Huntington Beach Condo & Townhome Market Update February 29, 2012
By Scot Campbell– March 3, 2012
Opening Day for Little League in Huntington Beach has passed… our very own Oceanview Little League, winners of the 2011 Little League World Series are hopeful that they can repeat… and the spring home buying season is now upon us.
The number of Huntington Beachcondos & townhomes closed sales in the first 60 days of 2012 jumped up 44.74% compared to 2011. There were 55 sales this year compared to just 38 in 2011… Would we say the market is “on fire”, “much improved”, or “recovered”? Well, not so fast… the other numbers are mixed.
The average price per square foot for condos & townhomes decreased 8.16% during the first 60 days of 2012 compared to 2011. The average price per square foot dropped from $286.53 during the first 60 days of 2011 compared to $263.15 in 2012. Month-over-month, January 2012 was $281.52 compared to $263.15 in February 2012.
The average days on market increased from 127 to 151.
The average discount from original list price was 11% in 2012 compared to 89% in 2011.
Certainly the market appears to be improving… will this be the transition year for prices? It is too early to tell… but I will be reporting again in about 30 days.
This spring will be a very good time to buy and sell because low mortgage interest rates offer an affordability window which lets buyers lock in a low payment and sellers to find ready, willing, and able buyers (who may not be as abundant once interest rates increase).
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 21 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
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