Costa Mesa Housing Report

You have probably heard the news by now that the housing market across the nation has heated up in the Spring months. With a 30% increase in inventory since March, the Orange County housing market continues to be white hot. The increase in homes is not for one particular market segment, but across all price points. Even with the increase in inventory levels, the new homes on the market are unable to satisfy consumer demand. You might have seen a "For Sale by Torelli Realty" sign pop up in your neighborhood, this is a sign of the times. Sellers are seeing the appreciation in their homes and are ready to move up. Another positive indicator is that there are fewer short sales and foreclosure listings on the market. Although these properties will still play a part in the Costa Mesa Housing Market, they no longer define the inventory. This means that individual home owners are controlling the market, and appreciation. Bank-owned properties are no longer dominating the landscape. As of last week, Costa Mesa has 76 active listings, of which only 5 are short sales, which represent 6.6% of the active inventory. Things are looking up, Costa Mesa, if you have any interest in home values in your area, please contact our team of professionals at Torelli Realty today at info@torellirealty.com or call 714-540-7355.