Huntington Beach Condo & Townhome Market Update January 31, 2012
By Scot Campbell– February 6, 2012
Ground Hog Day is past and the unofficial beginning of the spring home buying season is upon us. So, will there be six more weeks of “housing market winter” or will spring be sprung early?
You will be pleasantly surprised to hear that the average price per square foot for condos & townhomes increased in the first 31 days of 2012 compared to 2011. It was not much of a jump… just 0.63% with the average price per square foot going from $279.75 to $281.52.
The number of Huntington Beach condos & townhomes closed sales in the first 31 days of 2012 was stable compared to 2011.
The average days on market increased from 123 to 129.
The average discount from original list price was just 8% compared to 10% in 2011.
So, 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 as mortgage interest rates offer an affordability window which lets buyers lock in a low payment and sellers find a ready, willing, and able buyer.
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