Posted by Scot Campbell July 6, 2011 – Source SoCal MLS
Mid-Year Market Update – 2011
Homes are selling in SeaCliff, Edwards Hill, Boardwalk, Seacliff – Seagate, and Ocean Colony. In fact, these neighborhoods appear to be outselling many of the other luxury areas of Huntington Beach!
According to SoCal MLS records, the first six months of the year saw 34 closed sales with an average sale price of $1,354,832, average price per square foot of $430.31, and an average of 104 days on market (for sold listings), average square footage of homes sold was 3,200.
Compared to the same period in 2010, the sales volume is down 2.8%, the average sales price is down 1.67%, but the average price per square foot is Up 5.9%. The average square footage of a home sold in 2010 was 3,403.
The results are mixed, but the sales volume and average sale price are very similar to last year. Do these results signal an end to downward trending prices in 2011? I believe it depends on how many people decide to jump in and buy while interest rates are low. Long term improvement in the market depends on job growth and easing of credit by the banks. Stay tuned to the RealtyDigestBlog for further updates.
Scot Campbell 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. On his website you can search for homes and obtain an instant home value report: www.RealtyDigestOnline.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