Huntington Beach Housing Market – 2012 Year in Review

by Scot Campbell – Huntington Beach Realtor – 1/13/2013 – Source: Realtor MLS

Housing MarketFebruary 2012 has been identified by ReportsOnHousing as the “bottom of the market” for the Orange County housing market.  And, I have been reporting for months that the Huntington Beach market is improving.

Now that 2012 is behind us, we can take a look at the 2011 Vs. 2012 numbers and see if 2012 really was the “turn around” year for the Huntington Beach real estate market:

Huntington Beach Detached homes (2012 Vs. 2011):

Closed Sales:                  Up   25.33%

Price per square foot:     Up     1.19%

Average Sales Price:      Up     3.72%

Days on Market:             Down from 101 to 83

Huntington Beach Attached homes (2012 Vs. 2011): 

Closed Sales:                  Up     23.64%

Price per square foot:     Up      10.65%

Average Sales Price:      Up        7.39%

Days on Market:             Down from 111 to 95

Clearly, the market is much, much improved over 2011.  In every aspect of the market, things are better.  Closed Sales, Price per square foot, Average sale price are all up… while Days on market are down.

The market was still declining in much of 2011, so looking at all of 2011 Vs. 2012 tends to mask how much the market has improved since the absolute bottom.

Comparing the December 2011 Vs. December 2012 market statistics really illustrates the improvement in prices:

Huntington Beach Detached homes (2012 Vs. 2011):

Price per square foot:     Up     6.66%

Average Sales Price:      Up     13.77%

Huntington Beach Attached homes (2012 Vs. 2011): 

Price per square foot:     Up      17.72%

Average Sales Price:      Up       24.09%

So, when looking at just December 2011 Vs. December 2012, price per square foot and average sale price are way up.  It appears clear that the Huntington Beach real estate market also bottomed in late 2011 or early 2012.

Presently there are just 182 homes, townhomes, and condos on the market in Huntington Beach.  At the peak of the last seller’s market back in 2005, there were well over 300 homes on the market.  Many buyers are looking to take advantage of historic low interest rates, yet there are very few homes on the market.

This all adds up to wonderful news for home sellers… early 2013 is going to be one of the best times to sell a Huntington Beach home in years.

The inventory will increase as we move into the spring and summer, but for now Huntington Beach home sellers have a very good opportunity to sell quickly for top dollar… without doing as much to prepare their homes for the market.

For home buyers who have been waiting for the market to stabilize before buying, it appears that the time is here for you to buy… and it would be very good to make your purchase while interest rates are at historic lows!

It has become clear in recent months that more Huntington Beach homes would be selling IF there were more homes on the market.  Most buyers have seen everything currently on the market and are waiting for new listings.  If you are thinking about selling, contact Scot Campbell and tell him about your property and moving plans.  Scot may already be working with the perfect buyer for your home!

Scot Campbell will PAY for a pre-marketing apprasial for your home to make sure you list at the right price!

For questions about buying and selling real estate in Orange County, contact Scot Campbell.

He is the President of The Scot Campbell TEAM at Coldwell Banker-Campbell Realtors in Huntington Beach, CA.

He has been a licensed broker for over 22 years and has brokered over 1000 homes and just about every type of transaction imaginable.

Read his profile and client reviews at www.ScotCampbell.com

He can be reached at 714-960-0700 at the office, 714-336-0394 on his mobile number or via email at Scot.Campbell@ColdwellBanker.com

 

photo by: 401(K) 2012

Sorry, comments are closed for this post.