Santa Ana: Real Estate Market Report

I know it’s scary, hold my hand… we’ll get through this market update for Santa Ana together.

Santa Ana has become notorious for sub-prime lending debacles, flippers gone awry, and good old poor market conditions. The last check I did on the status of Santa Ana’s market was January 15th. Where does over two months later put us? Let’s find out…

The current median home price in Santa Ana is $498,278. This is down 10% from January and down 13% from December. As for inventory, not much has changed. There are 1,154 homes on the market, which is 2% less than January (22 less homes). The same is pretty much true for the average number of days on the market homes are. They’re currently at 107 days on the market, up 7% (7 days).

The market action index continues to fall to a new low of 16.51. This is a 3.5% drop from January and 4.6% drop from December. A market action index below 30 means it’s a buyers market… pretty soon sellers will be paying buyers to take their properties.

Data and graphs courtesy Altos Research.

And, my favorite… looking at the opposite ends of the spectrum in the market. Below are properties that have just been listed and properties that have not (and not for awhile!).

Properites Just Listed

3018 West Mark St, Santa Ana 92704; 4 bed/2 bath house; 1,459 sq ft; $465,000

318 East Wisteria Pl, Santa Ana 92701; 2 bed/1 bath house; 897 sq ft; $300,000

1018 North Cabrillo Park Dr #H, Santa Ana 92701; 2 bed/2 bath condo; 1,007 sq ft; $239,000

Properties That Have “Been Around”

1622 West Cubbon St, Santa Ana 92703; 3 bed/2 bath house; 1,147 sq ft; $560,000 (down from $570,000); 360 days on the market

521 South Lyon St #115, Santa Ana 92701; 2 bed/1.5 bath condo; 980 sq ft; $190,000 (down from $360,000); 371 days on the market

112 East Pine St, Santa Ana 92701; 2 bed/2 bath house; 757 sq ft; $399,000 (down from $474,000); 384 days on the market