April Home Values Report – Anaheim Hills North OC 2017

April 2017 Anaheim Hills Home Values Report North OCDiagram of growth in real estate prices.

Anaheim Hills real estate sales decreased 15% in April for a total of 63 closed transactions. Last year this time there were 74 sales.  The recent sales included 16 condominium/town homes and 47 single family residences. The Average sale price, for all homes sold, increased by 8.3% from the year prior to $754,100.

Condos and town homes sold at a fast pace, closing escrow in 23 days or less. These homes, on average, sold for $493,250 at $401.35 per square foot and featured 3 bedrooms and 3 baths with 1,216 square feet of living space.

Single family homes sold possessed 4 bedrooms and 3 baths with 2,300 square feet of living space and 7,200 square foot lots. The properties sold in 27 days or less for $770,000 at $344.98 per square foot.

Luxury home sales increased significantly for the first time in 6 months. There were 7 homes sold with and average sale price of $1.5M on 32,306 square foot lots, with 4,544 square feet of living space, 5 bedrooms & 5 baths. These estate homes sold quickly, in less than 119 days, for approximately $330 per square foot.

Today, there are 102 homes for sale and Active on the MLS in Anaheim Hills: 8 are condominiums, and the remaining 94 are single family homes…36 of which are luxury properties leaving only 58 homes for sale near the median sale price range for the City. Home inventory has slightly improved since April in Anaheim Hills but still remains historically low. We believe, Seller’s have lost their motivation to move because they cannot find affordable replacement homes locally and buyers are highly frustrated with current pricing and the lack of inventory & choices.

Real estate remains a safe haven here in Anaheim Hills, as we are priced well below the surrounding cities of Yorba Linda, North Tustin and Irvine. We believe that it will remain a seller’s market into the summer months, especially for condominiums, town homes and single family detached residences under $1M.

The Nicolas Nicolaou Real Estate team remains informed about market trends and forecasts so we can help you make strategic home buying and selling decisions. As residents of North Orange County, we bring our passion for this extraordinary community to every transaction. Our award-winning Realtors® share a commitment to serving you with professionalism, accountability, and uncompromising standards of customer care. This is a great time to invest in Orange County! Welcome to our neighborhood!