Staggering Low Inventory
Here’s your Costa Mesa- Mesa Verde Real Estate report, summarizing all of the April real estate action in Mesa Verde.
Inventory- Unbelievably low, with only 12 “Active” properties
Under Contract- 22 Homes in escrow currently (“Backup offers/Pending Sales”)
On Hold- 2 properties on “Hold” status
Interesting Notes: Inventory is at it’s lowest level in the last fifteen years, without question. Right now in Costa Mesa- Mesa Verde Real Estate, there are only two homes listed for sale under $948,000, which is frightening considering the majority of the Mesa Verde neighborhoods would sell in the $850k and less range.
Above the $948,000 mark, there has been a bit of a glut of inventory. 10 homes are on the market above that mark, of which 8 have been on the market more than 43 days each (cumulative days on market). Which is a lot considering what a small batch of homes are for sale.
What does that tell us about the Costa Mesa- Mesa Verde Real Estate market? There are lots of buyers for the properties under $850,000, but a smaller or pickier bunch of buyers waiting or looking for just the right home in the million dollar price range.
The chart above shows last month’s activity. One of the interesting notes from the graph is that prices might be leveling off. However, with lack of inventory supply and sellers getting close to 100% or more of asking price, values could hold firm for quite some time.
Thinking of selling, or wondering what your Mesa Verde home is worth? For a free analysis, connect with agent Colin Delaney at 714-743-9882 or email him.
*data courtesy of the CRMLS and is accurate as of 5/19/15 12:00pm, and might not reflect all of the real estate activity in the marketplace in Costa Mesa- Mesa Verde Real Estate
Here’s the current listings in the Mesa Verde market below:
[idx-listings community=”Mesa Verde” statuses=”1,2″ orderby=”Price” orderdir=”ASC” count=”50″ showlargerphotos=”true”]