September/October 2018
THE GREAT PACIFIC AIR SHOW
Above, the U.S. Navy Blue Angels fly over my office at PCH & 18th Street on Sept. 28, 2017. This year, the Great Pacific Air Show is sure to draw hundreds of thousands of spectators again to Huntington Beach on land & by sea. The U.S. Air Force Thunderbirds will perform, so mark your calendar: October 19, 20, 21, 2018. For details & tickets go to: PacificAirShow.com
Scot Campbell Over 1,000 Homes Brokered Over a 32+ Year Career.
714-336-0394 www.ScotCampbell.com Scot.Campbell@ColdwellBanker.com CAL BRE 00943759
th
Coldwell Banker - Campbell Realtors 8 Annual
Pumpkin Patch Festival www.HBPumpkinPatch.com
Saturday, October 13, 2018 10am to 3pm Coldwell Banker Office 1720 Pacific Coast Hwy, HB
FREE Pumpkin for Every Child
*while supplies last
Carnival Games, Prizes, Face Painting, Photo Booth and More! Proceeds go to the Huntington Beach Police and Community Foundation For more information or to make a donation please email Kim@CampbellRealtors.com
Scot Campbell
Over 1,000 Homes Brokered Over a 32+ Year Career.
714-336-0394
www.ScotCampbell.com Scot.Campbell@ColdwellBanker.com CAL BRE 00943759
Huntington Beach Sales, Price Per Square Foot, & Average Price were up from August 2017
$1,088,624
By Huntington Beach Realtor - Scot Campbell HowsTheHBmarket.com 9/11/18 - Source: Realtor MLS
$662,520
Executive Summary:
After hitting a 2018 peak of 4.66% on May 24, mortgage rates have declined to 4.54% according to FreddieMac (September 6, 2018). All eyes are on the rates as they have increased 75 basis points (3/4 of a percent) since September 2017. Homebuyers are keen to find a home and purchase it before mortgage rates jump up anymore, and homeowners (ready to sell) are wise to put their home on the market before affordability is eroded by the higher rates. Homes that are priced close to market value are selling very fast… (especially those under $1 million and already remodeled). Homebuyers are motivated to complete home purchases before mortgage rates rise any further. There was a 15.7% jump in sales compared to last month, but year-over-year sales were down (-15.2%) most likely reflecting some buyers have been "payment priced" out of the market by the higher mortgage rates. Other indicators for the Huntington Beach Real Estate Market: Compared to last month, Price per square foot (+0.8%) and average sale price (1.7%) were up slightly.
A review of the August 2018 Residential Market shows: Homes Sold: In August 2018, the entire Huntington Beach market saw a total of 162 houses, townhomes, and condos sold… 96 detached properties sold and 66 attached homes sold. Average Days on Market until Under Contract: 34 days. Price per Square Foot: The August 2018 Average Price per Square Foot ($PSF) for the entire market was $506 (Detached homes $505 and Attached homes $509).
Buyers: Mortgage Rates have increased about 75 basis points since Sept 2017, but are still an attractive 4.54% according to FreddieMac (9/6/18). The rates are predicted to increase more in future making now a great time to purchase a home… You will save thousands over the life of the loan by locking in a lower mortgage rate. Inventory has increased, there are more homes to choose from now. Take Away: If you have been thinking of selling… it is a great time to go on the market. It is important to get your home sold while mortgage rates and inventory remain relatively low. If you have been thinking about buying, start shopping… Find-it and close-it before mortgage rates go up any more! If you have questions about the real estate market, buying, and selling real estate in Huntington Beach and Coastal Orange County, contact Scot Campbell… he can answer just about any real estate question you might want to ask.
Mobile Phone/Text: 714-336-0394 Email: Scot.Campbell@ColdwellBanker.com
506
34
Average Price: The average price of detached homes sold in August 2018 was $1,088,624 a decrease of 0.8% compared to August 2017. For attached homes the average price was $662,520 an increase of 7.5% from the same period last year.
Sellers: The real estate market in Huntington Beach performed well in comparison to last month. Higher mortgage rates and declining affordability have affected the market as we can see in the year-over-year numbers, but the market is still performing well by historical standards. It is likely that we have passed "peak cycle" for sales volume since higher mortgage rates are expected in the future (fewer people will be able to purchase driving sales volume down). Now maybe the best market we will see for selling your home in the next 24 months!
