Big Picture: Real Estate in the City of Brea has seen to normalize with a a swing upward in home prices. The numbers are largely positive. Before I bore you with the details, here’s the scoop. This is great news for home sellers, but as a buyer, finding a home has been a difficult task.
The Details:
For Brea Single Family Homes and Condos
New Listings were down 12.1 percent for single family homes and up 50 percent for Townhome / Condo properties. There is a great shortage of homes for sale and a great number of buyers waiting to buy a home. If you’re a homeowner thinking about selling, you may want to consider right now! You’ll definitely get top dollar.
Pending Sales increased a big 100 percent for single-family homes and 20 percent for townhouse-condo properties.
The Median Sales Price was up 5.3 percent to $495,000 for single family homes and 26.9 percent to $295,000 for Townhome / Condo properties. Prices will continue to rise as long as there is a strong demand for housing. There are many buyers wanting to live in the city of Brea.
Months Supply of Inventory decreased 65.8 percent for single-family units and 79.4 percent for townhouse-condo units. Months Supply of Inventory means how many months it will take to sell every home that is currently for sale in Brea. This is a very low number and is one of the main reasons home are starting to get up in price quickly. In a normal market, you would want to see about 3 months inventory.
It’s important to watch the economy, since job growth directly fuels home purchases and since the housing industry generates jobs. The economy has added about 6.1 million jobs over the past 35 months, a sluggish but encouraging trend. Interest rates are slowly moving higher in some regions, though the affordability picture remains extremely attractive.
I provided a chart and graph below with more information on the current real estate market in Brea.
If you are thinking of selling your property, contact me for a consuiltation. I will tell you how much you can sell your property for and what is the best way to market your home. 714.989.6040. diego@ehomeliving.com
Buyers, let me know if you are looking to buy in Brea. We have a special priority list for new homes that hit the market. 714.989.6040 diego@ehomeliving.com
Current Homes For Sale in the City of Brea
To See Homes For Sale in Other Areas Search HERE
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