Tustin homebuying is flat. Here’s what we know! – Orange County Register

Here are homebuying highlights for Tustin and North Tustin from ReportsOnHousing for August, where combined sales of existing homes ran essentially flat (down one) vs. a year ago.

This house-hunting data tracks resales of existing detached and attached residences in the communities. Analysis includes August trends based on closed sales: sale counts; average price vs. average list price; high and low price paid in the month; average cost per square foot and average size; plus, based on broker listing networks stats on Sept. 7, the “market time” metric comparing supply of listings to new escrows opened in past 30 days.

In Tustin …

Sales: 84 sold vs. 77 a year ago.

Average sales price: $796,032 that ranked No. 19 out of 46 Orange County markets tracked and was up 21.4 percent in a year.

Compared to list: Sellers got 98.7 percent of what they typically asked for, ranking No. 22 of the 46 markets.

Range: High sale of $2,680,000 vs. the $265,000 low.

Sizing: On average, buyers paid $400 per square foot on a 1,990 square-foot residence. This pricing metric was up 3.6 percent in a year.

Market speed: 40 days, listing to escrow opened vs. 69 days a year ago and 62 days two years ago.

In North Tustin …

Sales: 28 sold vs. 36 a year ago.

Average sales price: $1,217,405 that ranked No. 6 out of 46 Orange County markets tracked and was up 8.8 percent in a year.

Compared to list: Sellers got 97.3 percent of what they typically asked for, ranking No. 40 of the 46 markets.

Range: High sale of $3,300,000 vs. the $609,200 low.

Sizing: On average, buyers paid $389 per square foot on a 3,127 square-foot residence. This pricing metric was up 13.5 percent in a year.

Market speed: 88 days, listing to escrow opened vs. 135 days a year ago and 147 days two years ago.

Compare those patterns to countywide trends …

Sales: 3,110 sold vs. 3,069 a year ago, up 1 percent.

Average sales price: $831,964 — up 5.8 percent in a year.

Compared to list: Sellers got 98.1 percent of what they asked for.

Range: High sale of $21 million vs. $58,500 low.

Sizing: $447 per square foot (on a 1,863 square-foot residence), up 5.6 percent in a year.

Market speed: 64 days vs. 78 a year ago and 80 two years ago.

How much housing can you buy for $350,000?

SEE: $350,000 new home in Orange County? It’s in the works in Rancho Mission Viejo

Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *