The Old and the New in Santa Ana: A Market Check

The old and the new…

In the city that often makes headlines with its number of distressed properties, number of foreclosures, and heart-wrenching personal stories of real estate mishaps, is there any good news to report? Well, let’s take a look at the market and see what we can come up with.

Per Altos Research, we see the current median price for a single family home in Santa Ana is $553,000 (down from $574,000 a month ago). There are 1,176 homes on the market (down from 1,182) and the average number of days on the market is 100 days. Inventory is holding about steady because there’s just really not much happening, not many buying, not many putting their homes on the market, and some taking their homes off the market and giving up.

The market action index is at 17.10 (down from 17.31 a month ago). Anything below 30 means it is a buyer’s market and the supply is exceeding the demand. Santa Ana’s market is becoming increasingly more a buyer’s market.

Are you a visual person? Here are some graphs to show the continuing bad news.

Median Price Market Action Index Inventory

Since homes are sitting on the market awhile, there are some true veterans with days on the market numbers that will blow your mind (see below). On the flip side, there are the newbies that have just listed their house. The old and the new… the old houses on the market, the new houses on the market, the old stats, the new stats… but always one story: a housing market crisis.

“Veterans”

821 South Garnsey St, Santa Ana 92701; 3 bed/1 bath house; 1,130 sq ft; $394,500; 369 days on the market

1903 East 19th St #4, Santa Ana 92705; 2 bed/2 bath condo; 1,257 sq ft; $485,000; 495 days on the market

1501 North Freeman St, Santa Ana 92706; 3 bed/2 bath house; 2,000 sq ft; $649,500; 533 days on the market

“Newbies”

611 West 1st St, Santa Ana 92701; 2 bed/2 bath condo; 954 sq ft; $250,000; 1 day on the market

1314 West Raymar St, Santa Ana 92703; 3 bed/1 bath house; 1,011 sq ft; $469,900; 1 day on the market

1009 South Arapaho Dr, Santa Ana 92704; 4 bed/2 bath house; 1,416 sq ft; $570,000; 1 day on the market