Mission Viejo Market Update - How's the Real Estate Market? by Leslie Eskildsen

As of today, April 1, 2013 there are 85 homes for sale in Mission Viejo.  64 are detached homes and 21 are attached.  77 of the 85, 91%, are Standard Sales; 4 of the 85, 5% are Short Sales or have been served a Notice of Default; 3 of the 85, 4%, are REO - which stands for Real Estate Owned and what you might call bank owned homes.  One of the 85 homes on the market in Mission Viejo today is to be sold at auction. 5 of the 85, 6%, are in a Senior Community - you have to be 55 years old or older to live there.

Over the last month, 118 Mission Viejo homes closed escrow.  Of those that sold last month, 34  - 40% - were attached homes and 84, 60%, were detached homes.  91 were Standard Sales, 20 were Short Sales or NODs, and 5 were REOs. 2 sold at Auction closed escrow in the last 30 days.

The most expensive home to sell in Mission Viejo in the past month sold for $1,016,500 - $53,500 OVER the list price of $963,000.  This is the one of the homes sold at Auction last month.  It is located in Stoneridge.

The lease expensive home to sell in Mission Viejo in the past months sold for $148,000 - $12,000 LESS that the list price of $160,000.  A condo in Los Polmas.  It was a Short Sale. As best I can read the tea leaves, it sold last October.  Prices have gone up a bunch since last October, that lucky buyer must be feeling pretty good right now!

It's still a Seller's Market in Mission Viejo today.  This is not an April Fools' joke.

Do you like these kinds of market updates?  Do you want to see some different numbers?  Let me know what you'd like to see and I'll add it to the list for next month's update.

Or just give me a call.  949-678-3373.