Market Conditions in 92627>Question Details

Oc Buyer, Home Buyer in CDM

Median prices for non distressed sales in Costa Mesa, CA

Asked by Oc Buyer, CDM Thu Apr 24, 2008

Calling all you agent gurus with access to sales history.... we know that a good percentage of the closed sales this year have been foreclosure and short sales and that these are dragging prices down. However, their supply is a temporary thing. Supposedly the peak from origination is 18-24 mos, so we will see the peak of all of them no later than June 2009. Once that steady supply is gone, we are left with the real world of sellers. Can any of you tell us what the median price per sq ft was for condos and SFR's in Costa Mesa last month of the properties that were not distress sales?

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Answers

4
Christine Donovan ’s answer
The median sales price for all homes that sold in Costa Mesa in May 2008, that do not appear to have been distressed sales, was $538,250. The average sales price of those same homes was $640,295.

When distressed properties are added into the mix, there is a small change in the median sales price to $530,000. However, the average price drops to $570,540.

Please let me know if I may provide any additional information.
Web Reference: http://www.donovanblatt.com
1 vote Thank Flag Link Wed Jun 11, 2008
Dear OC Buyer,
Here is a snap shot of the last 4 months for Costa Mesa relating to prices:
Month Sale Price, Average List Price, Median
Jan $628,330 $599,000
Feb $611,250 $629,000
Mar $647,552 $684,500
Apr $697,619 $731,944


Even with distressed sales becoming a smaller portion of the segment since the 09 crisis they still exist and affect the sales figures.

If I can be of any further assistance please let me know.
0 votes Thank Flag Link Tue Apr 9, 2013
hey what did you mean by illiterate loan officers ended in two years. You can feel free to email me at tileman714@yahoo.com. If you think im illiterate it is certain that you are wrong. I have a bachelors architecture, and currently going to school for my masters, and I am a Mater dei High School graduate. I am 23 years of age i bought my house in Corona, and bought my first home at age 19 in Gilbert, Az. I have a small business, and I work for Wells Fargo as a personal banker, from reading your question asked on Median prices for non distressed sales in Costa Mesa I was able to conclude the real dumb asss is yourself. Please we all know foreclosures, and short sales are obvioiusly causing prices to diminish, especially in southern california, and there inventory is limited. I just really think your an ignorant a hole!
0 votes Thank Flag Link Wed Sep 23, 2009
I have an easy to read report that details the specific information you are looking for as well as a plethora of other pertinent info on Costa Mesa. It is in PDF form and can be emailed you with no obligation or follow-up. Let me know if you would like it.

Thanks
Web Reference: http://www.TheOCmls.com
0 votes Thank Flag Link Mon May 12, 2008
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