Brea, CA 92821, 92823 ~ Real Estate Market 2/2008

If you’re planning on buying or selling a Brea home, you might find this interesting. I normall complete a market update every month. If you want more info on the Brea real estate market, contact me, Lynda@PreferredHomeBrokers.com

• Single family sales activity for Feb. 2008, prices range from $375,000 to $2,950,000

• 134 re-sale homes currently for sale, almost the same as 132 for January and  down from prior months of 150/156/161/156 respectively.  
• 12  pending sales, now in escrow, compared to up from 9/6/9/9/ 6/8 in prior months.
• 13 homes closed escrow in Feb/up from last 2 months, 8/8/13/13/23/15, respectively in prior months.

Condominium sales activity for Feb.~Condos/townhomes range from $275,000.00 to 550,000

• 17 condo/town-homes were for sale, the same as Jan. and fewer than 34/29/30/28 in preceding months.
• 2 pending sales went into escrow in Feb., same as last month and compared to 0/3/5/2/5/7 preceding months.
• 1 property closed escrow, compared to 0/3/3/2/4/6/4, respectively in preceding months.

The majority of homes for sale in Brea are priced from the upper $600,000 range to the upper $800,000 range. Currently there are 17 homes for sale in Brea in excess of $1,000.000. In addition there are three new custom homes in excess of $2,900,000.

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.

Facts about beautiful 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”