Costa Mesa Real Estate Sales Update

The past few months have had a tremendous impact on the ability of the buyer pool to be able to successfully negotiate and acquire a property. Prices of Costa Mesa real estate have increased as much as 25% in some areas since the first of the year. Our recent Costa Mesa Sales and their price comparison: 1795 Kinglet sold for $945,000 (on 4/29/13).Model match at 1842 Kinglet sold for $860,000 (on 10/21/12). This represents an increase of almost 10%. 2041 Mandarin is currently in escrow at $960,000 (scheduled to close on 7/3/13).Model match at 2056 Mandarin sold for $850,000 (on 1/31/13). This represents an increase of 12.9%. The current inventory of approximately 75 total properties for sale is a dozen more than 60 days ago but well below last years levels. Most of the activity is in the sought after $500,000 to $700,000 range with only a few homes to choose from. Sales in this category garnish multiple offers if priced aggressively. For a complete list of homes that are not yet on the market please email us at info@torellirealty.com or call 714-540-7355. 1795 Kinglet (shown below)          2041 Mandarin (shown below)