Number of Homes for Sale in Costa Mesa at a Low...

Number of Homes for Sale in Costa Mesa at a Low...  Why That Is Bringing Home Prices Up  There are only 75 Costa Mesa homes that are “active” in the SoCal Multiple Listing Service. Normally there are about twice as many homes for sale. The shrinking number of homes for sale means that there are less homes for shoppers to choose from and, even better, we are seeing home values on the rise. The basic rule of supply and demand is in effect and the result is that many homeowners are reaping the benefit. When homes are priced reasonably they are getting a high level of interest. While all price points are experiencing the same conditions, the hottest price range we are currently seeing is in homes under $600,000. Our agents are working with many qualified buyers who are approved to purchase in this price point. As a result, it is not uncommon for homeowners to receive multiple offers on these homes within just days of hitting the market. Two recent examples: -2137 Sabot Cove… Listed at $489,000 and sold for $495,000 – YES, $10,000 ABOVE THE LIST PRICE!!! – We received several offers after the first weekend that this home was listed for sale  -2984 Croftdon… Listed at $475,000 – Also received multiple offers  We started blogging about the shrinking real estate inventory earlier this year and now as we enter the fall the supply is even lower. Please contact us today for an evaluation of your home and to find out how you can take advantage of these unique market conditions. 714-540-7355 or info@torellirealty.com