162
627 Frankfort Avenue, Downtown Huntington Beach Built in 2012, this Coastal Contemporary Beach Home has the look at quality of a home in Corona Del Mar. It is located on one of the most unique streets in the Downtown HB area‌ it has a city lights view from all three levels! More importantly, you will not find another house on the market like it, because the lot & house are both 5 feet wider than most other Downtown homes. Short stroll to the Beach, Pier, Parks, Schools, and the New Pacific City Development!
3 Bedrooms, 4.5 Baths + Bonus Area | 3,407 ASqFt | $1,785,000 ON THE MARKET Text H9241 to 85377 for Additional Info & Photographs
1206 Pine Street, Downtown Huntington Beach NEW CONSTRUCTION: Contemporary Barn House with gorgeous upgrades & finishes! This beautifully crafted luxury quality residence in the "Park Area" of Downtown Huntington Beach is being meticulously constructed by an artisan builder and is a one-of-a-kind opportunity to own with features & upgrades seldom seen. From the Zen Master Bath, to the underlit kitchen counters, to the amazing 4 car garage with soaring ceilings, and much more‌
4 Bedrooms plus Retreat , Office, 5 Baths | 4 Car Garage | 4,000 ASqFt | $3,250,000 Text H1486 to 85377 for Additional Info & Photographs
707 Hill Avenue, Downtown Huntington Beach
3531 Courtside Circle, Huntington Harbour
Do you love Downtown HB, but dislike the typical "tall & skinny" homes in the area? Here is a home which has the curb appeal & yard space you have been looking for‌ a uniquely designed & beautifully constructed coastal craftsman style home. The Park, Beach, Pacific City, Main Street Village, & Pier are just a short stroll away.
Coral Cay is Guard Gated & features some of the most gorgeous architecture in Coastal Orange County... most of the homes have undergone major remodels, and many are new from the ground-up. Amenities include: Private horseshoe shaped beach, tennis courts, marina, & short stroll to the uncrowded soft sands of Sunset Beach.
4 Bedrooms, 4 Baths | 2,563 ASqFt | Closed $1,200,000 Represented Seller | Sold Above List Price
Sold for Land Value | 8,257 SqFt Lot | Closed $3,700,000 Represented Seller | Multiple Offers
301 & 303 12th Street, Downtown Huntington Beach
16581 South Pacific Avenue, Sunset Beach
Custom Coastal Contemporary homes ideal for those who want to be "refreshed" everyday by a residence with clean lines & lots of natural light. These exquisite Open Concept floor plans have modern inspired architectural concepts, and were finished with wood siding, natural color cedar siding accents, & white smooth stucco.
New Construction: Custom contemporary oceanfront home "on the sand" with amazing, 180-degree white-water ocean, Catalina, & sunset views from all 3 levels. The en suite BR offer comfortable sleeping arrangements for up to 10, and there is elevator access to all 3 levels. The uncrowded sands of Sunset Beach make this the ideal quiet & secluded beach home!
3 Bedrooms, 3.5 Baths | 2,900 ASqFt | Closed $2,125,000 Each Record Price | Multiple Cash Offers | Closed 3/28/18
5 Bedrooms, 5.5 | Baths 4,100 ASqFt SOLD in 3 Days | Record Price | Closed $5,450,000
7492 Seabluff Drive, Huntington Beach ON MARKET
505 17th Street, Huntington Beach
Guard Gated "Resort Like" Pacific Ranch Community located just a few blocks from Pacific City, the beach, Seacliff Shopping Center, The Main Street Village & Pier. This airconditioned remodeled Almalfi Model enjoys a Quiet location in a beautiful Mediterranean style development with beautifully landscaped grounds, 3 swimming pools, clubhouse, & spa.
This Fox Development home built in 1977 is perfect for relaxed "beach-close living". It is located just a few blocks to the sand, surf, doggie beach, and beautiful Seacliff Country Club (Golf & Tennis)! The schools are just a short stroll (Smith, Dwyer, & HBHS) as is the City Gym which offers activities and exercise classes.
2 BD + Bonus Rm, 2.5 BA | 1,993 SqFt | 2 Car Gar | $753,000 Text H1485 to 85377 for Additional Info & Photographs
3 Bedrooms, 3 Baths | 1,820 ASqFt | Closed $1,050,000 Represented Seller | Multiple Offers
16302 Walrus Lane, Huntington Harbour
16291 Countess #105, Huntington Harbour
This expanded off-water Trinidad Island home "has all the features": Premium Main Channel Boat Dock, Pool/Spa, Quiet interior tract location, 3 Car Garage, and a fantastic floorplan… just needs a new owner to add their own touches. The dock for this home is only ½ block away and will hold a boat over 40 feet!
