It’s that time of year where the holiday season is in full swing, the temperature is dropping and festive home décor is available in every store. Buying a house this time of year means you can put up all the festive decorations in your new place and host the holidays with your loved ones.
So, to help you get started in the home purchasing process, your local Tustin mortgage lender, Matthew Campbell with American Financial Network, Inc., has listed the most current market update for the Tustin, Fullerton, and Placentia area.
Tustin Market Update
According to realtor.com, the residential market in Tustin has been fluctuating over the past three years. The median listing price for October 2015 was $617,000 and increased 10.2% the following year to $679,450. By October 2017, the median listing price jumped to $750,000, which is a 10.4% increase from the following year. The current median listing price for 2018 is $710,000, which is a 5.33% increase from the year prior.
With the current median listing price significantly lower than the previous year, now would be an excellent time to purchase a house and obtain a Tustin home loan. Talk with your local lender about locking in a rate now before they increase.
Fullerton & Placentia Market Update
The residential market in Fullerton has been consistently on the rise since 2015. Three years ago, the median listing price was $627,000 and increased just slightly by 0.46% to $629,888 the following year. By October 2017, the median listing price was $669,944 and the current median listing price for 2018 is $699,900. This price is a 4.47% increase from the previous year and is an 11.6% increase over the past three years.
The median listing price for the Placentia area has followed similar increasing trends as the Fullerton market. In October 2016, the median listing price for Placentia was $619,000 and rose 2.58% to $635,000 by October 2017. One year later the median listing price was $670,000 and the current median listing price for 2018 is $699,000.
Get Started Today
For more information on the market update for the Tustin, Fullerton, and Placentia area or if you are interested in getting started on your Tustin home loan application, please contact Matthew Campbell with American Financial Network, Inc. at 714-241-2326.