We analyze several housing market indicators in order to present an in-depth breakdown of Costa Mesa Real Estate Market comparing February 2009 to February 2010.
Summary of Key Points
Costa Mesa Real Estate has marginal signs of improvement .Median sales price was up 1.12%,number of units sold 6.45% and sellers received 92% of asking price as compared to 91% last year
Key Statistics, Costa Mesa, CA: Median Sales Price (1.12%), Median Days on Market (24.04%), and Number of Units Sold (6.45%), Sales Price to List Price Ratio (Feb 09 91% – Feb 10 92%)
Costa Mesa Real Estate
The city of Costa Mesa experienced an 1.12% increase in median sales price from last year going up from $527,016 (Feb. 09) to $532,895 (Feb. 2010). Median days on market data for Costa Mesa shows that houses are selling slower than Feb 09. It took 55 days in Feb 09 for a house to sell and for Feb 10 that number has gone up to 68 days (a 24.04% deterioration). Another important factor to consider is total number of units sold. In the month of Feb 09, 31 units were sold compared to 33 for Feb 10 (6.45% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Costa Mesa. SP/LP ratio for Feb 09 was 91% compared to 92% for Feb 10.
Let’s take a brief look at neighbors Newport Beach and Irvine. Newport Beach Real Estate featured a 23.39% increase in median sales price ($872,991 Feb 09 – $1,077,206 Feb 10) and Irvine Real Estate saw a 15.54% decrease ($1,021,650 Feb 09 – $862,875 Feb 10). Are houses in Newport Beach and Irvine selling faster or slower this year? Well, Newport Beach experienced a 57.76% increase (100 to 158 days) in median days on market and Irvine saw a 6.01% increase (65 to 68 days). In the units sold category, Newport Beach sold 5 units more (29.41%) in Feb 2010 than 09 and Irvine sold 24 units more (60.00%) in Feb 2010 than Feb 09.
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