August 2013 Placentia CA Real Estate Market Report

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

LISTINGS AND REAL ESTATE SALES JUMP IN PLACENTIA CA

Like many surrounding north Orange County cities, the number of homes for sale in Placentia, California rose by 25% between July and August 2013, and the year over year increase was 42.9%. Yet and still, an inventory shortage remains, which encourages buyers to participate in bidding wars, and pushes sales prices higher. Another contributing factor to the price hikes is the dwindling distressed listing market; Since August of last year, foreclosure listings have fallen 75%, and short sale listings dropped 50% in Placentia, due to the rising number of homeowners with regained equity.

Pending real estate sales fell 15.3% in Placentia, on a month to month basis, and tumbled 40% when compared to August of last year. The drop was inevitable, as inventory has remained incredibly low throughout 2013. Barring a major surge in available properties in Placentia, we will continue to see pending home sales decline in coming months.

Placentia real estate sales jumped 13.2% in August, compared to the previous month's sales figures, and by more than 22% when compared to one year earlier. Based on the number of active listings and pending sales in Placentia, sales figures may begin to decrease in coming months. In August 2013, the majority of real estate sales in Placentia, California closed at or above the original list price. Given current market conditions, this is to be expected.

ACTIVE REAL ESTATE LISTINGS IN PLACENTIA CA = 80

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

Highest and Lowest Priced Real Estate Listing in Placentia CA

  • Lowest priced property for sale in Placentia, CA - $140,000.00
  • Highest priced property for sale in Placentia, CA - $1,200,000.00

Placentia CA Active Real Estate Listings By Property Type:

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

Placentia CA Active Real Estate Listing By Sales Type:

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

Placentia CA Active Real Estate Listings By Price Range:

  • 47 Placentia CA properties priced above $500,000.00
  • 33 Placentia CA properties priced at or below $500,000.00

PLACENTIA CA PROPERTIES IN PENDING AND BACK UP STATUS = 72

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

Pending Placentia CA Properties By Sales Type:

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

PLACENTIA CA PROPERTIES SOLD IN AUGUST 2013 = 60

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

Placentia CA Properties Sold By Sales Type:

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

List Price Versus Sales Price In Placentia CA In August 2013

  • 12 Properties sold at list price
  • 23 Properties sold for less than list price
  • 25 Properties sold for more than list price

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

  • Lowest Placentia, CA real estate sale - $138,000.00
  • Highest Placentia, CA real estate sale - $835,000.00

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

For $138,000.00 you could have purchased a condo in Placentia, California with the following features and amenities:

  • 2 Bedrooms
  • 1 Baths
  • 845 SF
  • Built 1972
  • $165 HOA Dues
  • Some Upgrades In Kitchen
  • Short Sale
  • Cash Purchase
  • Sold For More Than List Price Of $135,000.00
  • Placentia Yorba Linda Unified School District
  • Located Near Cal State Fullerton
  • 92870 Zip Code

For $835,000.00 you could have purchased a house in Placentia, California with the following features and amenities:

  • 4 Bedrooms
  • 1 Full Bath And 2 Three Quarter Baths
  • 2,493 SF
  • 21,780 SF Lot
  • 3 Car Attached Garage
  • Built in 1978
  • Some Upgrades In Kitchen And Baths
  • Needs Updating Throughout The Living Areas
  • RV Parking
  • Pool And Spa
  • Standard Sale
  • Conventional Financing
  • Sold For Less Than The List Price Of $849,900.00
  • Placentia Yorba Linda Unified School District
  • Located On The Border Of Yorba Linda And Brea
  • 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 Sept 1 & Sept 10, 2013.

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Momentum Realty

Orange County CA Real Estate Agent
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