list price
  • 6 Property sold for more than list price

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

  • Lowest North Tustin real estate sale - $491,000.00
  • Highest North Tustin real estate sale - $1,650,000.00

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

For $491,000.00 you could have purchased ahome in North Tustin, California with the following features and amenities:

  • 3 Bedroom
  • 1.75 Bath
  • 1,621 SF
  • 6,098 SF Lot
  • Built In 1968
  • 2 Car Attached Garage
  • Needs Updating
  • Standard Sale
  • Conventional Financing
  • Sold For More Than The List Price Of $489,000.00
  • Located In The Flat Land Of North Tustin, On The Border Of Santa Ana
  • Tustin Unified School District
  • 92705 Zip Code

For $1,650,000.00 you could have purchased ahome in North Tustin, California with the following features and amenities:

  • 5 Bedroom
  • 4 Full Baths, 1 Three Quarter Bath, And 1 One Quarter Bath
  • 5,330 SF Main House
  • 24,581 SF Lot
  • 4 Car Attached Garage
  • Built In 2003
  • Custom, Gated Estate Home
  • Highly Upgraded Throughout
  • Bonus Room With Wet Bar
  • Media Room
  • Stacked Stone And Rock Pool And Spa With Fountain And Waterslide
  • Oversized Stacked Stone Fireplace With Built-In Seating
  • Built- In BBQ Island
  • Canyon, Hills, And Trees View
  • Standard Sale
  • Conventional Financing
  • Sold For Less Than The List Price Of $1,799,000.00
  • Located In The Lemon 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 Sept 1 & Sept 10, 2013.

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Rainer
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Momentum Realty

Orange County CA Real Estate Agent
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