Real Estate Market Update data for July 2013

Posted by David Feldberg on Wednesday, August 14th, 2013 at 1:25pm.

Its always important to know your market so here are some stats from a few cities in Orange County from July of 2013. I have illustrated the change from July of 2012. Green for an increase and Red for a decrease.

Newport Beach Single Family Homes Townhouse or Condo
# of New Listings 90 (2.3%) 24 (-33.3%)
# of Pending Sales 75 (29.3%) 32 (18.5%)
Average Sales Price $1,921,781 (13.1%) $743,227 (-3.2%)
# of Homes for Sale 201 (-47.4%) 50 (-51.0%)

 

Costa Mesa Single Family Homes Townhouse or Condo
# of New Listings 82 (39.0%) 20 (-4.8%)
# of Pending Sales 55 (7.8%) 29 (7.4%)
Average Sales Price $750,392 (25.5%) $429,719 (24.3%)
# of Homes for Sale 96 (37.7%) 15 (-73.2%)

 

Corona Del Mar Single Family Homes Townhouse or Condo
# of New Listings 25 (13.6%) 13 (-27.8%)
# of Pending Sales 20 (17.6%) 9 (0.0%)
Average Sales Price $2,517,711 (16.8%) $1,364,750 (0.1%)
# of Homes for Sale 54 (-38.6%) 26 (-38.1%)

 

Huntington Beach Single Family Homes Townhouse or Condo
# of New Listings 138 (-4.8%) 97 (61.7%)
# of Pending Sales 124 (6.0%) 71 (-22.0%)
Average Sales Price $899,663 (19.8%) $504,322 (50.0%)
# of Homes for Sale 230 (-39.8%) 118 (-31.8%)

 

As you can see from the data above prices have been on the rise in Orange county for the last year. Looking at the decreasing number of homes for sale in Newport Beach and most cities you can expect prices to be on the rise for the foreseeable future. What's the basic rule of economics, low supply equals higher demand?

If you have any questions about buying a home or selling a home in Newport Beach, Costa Mesa, Corona Del Mar, Huntington Beach, or anywhere in Orange County please contact one of our knowledgeable realtors today!

David Feldberg

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