Premium single level residence at Portofino Cove with 180 degree main channel sunset view, 50 foot boat slip, full wrap around balcony… All rooms have a view of the harbour, and it has been completely remodeled: Gourmet kitchen with WOLF range, stainless appliances, wine fridge, stone counters, & custom cabinets.
4 Bedrooms, 3 Baths | 3,363 ASqFt | $1,475,000 | PENDING Text H9240 to 85377 for Additional Info & Photographs
2 Bedrooms, 2 Baths | 1,243 ASqFt | Closed $1,100,000 Represented Seller | Full Price, Multiple Cash Offers
16691 Edgewater Lane, Huntington Harbour
17091 Courtney Lane, Huntington Harbour
Huntington Harbour has so much to offer. You can take your boat out fishing in the morning, do some paddle boarding or kayaking in the afternoon, and then finish the day off with a sunset cruise! If you are looking for a waterfront home (with boat dock for under $2 million) that you can "put your touches on"... this is it!
Welcome home to this lovingly maintained Mid-Century Single Story off water home on the Mainland in Huntington Harbour. Join the "Harbour Lifestyle", where you can go surfing, paddle boarding, boating, and fishing all in the same day... then take a sunset cruise in the evening! This home just needs updating!
3 Bedrooms 2.5 Baths | 2,397 ASqFt | $1,999,900 PENDING Text H9237 to 85377 for Additional Info & Photographs
3 Bedrooms, 2 Baths | 1,864 ASqFt | Closed $1,140,000 Represented Seller | Multiple Offers
3382 Venture Drive, Huntington Harbour
20042 Sand Dune Lane, Huntington Beach
Main Channel Trinidad Island waterfront home "on the walkway" with dock for 40+ foot boat. Play at the park & playgrounds, sunbath on the beach, shoot some hoops, stroll the walk-way, take out a paddle board/kayak, do a sunset Duffy cruise, sail the bay, or run over to Catalina Island in your yacht. This home offers a fantastic lifestyle!
Luxury 4,190 SqFt Spanish style home in the Guard Gated "Boardwalk" community just a short stroll from the beach! What will it be today? Walk the dog to "Doggie Beach", Go surfing, Ride a bike along the Oceanview Blufftop Path, Golf/Tennis at nearby Seacliff Country Club‌ or just stay take a swim & lounge at your beautiful pool/spa!
4 Bedrooms, 4.5 Baths | 4,768 SqFt | Closed $3,000,000 Represented Seller | Sold for top Dollar
4 Bedrooms, 4.5 Baths | 4,190 ASqFt | $2,250,000 | PENDING Text H1490 to 85377 for Additional Info & Photographs
MODEL MATCH 613 13th Street DT Huntington Beach
ON MARKET
416 12th Street, Downtown Huntington Beach
Under Construction! Custom Coastal Contemporary home ideal for an owner who wants to be "refreshed" everyday by a residence with clean lines & lots of natural light. The exquisite Open Concept floor plan has modern inspired architectural concepts, and is finished with wood siding, natural color cedar siding accents, and white smooth stucco.
This home has one of the best overall locations… it is a short stroll to the beach, Main Street Village, Schools, Farquhar & Lake Parks, New Pacific City Development, Doggie Beach, and more… this home is "right there in the middle" of it all! And, it is one of the very popular "John King" designed homes with an excellent floor plan!
3 Bedrooms, 3.5 Baths | 2,900 SqFt | $2,199,000 Text 1483 to 85377 for Additional Info & Photographs
3 Bedrooms, 3.5 Baths | 2,556 ASqFt | Closed $1,350,000 Represented Seller | Sold for 96.5% of List Price
606 9th Street, Downtown Huntington Beach
3294 Tempe Drive, Huntington Harbour ON MARKET
Arguably one of the most desirable homes available in the area. This is a Luxury Quality home built on an elevated lot in one of the best locations... close (but not too close) to the Pacific City, Beach, Pier, Downtown Village, Farquhar Park, Schools, & Doggie Beach. It is one of the finest homes on the numbered streets.
