Condos and Short sales Dominate Aliso Viejo Real Estate

The Aliso Viejo real estate market is dominated by condo sales and short sales. Over the past 90 days ending January 31, 2012 there were 163 Aliso Viejo homes sold as compared to 166 sales last year, of these sales 119 or 73% were condos and 62 or 38% were short sales. The average price over this time for a Aliso Viejo home was $391,501, this is down 5.05% from the same period one year earlier. The price for square foot, the best measuring stick of the market was $240.99 per sq ft compared with $260.12 per square foot from the prior year, this is a decline of 7.35% year over year.

While short sales accounted for 38% of the sales in the past 90 days, they make up a much higher percentage of the active ALiso Viejo Homes for sale. There are currently 163 Aliso Viejo active in the local MLS, however when pending, back up status are included the real number of Aliso Viejo homes for sale is 369. This second number includes pending sales and those accepting back up offers, this is a better number as it includes those properties which are short sales which are currently negotiation with the bank for short sale approval. Of the total of 369 homes for sale in Aliso Viejo, 222 or 60.2% are short sales. The 369 listings represent 5 months of Aliso Viejo inventory at the current sales pace.