May Home Values Report – Anaheim Hills North OC 2017

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

Anaheim Hills real estate sales decreased 3% in April for a total of 66 closed transactions. Last year this time there were 68 sales.  The recent sales included 20 condominium/town homes and 46 single family residences. The Average sale price, for all homes sold, decreased by 4.1% from the year prior to $723,161.

Condos and town homes sold at a fast pace, closing escrow in 16 days or less. These homes, on average, sold for $495,364 at $390.47 per square foot and featured 2 bedrooms and 2.5 baths with 1,250 square feet of living space.

Single family homes sold possessed 4 bedrooms and 3 baths with 2,015 square feet of living space and 7,307 square foot lots. The properties sold in 14 days or less for $719,131 at $370.89 per square foot.

Luxury home sales remained steady in May. There were 4 homes sold with and average sale price of $1.78M and sat on 56,628 square foot lots, with 4,557 square feet of living space, 5 bedrooms & 5 baths. These estates sold quickly, in less than 144 days, for approximately $394.30 per square foot. The North OC Luxury Real Estate market trails the main stream market in the recent recovery and we believe it is poised for significant appreciation in 2017.

Today, there are 105 homes for sale and Active on the MLS in Anaheim Hills: 17 are condominiums, and the remaining 88 are single family homes…31 of which are luxury properties leaving only 40 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 heated seller’s market into the next fiscal quarter, especially for condominiums, town homes and single family detached residences under $1M.

Nicolaou Real Estate Services 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. It’s always a great time to invest in Orange County! Welcome to our neighborhood!