While many Orange County communities have seen dips in the real estate market or at least a leveling out during the second half of 2013, the Brea home market continues to hold extremely strong. In fact, not only is the Brea market remaining steady in the second half of the year with home values higher than many neighboring areas, but these values are only continuing to grow as demand stays strong in this beautiful Fullerton-area community of just under 40,000 residents.
Brea Real Estate Trends
An August 30th real estate analytics report from California-based data tracker Altos Research saw the median list price on Brea homes at $592,646. This number for the 90-day home value average was a 2013 high for Brea homes, and was up about $72,000 from the beginning of the year when the median list price was closer to $520,000. The more current seven-day average also saw a yearly high, with the median list price here at upwards of $640,000, representing a gain of over six figures for the seven-day since January.
While these numbers point heavily to this hot market staying heavily in favor of sellers, there are other reasons to believe that Brea could be seeing a bit of a break for buyers. Yes, home prices continue to soar, but there have been an increasing number of homes listed for sale in recent months. With 86 properties on the market for the 90-day average, the Brea market is currently experiencing its highest volume in that area for all of 2013. That said, the seven-day average has been spiking downward in recent weeks—a sign that should influence the 90-day average and keep buyers on their toes. Relative to this, average days on market (DOM) for Brea homes are also trending downward, indicating that quicker turnaround time is occurring, with the current Brea DOM at 66.
Interested in hearing more about Brea homes for sale? I’m a Brea real estate agent with extensive experience in the local home buying and selling economy. Please contact me as it would be my pleasure to show you around this amazing Fullerton-area city.