How is the Placentia Real Estate market doing? Well, for one thing, there is a typical seasonal slowdown at this time of year, but more significantly there just are not enough new homes coming on the market. The lack of inventory is quite significant and evident with the local market update for Placentia Real Estate. And when homes come on the market they are being snapped up quickly by eager buyers. Here are the stats.
Year over year new listings for Placentia Real Estate were down 38.5% for single family homes and down 60% for townhouse-condo properties. Pending sales decreased 58.5% for single family homes and decreased 33.3% for townhouse-condo units. The median sales price was up 1.5%% to $660,000 for single family homes but down 5.4% to $450,200 for townhouse-condo properties. The supply of inventory decreased 38.4% for single family units and decreased 6.3% for townhouse-condo units.
As of the end of September the average time a home was on the market until it is sold and closed was just 27 days. There were only 53 single family homes and 15 townhouse-condo for sale in Placentia as of the end of September 2017.
Data Source: Pacific West Association of Realtors
For the complete Placentia Real Estate statistical report click here