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23
Jan

Fullerton Real Estate Report

 

If youthought that the real estate market seemed slow over the holiday season you would be right.  According to the Fullerton Real Estate Report both pending sales and new listings coming on the market dropped.  Here are the numbers

Year over year new listings were down 1.9% for single family homes and down 24% for townhouse-condo properties. Pending sales decreased 41.5% for single family homes and decreased 47.6% for townhouse-condo units.  
The median sales price dropped slightly by 4.1% to $650000 for single family homes and edged up 3.9% to $395,000 for townhouse-condo properties. The supply of housing inventory remained flat for single family homes and decreased 29.5% for townhouse-condo units.  

Compare this with the overall Orange County report and you will see the same trend. Year over year new listings were down 9.2% for single family homes and 0.4% for townhouse-condo properties. Pending sales decreased 41.6% for single family homes and 41.0% for townhouse-condo units.  
The median sales price was up 4.5% to $626,000 for single family homes and up 4.9% to $398,444 for townhouse-condo properties. The supply of housing inventory decreased 12% for single family homes and decreased 14.3% for townhouse-condo units.  

With a new president at the helm there will no doubt be changes on the market.  However the general feeling about prospects in residential real estate for the immediate future is optimism. Despite continued challenges in this market, like low inventory and higher competition, there are still opportunities for buyers who are prepared to be creative and diligent. 

Fullerton Real Estate Report Source: Pacific West Association of Realtors. 

For the full statistical report please click here. 

For information about buying or selling in Fullerton please contact me

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