Happy New Year!
It’s the time to reminisce about the past year, make resolutions for the year to come and take advantage of the housing market in Huntington Beach. The new year is a great time to sum up the sales activity for the previous year and compare it to years in the past. So, let’s take a look at the 2017 Huntington Beach Real Estate market and, based on this data, give you an idea of what is to come.
In 2017, the average Sales Price has finally exceeded the peak year of 2007. Back in 2007, the average price of Huntington Beach homes sold was around $808,000. This average price fell after the real estate bust and recession that followed. The Average Price fell all of the way down to $570,000 in 2011. In the past few years, prices have made a come-back and have moved up to $800,000 in 2016. Last year, the Average Price exceeded the peak of 2007 when reaching $893,870. This is great news for our market here in Huntington Beach!
While our home’s prices are moving on up, the days that homes stay on the market are moving on down. At the peak in 2011, we saw the average Days on Market at 108. It fell to 61 days in two years and last year fell all the way down to 39 days! Wow.
So, how many homes were sold in Huntington Beach in 2017, you ask. 1,819 homes were sold in HB in 2017. Is that good…is that bad? Well, let me paint you a picture real quick. Back in 2008 when Sub-Prime Mortgages were cut off….total sales fell to 1,429. In 2012, sales rebounded to 2,026. For the past five years, sales volume in HB has stayed within 15% of the sales volume in 2012. So, even though the number of homes sold is down a bit from the previous year, we are still holding strong in Huntington and are forecasted to keep on moving up!
So, is it a buyer’s market or seller’s market, you ask. Well, because of the low inventory (current homes for sale on the market) and the many buyers out there (due to low mortgage interest rates), I would call this a seller’s market.
If you have a home to sell in Huntington Beach, and have considered selling…I would take advantage of the hot seller’s market. If priced right, you can expect your home to sell in a little over a month. Wow.
If you are considering buying a home in Huntington Beach….PLEASE take advantage of those low mortgage rates that are offered today. You have no idea how much even a slight increase in your rate can affect your payments.
If you want to know what your home is worth in today’s market, click here to receive a FREE Home Valuation Report. This way you can be informed as to what you could price your home at…and what you can expect to sell it for.
If you are looking to purchase in Huntington Beach, feel free to call/text/email me at any time. I live in Huntington Beach and I specialize in HB and the surrounding beach cities. I can set up a personalized search for you that will inform you of NEW listings AS SOON as they come on the market! Don’t you love technology?
Emily Benner - Realtor - Beach Cities Real Estate - 949-877-9856 - This email address is being protected from spambots. You need JavaScript enabled to view it.
- Source: Realtor MLS
