Brea property and homes across Orange County are selling at their greatest since the collapse of the real estate industry in the mid-2000s. The overall number of homes purchased surged by 25% in November 2012 compared to the previous year, evidence that the local housing market is not only rallying by accelerating as we enter 2013. This increase in activity, combined with low inventory, has put valuations on a northward track. DataQuick Information Systems, which tracks real estate trends, also reported that the median housing price for Orange County increased an average of $50,000, over 12% in the same year-over-year comparison.
Numerous market indicators suggest that the frequency of real estate purchases in Orange Counties and areas like Brea are picking up pace, notably:
- November was the tenth consecutive month where more property was purchased year over year
- The rate of sales continue to climb in spite of a derth of inventory as reported by www.ReportsOnHousing.com
- The median house price in Orange County has only crested $450,000 twice since the real estate market dropped and both occurrences were in 2012, in June and October
And the low inventory of Brea homes for sale and rising prices have done nothing to discourage buyers from entering the housing market for the first time or purchasing investment property. Such strong, positive rates of change suggest that Brea will continue to grow in the next twelve months as it has done in the previous twelve to eighteen. If you are considering buying real estate in the Brea area, you should align yourself with a realtor who knows the area to help find your way through a landscape of competitive bids and hard-to-find properties.
I’ve been serving Brea luxury real estate for many years and would love to hear from you. Drop me a line today so we can begin the discussion.
City of Brea Real Estate
Personalize your search and have access to all homes for sale in the City of Brea within the Multiple Listing Service HERE
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