August 2013 Yorba Linda CA Real Estate Market Report

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

YORBA LINDA REAL ESTATE LISTINGS HIT A 19 MONTH HIGH

By the end of August 2013, the number of homes for sale in Yorba Linda, California rose to the highest level in more than 19 months, and posted a year over year increase of nearly 28%. Although listings have jumped, they remain relatively low, especially when compared to the peak of the recent real estate implosion. It's also important to note that, while inventory figures have surged, active listings in the entry level price range of $500,000 and below are still severely lacking, leaving many first time buyers priced out of the Yorba Linda real estate market.

Pending real estate sales in Yorba Linda were nearly identical in August 2013, compared to the figures documented in July. Compared to August of the previous year, pending home sales declined 34.1%, and there was a marked shift in the number of pending sales per listing category; While pending, standard listings increased 24%, pending foreclosures and short sales each dipped more than 70% year over year. The recent increase in Yorba Linda real estate listings may push pending sales higher in coming months. However, we are now at the end of the traditional summer buying season, and interest rates have increased. Therefore, the next few months will be critical in determining if these factors will have a negative effect on the Yorba Linda real estate market.

Month over month, Yorba Linda real estate sales declined 13.1%. However, when compared to one year earlier, sales increased more than 9%. Based on the current number of active listings and pending sales in Yorba Linda, I suspect that sales figures will jump slightly, in coming months. In August 2013, the majority of real estate sales in Yorba Linda, California closed at or below the original list price. Given current market conditions, this was most likely the result of over aggressive pricing.

ACTIVE REAL ESTATE LISTINGS IN YORBA LINDA CA = 215

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

Highest and Lowest Real Estate Listing in Yorba Linda CA

  • Lowest priced property for sale in Yorba Linda, CA - $210,000.00
  • Highest priced property for sale in Yorba Linda, CA - $3,500,000.00

Yorba Linda CA Active Real Estate Listings By Property Type:

  • 178 Single Family Residence
  • 37 Condo/Townhouse
  • 0 Other (Land, Mobile Home, Mixed Use Property, etc...)

Yorba Linda CA Active Real Estate Listing By Sales Type:

  • 202 Standard
  • 0 REO*
  • 11 Short Sale**
  • 2 Other (Relocation Sale, Probate Sale, Flip, etc...)

Yorba Linda CA Active Real Estate Listings By Price Range:

  • 193 Yorba Linda, CA properties priced above $500,000.00
  • 22 Yorba Linda, CA properties priced at or below $500,000.00

YORBA LINDA CA PROPERTIES IN PENDING AND BACK UP STATUS = 137

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

Pending Yorba Linda CA Properties By Sales Type:

  • 98 Standard
  • 2 REO*
  • 33 Short Sale**
  • 4 Other (Relocation Sale, Probate Sale, etc...)

YORBA LINDA CA PROPERTIES SOLD IN AUGUST 2013 = 93

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

Yorba Linda CA Properties Sold By Sales Type:

  • 82 Standard Sales
  • 3 REO Sales*
  • 7 Short Sales**
  • 1 Other (Relocation Sales, Probate Sales, etc...)

List Price Versus Sales Price In Yorba Linda CA In August 2013

  • 13 Properties sold at list price
  • 52 Properties sold for less than the list price
  • 28 Properties sold for more than list price

Highest and Lowest Real Estate Sales in Yorba Linda CA in August 2013

  • Lowest Yorba Linda real estate sale - $215,000.00
  • Highest Yorba Linda real estate sale - $1,750,000.00

What Home Buyers Got For Their Money in Yorba Linda CA in August 2013

For $215,000.00 you could have purchased a manufactured home in Yorba Linda, California with the following features and amenities:

  • 2 Bedrooms
  • 2 Baths
  • 943 SF
  • Built in 1964
  • $325 HOA Dues
  • Laundry Hook-Ups
  • Some Upgrades
  • Short Sale
  • Conventional Financing
  • Sold For Less Than The List Price Of $225,000.00
  • Placentia Yorba Linda Unified School District
  • Located Near Old Town Yorba Linda, On The West Side Of The City
  • 92886 Zip Code

For $1,750,000.00 you could have purchased a home in Yorba Linda, California with the following features and amenities:

  • 5 Bedrooms
  • 5.5 Baths
  • 4,600 SF
  • 11,000 SF Lot
  • 3 Car Attached Garage
  • Built in 2009
  • HOA Dues Undisclosed
  • Highly Upgraded Throughout
  • All Bedrooms With Private Baths
  • Saltwater Rock Pool And Spa With Waterslide
  • Covered, Built-In BBQ/Outdoor Kitchen Area
  • Outdoor Surround Sound
  • City Lights, Golf Course, And Catalina Island Views
  • Standard Sale
  • Conventional Financing
  • Sold For Less Than The List Price Of $1,799,900.00
  • Placentia Yorba Linda School District
  • Located In The Masters Development, In The Black Gold Golf Club Area
  • 92886 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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