Brea, CA Real Estate in 2025

2025 is here. For me, the first few months of the year are a great time to reflect on the previous year, and ready myself for the year ahead. So, how was the Brea real estate market in 2024? Answer: it was hot, hot, HOT!

Let's start with a fact: Brea, along with the rest of Southern California, has very few homes available for purchase. And going into 2025, the available housing inventory is lower than ever:

For documented SFR sales records in CRMLS only. No condos. Data may not be statistically significant and are for informational purposes only.

Despite the low inventory, Brea homes in 2024 sold faster, and for more money, than ever before. In 2023, it took about 26 days for a house to sell; in 2024, it was 18 days. And check out those prices:

For documented SFR sales records in CRMLS only. No condos. Data may not be statistically significant and are for informational purposes only.

There's no question that it's still a seller's market, but it does look like some buyers are embracing the new economic reality and are getting off the sidelines, despite mortage rates still hovering around 7%. Many people now believe that we're never going back to 3% rates and pre-pandemic home prices, and we can see this in the stats. Buyers bought more in 2024 than in 2023, suggesting that some buyers are done waiting for things to change.

For documented SFR sales records in CRMLS only. No condos. Data may not be statistically significant and are for informational purposes only.

So, if you're a homeowner who's been thinking about selling, I'll tell you this: homes are at record-high prices, and all indicators point to there being more active and "hungry" buyers this year.

If you've been thinking about buying a property, I'll tell you this: competition is fierce, and doesn't look like it will let up anytime soon. Many buyers are understandably "checking out" and are sadly giving up on the prospect of homeownership entirely. For the rest, there are agents like myself who know how to help. For example, did you know about City National Bank's $50,000 grant (aka "free money") program? CNB is just one of many financial institutions that's been "hurt" by high interest rates - they simply aren't writing as many loans as they used to, which hurts their bottom line. So, many of them are getting smart and investing heavily in helping out buyers, because by helping buyers, they help themselves.

And when there's a will, there's a way. It all starts with contacting a trusted Realtor to help. I welcome your call or message anytime.

Sincerely,

Inna Peshkova

Realtor®

Call/Text 714-747-1174

Email inna@innaEstates.com