06 Apr 2008

Brea Homes Sales Up in March 2008 ~ Real Estate Update

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brea-photo-small.jpgbrea-photo-small.jpgSales for single family homes in the City of Brea almost doubled in March compared to Feb. 2008.  

Brea is well known for excellence in education. The schools have been a strong asset for residents in our community. It’s often said Brea enjoys bigger city benefits, yet maintains a small town atmosphere. Many of us who live here feel it’s the best of both worlds. 

Single family sales activity for March 2008, prices were from $365,000 ~ $2,950,000.

  • 122 re-sale homes were for sale in March, down slightly  compared to  prior months of 134/132/150/156/161/156 respectively.  
  • 23  pending sales, went into escrow, almost double from last month at 12 and compared  6/9/9/6/8 in prior months.
  • 11 homes closed escrow in March compared to 13/8/8/13/13/23/15, respectively in prior months.
  • 28 homes were removed from the market, the listings either expired, were withdrawn or cancelled. Down from prior months.

Condo sales in March ~Condos/town-homes range from $269,000.00 to 550,000.

  • 21 condo/town-homes currently for sale, compared to 17/34/29/30/28 in preceding months.
  • 2 pending sales (same as last month) went into escrow in March, also compared to 0/3/5/2/5/7 preceding months.
  • 4 property closed escrow, compared to 2/0/3/3/2/4/6/4, respectively in preceding months.
  • 4 properties were removed from the market, the listings either expired, were withdrawn or cancelled. Also down from prior months.

The majority of Brea homes for sale were priced from the upper $600,000 range to the upper $800,000 range. In March there  were 12  homes for sale in Brea in excess of $1,000.000, including the upper end at $2,000,000+ for 3 custom homes located at the top of North Hills, Brea.

  • Brea’s current re-sale inventory stands at 7 months. Meaning at the current rate of sales (based on year-end statistics in 2007) it would take 7 months to sell the  inventory assuming no others (new listings) were added to the existing supply. 

-Data source is the SoCal MLS.

On Brea: ~ Median income for Brea is approximately $85,000 ~ Median age is 35 ~ City size is about 11 square miles.

If you lived in Brea you would be approximately:

  • 30 Miles east of downtown Los Angeles
  • 39 Miles from LAX ~ Los Angeles International Airport
  • 16 Miles from John Wayne Airport in Santa Ana
  • 10 Miles from Disneyland, the “Happiest Place on Earth” ~ Anaheim, CA.                       

To learn more about Brea take a tour around our city at  All About Brea~ Brea, CA 92821 & 92823 and view Sunset MagazineBrea The Best of The West and you will see why Brea’s the Place to Be. Looking for family entertainment in the City of Brea? View  Family Fun in Good Old Brea, or visit our City Hall Park, it’s like a step back in time.

Want more on Brea real estate? Contact me, Lynda Eisenmann at Preferred Home Brokers for Real Estate Help, we’re one of longest established real estate companies in Orange County under the same ownership.

About the Author

I maintains an active residential re-sale brokerage in Brea, CA, located in Orange County, about 20 minutes north of Disneyland. Contact Lynda directly at (714) 595-1494, or Lynda@PreferredHomeBrokers.com – CA License #00402040

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