July 2012 Placentia CA Real Estate Market Report

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

MULTIPLE OFFERS AND LACK OF INVENTORY PERSIST IN PLACENTIA CA

Placentia, California real estate listings inched up by a modest 6.3% from June to July 2012. However, the total number of homes and condos for sale in Placentia remains extremely low as the inventory has decreased by almost 31% since January. The number of foreclosure properties available in Placentia, in July, were identical to those documented in January, and are nearly non-existent.

Desirable properties are often pending within a short period of time in Placentia, and traditional home buyers continue to compete with real estate investors for homes under $500,000. Multiple offers are now commonplace in Placentia, California as there is a definite lack of supply, to fill the current demand. 

Active Real Estate Listings in Placentia CA = 67

Graph comparing the number of real estate listings in Placentia CA in January, June and July 2012

Highest and Lowest Priced Real Estate Listing in Placentia CA

  • Lowest priced property for sale in Placentia, CA - $149,000.00
  • Highest priced property for sale in Placentia, CA - $919,000.00

Placentia CA Active Real Estate Listings By Property Type:

  • 57 Single Family Residence
  • 10 Condo/Townhouse
  • 0 Other (Land, Mobile Home, Mixed Use Property, etc...)

Placentia CA Active Real Estate Listing By Sales Type:

  • 42 Standard
  • 6 REO*
  • 17 Short Sale**
  • 2 Other (Relocation Sale, Probate Sale, etc...)

Placentia CA Active Real Estate Listings By Price Range:

  • 27 Placentia CA properties priced above $500,000.00
  • 40 Placentia CA properties priced at or below $500,000.00

PENDING REAL ESTATE SALES DROP BY DOUBLE DIGITS IN PLACENTIA CA IN JULY 2012

Pending real estate sales fell 10.6% in Placentia, California, on a month to month basis, but are still nearly 44% higher than the number of pending real estate sales posted in January. Standard, foreclosure and short sale listings all contributed to the decline in pending sales, as all 3 categories dropped from June to July 2012.

Placentia CA Properties In Pending And Back Up Status = 118

Graph comparing the number of pending real estate sales in Placentia CA in January, June and July 2012

Pending Placentia CA Properties By Sales Type:

  • 43 Standard
  • 4 REO*
  • 67 Short Sale**
  • 4 Other (Relocation Sale, Probate Sale, etc...)

STANDARD REAL ESTATE SALES UP BY MORE THAN 88% IN PLACENTIA CA

Closed real estate sales inched upward in Placentia, California from June to July 2012, with a modest increase of 3.7%, and real estate sales in the area have shot up over 83% since the beginning of the year. The progressive increase in sales in 2012 has been felt across the board, with standard sales, foreclosures and short sales all moving in a positive direction. However, by far, the biggest contributor to the jump is in the number of standard real estate listings sold in Placentia, which have spiked by 88.2% since January.

Placentia CA Properties Sold in June 2012 = 55

Graph comparing the number of real estate sales in Placentia CA in January, June and July 2012

Placentia CA Properties Sold By Sales Type:

  • 32 Standard Sales
  • 9 REO Sales*
  • 12 Short Sales**
  • 2 Other (Relocation Sales, Probate Sales, etc...)

Highest and Lowest Real Estate Sales in Placentia CA in July 2012

  • Lowest Placentia, CA real estate sale - $105,000.00
  • Highest Placentia, CA real estate sale - $729,000.00

What Home Buyers Got For Their Money in Placentia CA in July 2012?

For $105,000.00 you could have purchased a condo in Placentia, California with the following features and amenities:

  • 3 Bedrooms
  • 2 Baths
  • 1,052 SF
  • Clean But Not Updated
  • Built in 1972
  • $265 HOA Dues
  • Short Sale
  • All Cash Purchase
  • Placentia Yorba Linda Unified School District
  • Located Near the Border of Fullerton
  • 92870 Zip Code

For $729,000.00 you could have purchased a home in Placentia, California with the following features and amenities:

  • 4 Bedrooms
  • 3 Baths
  • 3,010 SF
  • 5,139 SF Lot
  • 3 Car Attached Garage
  • Built in 1999
  • $90 HOA Dues
  • Updated
  • Office
  • Built-In BBQ
  • Golf Course View
  • Standard Sale
  • Conventional Financing
  • Placentia Yorba Linda Unified School District
  • Located in the Alta Vista Golf Community
  • 92870 Zip Code

*REO: Real Estate Owned. Foreclosed properties currently owned by the lender.
** Short Sale: Properties that are still owned by the borrower, however the borrower is attempting to sell the property for less than what is owed to the lender, which requires lender approval.

Information contained in this market report was compiled from available MLS data as of August 1st, 2012.

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