Real Estate Market Brea, CA

March 25th 2016 - Namneet Dhaliwal, Broker President  Zone Realty Inc.

Real estate market in Brea, CA is experiencing a shortage of homes for sale. Inventory is low compared to normal levels. Currently there are 61 active homes for sale. 66 pending and 25 backup which makes for 91 homes under contract. Out of these only 23 homes including town homes and condos are under $700,000.  15 homes are above one million dollar, and rest are between $700,000 to $1,000,000. Although this economy is different than the 2006, and buyer mentality is different, this reminds of that time, when interest rates were bottom low which resulted in inflated prices. Caution to buyer! buy what you can afford. Caution to seller! price reasonably you will sell, if you been thinking of selling and was holding off for market to get better. This is the time to take a leap.

March 1st 2016  - Namneet Dhaliwal, Broker President, Zone Realty Inc.

Real Estate Market Update
Real Estate Market Update

Inventory and days-on-market are both moving upwords. At the same time coming spring buying season will push for some increased demand. It could temper the negative trends. In the last few weeks the market have been on stand still in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller's Market zone so watch changes in the Monthly Available Inventory. If the market heats up, prices are likely to resume an upward climb. The market appears to be staying around this plateau. Look for a persistent change in the Market Action Index before we see prices change from these levels.

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