August 2013 Orange CA Real Estate Market Report

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

ORANGE CA REAL ESTATE LISTINGS INCREASE BY DOUBLE DIGITS

Real estate listings increased nearly 12% between July and August 2013, and year over year, the number of homes for sale in Orange, California jumped 26.9%. Although listings have crept up to their highest level since May of last year, the market is still out of balance, with far more potential buyers than sellers. Due to the continued low inventory, home prices have risen slightly throughout the majority or Orange and Orange Park Acres.

As expected, pending home sales fell 17.4% month over month in Orange, and by more than 45% when compared to August of last year. Once again, this is the result of the reduced inventory of homes for sale in Orange, California, and we will most likely see further declines in the coming months.

Orange real estate sales increased 14.7% on a month to month basis, and by 5.6%, as compared to August of the previous year. Based on the recent jumps in active listings and pending sales in Orange, we should these figures rise in coming months. In August 2013, the majority of real estate sales in Orange, California closed at or above the original list price. Given current market conditions, this is to be expected.

ACTIVE REAL ESTATE LISTINGS IN ORANGE CA = 198

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

Highest and Lowest Priced Real Estate Listings In Orange CA

  • Lowest priced property for sale in Orange, CA - $179,000.00
  • Highest priced property for sale in Orange, CA - $4,100,000.00

Orange CA Active Real Estate Listings By Property Type:

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

Orange CA Active Real Estate Listing By Sales Type:

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

Orange CA Active Real Estate Listings By Price Range:

  • 141 Orange properties priced above $500,000.00
  • 57 Orange properties priced at or below $500,000.00

ORANGE CA PROPERTIES IN PENDING AND BACK UP STATUS = 176

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

Pending Orange CA Properties By Sales Type:

  • 118 Standard
  • 2 REO*
  • 51 Short Sale**
  • 5 Other (Relocation Sale, Probate Sale, Flip, etc...)

ORANGE CA PROPERTIES SOLD IN AUGUST 2013 = 133

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

Orange CA Properties Sold By Sales Type:

  • 114 Standard Sales
  • 1 REO Sales*
  • 14 Short Sales**
  • 4 Other (Relocation Sales, Probate Sales, Flip, etc...)

List Price Versus Sales Price In Orange CA In August 2013

  • 20 Properties sold at list price
  • 53 Properties sold for less than list price
  • 60 Properties sold for more than list price

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

  • Lowest Orange, CA real estate sale - $190,000.00
  • Highest Orange, CA real estate sale - $1,600,000.00

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

For $190,000.00 you could have purchased a condo in Orange, California with the following features and amenities:

  • 1 Bedroom
  • 1 Bath
  • 810 SF
  • Built in 1979
  • $416 HOA Dues
  • Move In Condition
  • Short Sale
  • VA Financing
  • Sold For The List Price Of $190,000.00
  • Orange Unified School District
  • Located Near Old Towne Orange, In The "Morningside On The Lake" Complex
  • 92866 Zip Code

For $1,600,000.00 you could have purchased a home in Orange, California with the following features and amenities:

  • 5 Bedrooms
  • 5.5 Baths
  • 4,600 SF
  • 25,909 SF Lot
  • 4 Two Car Attached Garages With Built In Cabinetry And Epoxy Flooring
  • Built in 1998
  • Semi Custom Home
  • Upgraded Throughout
  • All Bedrooms With Private Baths
  • Office With Built-In Cabinetry
  • Bonus/Media Room
  • Vegetable Garden
  • Built-In, Stacked Stone BBQ
  • Built-In, Stacked Stone Fireplace
  • Sports Court
  • Rock Pool And Spa With Waterslide And Waterfalls
  • Standard Sale
  • Cash Purchase
  • Sold For Less Than The List Price Of $1,675,000.00
  • Orange Unified School District
  • Located In The "Parkridge Estates" Gated Community, Bordering Villa Park CA
  • 92867 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 and Sept 10, 2013.

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Momentum Realty

Orange County CA Real Estate Agent
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