Tustin Market Update – May 2018

Being up to date with past and current residential prices can help you decide when the best time to buy is. To help guide you through the Tustin mortgage process, our team at American Financial Network has provided a market update for the Tustin, Fullerton, and Placentia area.

Tustin Market
According to Realtor.com, the median listing price in Tustin has gradually increased over the past three years. In May 2015, the median listing price was $615,000. By the following year, the median price had increased 5.7% and was listed at $650,000. The price in May 2017 was $700,000, which is a 7.7% increase from 2016. The current median listing price for Tustin is $735,000, which is an increase of 5% from the previous year, and about a 20% increase from 2015.

The median price per square foot has mirrored similar trends as the listing price. In 2015, the median price per square foot was $361 and the 2016 square footage price was $371. By 2017, the price per square foot rose to $388, and the current 2018 price is $409 per square foot. This increase in square footage price suggests that the Tustin real estate is becoming more valuable.

If you are in the market for a mortgage, contact your Tustin loan officer today before the rates continue to increase.

Fullerton and Placentia Market
The median listing price for Fullerton is currently $680,000, which is a 5.4% increase from the 2017 price of $645,000, and an overall 15.5% increase from the past three years. The current price per square foot is $392, which is a 16.7% increase from May 2015.

For Placentia, the median listing price was $599,000 in May 2015 and rose 8.5% the following year to $650,000. By May 2017, the median listing price was $669,000, which is a 2.9% increase from the 2016 price. The current median listing price is $698,000, which is an increase of 4.15% from the year prior, and a 16.5% increase from the past three years.

Contact Us
For more information on the housing market in the Tustin, Fullerton, and Placentia area, please contact your local Tustin mortgage lender. Our team at American Financial Network Inc. would love to work with you and help finance your dream home. So don’t wait, call our offices today at 714-241-2326 or 714-488-0227 to get started.

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