Yorba Linda CA 2012 Real Estate Market Trends

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

YORBA LINDA CA HOUSING INVENTORY DOWN - PENDING AND SOLD PROPERTY UPGraph Comparing the Number of Available Property for Sale in Yorba Linda CA as of Feb 1st and March 1st

Like it's neighboring city, Anaheim Hills, Yorba Linda, California is experiencing a lack of desirable property for sale, as recent sales activity has caused the available housing inventory in Yorba Linda to drop from February 1st to March 1st. Another noticeable decrease was in the amount of foreclosure listings and short sale listings, and it looks as though these properties are being snatched up as soon as they hit the market. As a result, the number of pending properties and sold properties increased month over month in Yorba Linda, according to data compiled on March 1st.

PRICES STABILIZING IN YORBA LINDA CA

Low inventory and increased home sales in Yorba Linda are positive signs, proving that buyers are coming down off the fences and taking advantage of the incredible deals. However, don't be too surprised if prices are not as low as you thought they would be; Yorba Linda did not see the steep declines that some other Orange County, California cities experienced, and prices seem to have stabilized, with some properties selling for more than the listed price.

YORBA LINDA CA LUXURY HOMES MOVING QUICKLY

Luxury homes (homes above $1,000,000) typically take longer to sell. However, many luxury homes in Yorba Linda, California are moving at a rapid rate. Waiting it out, to see if the seller will reduce the price, is not advisable as the highest February home sale in Yorba Linda, took only 6 days! In fact, over the past 6 months, all of the highest selling homes in Yorba Linda have taken an average of only 51 days to sell (less than 2 months). This is a very short period of time for properties in this price range, and would have been considered "normal", even at the peak of the last real estate cycle when properties were flying off the market.

Graph of the Highest Yorba Linda CA Luxury Home Sales and How Many Days They Were on the Market

WILL HOME PRICES DROP FURTHER IN YORBA LINDA CA?

Although you can find a great deal on a home or condo in Yorba Linda, as compared to the boom years, prices have still not dropped to 2002 levels, when I last purchased a home in Yorba Linda, California. And, in my opinion, I doubt that we will see any further, major declines in property value, as the inventory is far too low, and Yorba Linda, California remains a highly desirable city to live in.

HE WHO HESITATES LOSES

Whether you are a real estate investor or a would be homeowner, this is an excellent time to buy property in Yorba Linda, California, to take advantage of the reduced housing prices and the historically low interest rates, before they both begin to increase. As the Chinese proverb reads, "he who hesitates loses"!

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2013MarketReports
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