Irvine, CA (PRWEB) August 26, 2013
Nearly every property type in Southern California had something in common in July ... it went up in value. Fueled in part by near - record down payments for purchases, properties from $300,000 and up saw their sales volumes rise by more 50% from a year ago.
"These numbers are great. Buyers are putting their dollars to work by putting down large down payments and choosing the house they want to make a home," said Chis Pollinger, Senior Vice President, Sales, First Team Real Estate. "Sellers are putting more properties into the marketplace than earlier this year. This market has great momentum."
According to Dataquick, while slowing foreclosure activity and the mortgage market accounted for a tight sales market for homes priced below $300,000, the market for homes at or above the Southern California median property price of $385,000 was blazing hot.
Sales for homes priced higher than $300,000 grew by 51.7% from last year, while those above $500,000 saw volumes jump by 73.5%, and those above $800,000 experienced a sales volume increase of 77.5%.
In Orange County, the number of homes listed for sale increased slowly as measured against the previous year, with a 4% bump. With tight supply, home sellers are looking for every advantage.
"At First Team, our listing are up by 31% this year while total listings in Orange County are up only about 4% year over year," continued Pollinger. "For four decades our network has been analyzing values and helping home sellers get the most for their property and this year is proof."
Home sellers and buyers can review the trends and analysis discussed here by login onto firstteam.com Market Trends page and examining information down to the neighborhood level for communities across Southern California by logging onto http://ow.ly/od8aW .
"First Team's mission is to help home sellers and buyers make an informed decision," stated Chris Pollinger. "We have designed the technology our agents and company use to analyze values for you to be open to every home seller and buyer so that they can see the same data we see. It makes the market better and achieves more value for buyers and sellers which helps make Southern California a better place to live and work."
About First Team Real Estate
Growing from a single office in Huntington Beach, CA in 1976, First Team Real Estate is now Southern California's largest and most trusted private real estate agency with offices across California. In 2011 and 2012, First Team was recognized as Best Real Estate Company by the annual Orange County Register survey of 100,000 Southern California households. We can be reached at (888) 236-1943.
Firstteam.com is the official website of First Team Real Estate, and is used daily by thousands of unique users who trust its property and market analysis data which is updated four times daily on average. According to independent rating organizations of Internet usage and reach, firstteam.com is the most used brokerage property web site serving Southern California. For more information go to http://ow.ly/lZH0G .