The Costa Mesa Market Report: Detached Homes Stats, July 2008


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A look at this month’s stats tells us that the housing market turnaround hasn’t arrived in Costa Mesa. All the indicators except the number of days on the market show a market that is even more in the buyers’ favor than it was last month. And don’t get too excited by the decrease in the number of day on the market. The paltry amount of the change in this number makes it insignificant.


Here are the 2008 detached home statistics for Costa Mesa, as provided by Altos Research:

  • Median Sales Price:

July 06, 2008: $682,521
June 08, 2008: $688,307
May 11, 2008: $690,275
April 20, 2008: $702,668
March 09, 2008: $716,286
February 03, 2008: $735,900
January 06, 2008: $748,007

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  • Price Per Square Foot:

July 06, 2008: $380
June 08, 2008: $384
May 11, 2008: $391
April 20, 2008: $403
March 09 2008: $415
February 03 2008: ~ $424
January 06, 2008: $430

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  • Market Action Index:

July 06, 2008: 15.87
June 08, 2008: 16.58
May 11, 2008: 15.96
April 20, 2008: 15.60
March 09, 2008: 16.04
February 03 2008: 15.91
January 06, 2008 16.03

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Note: The Market Action Index shows the balance between potential buyers and sellers, in other words,
the balance between supply and demand. Above 30 is a sellers’ market; below 30 is a buyers’ market.

  • Days on Market:

July 06, 2008: 94
June 08, 2008: 98
May 11, 2008: 108
April 20, 2008: 106
March 09, 2008: 105
February 03 2008: 93
January 06, 2008: 84

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  • Number of Homes on the Market (Inventory):

July 06, 2008: 305
June 08, 2008: 300
May 11, 2008: 301
April 20, 2008: 307
March 09, 2008: 304
February 03 2008: 315
January 06, 2008: 328

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Note: For more information on the Costa Mesa housing numbers, see tomorrow’s post “Reality Check: Costa Mesa Condo & Detached Home Stats, July 2008.”