Are Homes Still Selling in Costa Mesa, or Was There Really a Market Slow Down?

By
Real Estate Agent with Donovan Blatt Realty

Are Homes Still Selling in Costa Mesa, or Was There Really a Market Slow Down?

 

According to the National Assocation of Realtors (NAR), existing home sales fell 27% in July, bringing them to the lowest level since 1995.

 

Does that mean that the floor dropped out of the real estate market in Costa Mesa, or are Costa Mesa Homes still selling?  To determine this, I looked at statistics for the end of June and the end of August, after the supposed drop to see if homes are still selling.

 

What did I find, I found that though there has been a drop in home sales, it wasn't the precipitous drop reported by NAR.

 

As of 8/29/10, 47 homes had sold in Costa Mesa during the month of August with 241 homes actively for sale.

 

Compare that to 60 homes sold in the month of June as of 6/26/10 with 215 homes actively for sale.

 

So, there's definitely a difference, but how big is it really?

 

If you look at the number of months of inventory (homes on the market) over a 3 month period, you'll see that it's not a huge change.  Between June and August, the change in inventory went from 3.27 months to 4.02 months.  This means that if no new homes came up for sale, and homes continued to sell at the same pace, then all homes would be sold in 3.27 months in June or 4.02 months in August. 

 

Though it does a show a slow down in sales, it is not a huge number.  What does this mean?  It means that real estate is local and that it's important to know what's going on in your local market, not just nationally.  It also means that Costa Mesa homes are still selling.  Based on the numbers, Costa Mesa is still in a seller's market though it is moving closer towards a balanced market (neither buyers' nor sellers' marke)t.

 

If you're considering buying or selling a home in Costa Mesa, it's important to have someone who understands the local real estate market, so please give me a call at 714-319-9751

To see a snapshot of the market at the end of June and at the end of August, please see below.

 

 

costa mesa homes,costa mesa real estate

orange county real estate,orange county home value


Costa Mesa Homes,Costa Mesa Real Estate

Click Costa Mesa homes for sale to view all Costa Mesa homes for sale. Copyright © 2010 by Christine Donovan, All Rights Reserved. Are Homes Still Selling in Costa Mesa, or Was There Really a Market Slow Down?.



For more information about buying and selling Costa Mesa homes, please contact Christine Donovan at 714.319.9751. Christine Donovan Are Homes Still Selling in Costa Mesa, or Was There Really a Market Slow Down?

Posted by

***************************************************************************

About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.

Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? For more information see Options to Foreclosures, understanding short sales or contact me at christine@donovanblatt.com to discuss your options.

If you want to buy a home or to list your property for sale, please click Newport Beach homes, Costa Mesa homes, Huntington Beach homes or Orange County homes.  Click the link if you are interested in buying a home at a courthouse auction sale.

Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.

Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.

Click Orange County homes for sale to view all OC homes for sale.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
California Orange County Costa Mesa
Tags:
costa mesa homes for sale

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the key to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
908,726
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Christine you are doing a great job with your analysis of the market. I have seen the news report figures that don't quite match up as well.

September 22, 2010 08:01 AM #1
Ambassador
1,550,626
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 800-610-7253 DRE01267479 - Costa M

Bill - Thank you.  Things have slowed a little, but just not the way the media seems to be reporting it.

September 22, 2010 10:09 AM #2
Rainer
11,142
Jeremy OnullNeal
Corona Realty - Corona, CA
Corona Real Estate Expert

Christine, Great job on this blog. It really helps to get a local look at real estate. You are inspiring me to do the same analysis in my market. Thanks for the inspiration.

September 22, 2010 11:32 AM #3
Ambassador
1,550,626
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 800-610-7253 DRE01267479 - Costa M

Jeremy - Thanks.  Let me know if you need any help with yours.

September 22, 2010 11:11 PM #4
Rainmaker
1,002,824
Charles McDonald
Charlottesville Real Estate Solutions - Charlottesville, VA
REALTOR®, Blogger, Principal Broker®, Owner

it does feel like things are slowing again, but I am busy with buyers and loving it :)

Your Friend in Charlottesville!

September 23, 2010 08:12 AM #5
Ambassador
1,550,626
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 800-610-7253 DRE01267479 - Costa M

Charles - There's been a little slow down, just not as much as the media seems to be saying.

September 23, 2010 10:14 AM #6
Show All Comments
Ambassador
1,550,626

Christine Donovan

Broker/Attorney 800-610-7253 DRE01267479 - Costa M
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tshirt to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information