Like most areas of the country, 2009 was a rough year for the upscale real estate market. However, 2010 seems to have a little more momentum and some solid home sales.
Whats going on in Fullerton CA?
Over the past 3 months, the city of Fullerton CA has seen the following statistics for home sales over the million dollar price point.
24 active listings.
5 homes under contract in escrow
8 homes sold
Of those 8 home sales, 3 have sold in the last 30 days
90 day average to sell
What is selling in Fullerton?
Things are definitely starting to sell in the last 3 months but the absolute highest sale is just under $1.5 million. Homes over this price point have taken an extra long time to sell in the current market. The lower part of the million dollar range has been the most active with the average upscale sale around $1.2 million. Not suprisingly, only one of the homes sold had 4 bedrooms, the majority of homes sold have had either 5 or 6 bedrooms and averaged approximately 4,000 sqft.
What this all means?
Buyers - If your looking to purchase a large home in Fullerton, there are plenty of good options available even if you desire 5 bedrooms and 4,000 square feet. We have seen some of these homes sell in under 5 days so buyers need to be prepared that premium homes on premium lots that are priced competitively will require quick attention.
Sellers - Homeowners looking to sell their luxury homes in Fullerton need to understand that it may take 90 days or longer to sell if they want a premium price. They should also understand that houses with only 4 bedrooms and under the 3500 square foot will have a difficult time competing in the million dollar range. Of course there will be some exceptions to this with highly desired lots, neighborhoods, or views, but overall this is the current market trend. If you'd like to check out more details about the lisitings available, please see our Fullerton CA Homes For Sale page.