Orange County Real Estate Success

Mission Viejo Real Estate Statistics – Time to build that portfolio!

Posted on November 1, 2012. Filed under: First Time Buyer help, Informed Investor Alliance, OC Property Profiles, Orange County Real Estate | Tags: 1st time Home Buyer, 1st time home buyers, mission viejo homes, mission viejo homes for sale, mission viejo properties, mission viejo property, Mission Viejo Real Estate, mv property, MV Real Estate |

Mission Viejo Real Estate is selling like no other! Homes come on the market and are off just like that. Here are some of the stats for Mission Viejo Real Estate, but 1st I will allow you to view the meanings of each before anyone is confused as to what each stand for…

• 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 occurred.
• Withdrawn – similar to cancelled status, this property has been withdrawn from the market.

Current Mission Viejo Real Estate Statistics

Active: 108
Attached: 19
Detached: 89

Back Up: 154

Pending: 107

Closed (last 30 days): 114

Now lets compare these stats with last years Mission Viejo home statistics.

Average Sale Price in Mission Viejo 1 Year Ago: $416,951
Average Sale Price in MV in the Past 30 Days: $428,500

Avg. Square foot price 1 year ago: $231.31
Avg. Square foot price Today: $280.77

Avg. Days on Market 1 year ago: 93
Avg. Days on the Market Now: 76

We are currently moving towards a seller’s market in Mission Viejo.  There are an average of 4.5 offers for every one property, and we are seeing properties sell in 1 day or even before they hit the MLS!!  Now is a perfect time to move up and get more square footage for less than ever before. If your interested in upgrading your home, or adding to your Mission Viejo real estate portfolio, please contact The Weeks Team 888-281-7665 for more info on how you can take advantage of this ideal real estate opportunity!

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