Fullerton real estate market

Fullerton Station
Image by LA Wad via Flickr

A large city in northern Orange County in Southern California, Fullerton is home to a population of more than 125,000 and is just minutes from the shores of the Pacific Ocean. It has a relatively high measure of median household income, which stood at $75,700 in 2005. Like so many markets across the nation, especially those in Southern California, the Fullerton real estate market has seen its home prices fall from record highs recorded before the beginnings of what eventually became a full-blown recession in the U.S.

The year 2009 continued to be a year of struggles for the real estate in Fullerton, with each of its four zip codes seeing annual median prices fall year-over-year. However, because prices kept falling, many more buyers were able to jump into the market and purchase lower-priced Fullerton homes for sale, and as a result, each of the city’s four zip codes saw increases year-over-year in sales volume.

According to the Orange County Register‘s yearly data chart, prices in Fullerton for 2009 ranged from $296,000, a fall of 23%, in one zip code, to $536,000, an 8% decline, in the highest-priced zip code. The four zip codes saw sales volume of 268, 155, 588 and 232, respectively, increases of 30%, 5%, 30% and 13%.

Monthly statistics for 2010 show that the market in Fullerton seems to be showing some signs of improvement. March statistics show that median prices were up in three of the city’s four zip codes, with one up by more than 21% year-over-year. The median prices for March ranged from $478,000 (in the one market that saw a decline, which was 28%) to $315,000 (a 7% increase). Sales volume continued to be higher than last year in all markets, with 110 homes sold for the month. Sales by zip code was up from 8% to as much as 40% in one market, suggesting that the Fullerton market may have hit its bottom in 2009 and may begin to level out now this year.

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