Home sales more than doubled in December 2008 when compared to December 2007.
What is even more interesting is looking at the statistics that make up these numbers. In December 2007, only 31 homes sold compared to 77 in December 2008. This is obviously a huge increase. But, during that same time, median home prices are down $100,000, and the number of bank owned homes that sold in December 2008 is 41 versus only 4 in December 2007.
Bank owned homes accounted for over half of the sales in December 2008 as compared to less than 15% in December 2007.
It is likely that the decrease in median price is driven, at least in part, by the number of bank owned homes that make up such a huge percentage of the number of homes sold.
As pent up buyer demand meets up with lower prices and lower interest rates, it appears that we will continue to see more sales.
If you would like to take advantage of the current low prices and low interest rates, please contact me at 714-319-9751.
More Costa Mesa market reports:
Costa Mesa Real Estate Report
Central Costa Mesa Real Estate Report
South Coast Metro Real Estate Report
Mesa Verde Real Estate ReportWestside Costa Mesa Real Estate Report
Eastside Costa Mesa Real Estate Report
Click for a free list of Orange County foreclosures or a free list of Orange County short sales or e-mail Me!
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About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.
Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? Contact me at christine@donovanblatt.com or 714-319-9751 to discuss your options.
Want to buy a home or to list your property for sale in Newport Beach, Costa Mesa, Huntington Beach or Orange County? Contact christine@donovanblatt.com or 714-319-9751 to learn about my system which will make your buying and selling experience easier.
Click Orange County homes for sale to view all OC homes for sale.
Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied.
Copyright © 2009 by Christine Donovan, All Rights Reserved.
Costa Mesa Home Sales More than Double Over Last December - Median Home Price Down $100,000..
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About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.
Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? For more information see Options to Foreclosures, understanding short sales or contact me at christine@donovanblatt.com to discuss your options.
If you want to buy a home or to list your property for sale, please click Newport Beach homes, Costa Mesa homes, Huntington Beach homes or Orange County homes. Click the link if you are interested in buying a home at a courthouse auction sale.
Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.
Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.
Federal Government Disclaimer (MARS)
- You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject or accept the offer, you do not have to pay us.
- Christine Donovan, DonovanBlatt and Donovan Group are not associated with the government, and our service is not approved by the government or your lender; and
- Even if you accept this offer and use our service, your lender may not agree to change your loan.
Click Orange County homes for sale to view all OC homes for sale.
