Mission Viejo Real Estate Statistics – lots of homes for sale!

Posted on January 4, 2012. Filed under: First Time Buyer help |

Mission Viejo lake from the MissionViejo.org blog

Mission Viejo lake from the MissionViejo.org official city blog

Mission Viejo Real Estate is aplenty right now 🙂  How many homes do you think are on the market and available?  Here’s the stats!!

Active: 262
Attached: 89
Detached: 171

Backup: 168
Pending: 66
Closed: 86 (in the past 30 days)

Lots of moving going on!  We compared this to the same timeframe one year ago, and there were 80 closed sales…meaning the market in Mission Viejo is steady if not a little up.

Since we’ll be doing a more reporting on Mission Viejo Real Estate this year, now is a great time to explain what these ‘status’ labels actually mean.

  • Active – indicates the property is on the market and accepting buyer offers.
  • Backup – means the home has technically accepted a buyer offer and is sold, but the buyer is still in his/her contingency period of due diligence investigations and full loan approval.  California buyers get 17 days after offer acceptance to complete all contingencies and inspections.
  • Pending – implies all contingencies have been removed on this listing and its only a matter of time until close.
  • Closed – entails the buyer’s loan has funded, and title has officially recorded in the new owner’s name.

There are a few other status’ you may see:

  • Hold – property is on hold and not being shown to new buyers for various reasons. (there are 36 of those right now)
  • Cancelled – means the property listing was cancelled by the owner before a sale took place.
  • Expired – indicates the listing agreement on the home for sale expired before a sale occured.
  • Withdrawn – similiar to cancelled status, this property has been withdrawn from the market.

Its interesting to note that comparing the last 30 days to the same period one year ago, the price per square foot has gone DOWN, but the average sales price and days on the market has gone UP:

Average sale price in Mission Viejo 1 year ago:  $435,042
Average sale price in MV over the last 30 days:  $467,640

Average price per square foot 1 year ago:  $262.50
Average price per square foot today:  $240.84

Average days on market 1 year ago:  93
Average days on market now:  108

According to the stats, it sounds like buyers are still getting more square feet for their money 🙂  That combined with super low interest rates makes buying a home in Mission Viejo or relocating anywhere in Orange County ideal!

For some additional perspectives on business, commerce, and fun in Mission Viejo here is the current State of the City:

Contact The Weeks Team today at 877-230-3211 for more information, or click to start searching right now for your new home in Mission Viejo!

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    Orange County, CA Real Estate for hip first-time buyers and investors. Plus, fun things to know and do in OC.

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