Remodeled resort style waterfront townhouse in the gated Sea Bridge community which offers HOA tennis courts & beautiful pool/spa! With the bi-fold windows in the living room open to the patio, this home offers gorgeous views of the water. The waterfront patio has a gangway to the 30 foot boat slip directly behind the home…
3 Bdrms + Bonus, 3.5 Ba | 2,909 ASqFt | $1,650,000 PENDING Text H1481to 85377 for Additional Info & Photographs
2 BR + Office, 2.5 BA | 2 Car Gar | 1,658 SqFt | $1,275,000 Text H93260 to 85377 for Additional Info and Photographs
Neighborhood Update: LEASED in the last 180 days (Ended 9/11/18) Huntington Harbour ~ Seacliff & Edwards Hill ~ Downtown Huntington Beach (Data per Realtor MLS. It is not intention to imply that our office acted as agent for Landlord or Tenant)
Address
BDRM BA SqFt
215 Wichita 2323 Hun ngton 1008 Deleware 307 15th 158 Adams 1200 pacific coast 1200 Pacific Coast 7624 Sandstone 7671 Bay 215 Oswego 2323 Hun ngton 420 Lake 207 Indianapolis 420 LAKE 322 3rd 1200 Pacific Coast Hwy 515 Ariana 1400 Pacific Coast 7218 Seaworthy 1815 Alsuna 1318 Applecross 1413 Arch 318 8th 7882 Waterfall 420 Lake 1919 Delaware 711 Pacific Coast 817 Delaware 1833 Park 606 Lake 711 Pacific Coast 1327 Applecross 628 Har ord 200 Pacific Coast 1327 Applecross 1020 Delaware 603 8th 200 Pacific Coast 20916 Coastview 704 Lake 620 Har ord 7885 Moonmist 7931 Moonmist 7745 Seabreeze 1142 Summerview 1142 Shorecrest 388 5th 21354 Cieza 200 Pacific Coast 200 Pacific Coast 706 Delaware 21366 Estepa 624 20th 1852 Main 1141 Shorecrest 202 18th
1 1 2 2 2 1 1 2 2 3 2 2 2 2 1 1 3 2 2 3 3 3 2 2 2 3 1 2 3 3 2 3 3 2 3 3 3 2 3 3 3 3 3 3 3 3 2 2 2 2 3 2 3 4 3 3
1 1 1 2 2 1 1 1 1 2 2 2 2 2 1 1 2 2 2 2 3 2 1 3 2 3 2 1 2 3 2 3 1 2 3 3 2 2 3 3 2 3 3 3 3 3 3 3 2 3 2 3 3 3 3 3
552 552 1,000 1,056 1,000 781 781 1,000 1,000 1,200 973 1,062 1,943 1,023 600 781 1,349 1,100 1,230 1,350 1,588 1,733 900 1,430 1,118 2,084 750 702 2,000 1,384 968 1,859 1,009 1,257 1,859 2,200 1,042 1,181 1,525 1,337 1,334 1,464 1,464 1,751 2,043 1,795 2,000 1,843 1,226 1,233 2,200 1,843 1,820 2,070 2,043 1,900
Rent
Area
$1,600 Downtown $1,700 Downtown $1,850 Downtown $2,095 Downtown $2,100 Downtown $2,100 Downtown $2,150 Downtown $2,250 Downtown $2,295 Downtown $2,400 Downtown $2,495 Downtown $2,500 Downtown $2,550 Downtown $2,550 Downtown $2,760 Downtown $2,800 Downtown $2,850 Downtown $2,900 Downtown $2,925 Downtown $2,995 Downtown $3,000 Downtown $3,000 Downtown $3,000 Downtown $3,000 Downtown $3,000 Downtown $3,100 Downtown $3,100 Downtown $3,150 Downtown $3,200 Downtown $3,200 Downtown $3,200 Downtown $3,250 Downtown $3,250 Downtown $3,250 Downtown $3,300 Downtown $3,300 Downtown $3,300 Downtown $3,300 Downtown $3,300 Downtown $3,500 Downtown $3,500 Downtown $3,500 Downtown $3,500 Downtown $3,600 Downtown $3,700 Downtown $3,700 Downtown $3,700 Downtown $3,750 Downtown $3,795 Downtown $3,795 Downtown $3,850 Downtown $3,900 Downtown $3,900 Downtown $3,950 Downtown $3,950 Downtown $3,950 Downtown
Address 414 8th 1118 Lake 224 10th 614 19th 527 9th 519 16th 401 Lake 240 2ND 1001 England 1516 Pacific Coast 627 Lake 210 13th 1900 Pacific Coast 1900 Pacific Coast 21320 Veleta 711 11th 711 Pacific Coast 216 22nd 200 Pacific Coast 226 11th 1207 Delaware 831 Frankfort 115 10th 501 21st 19737 Shorecliff 526 12th 900 Pacific Coast 304 18th 528 21st 514 15th 21255 LORCA 517 13th 211 7th 1931 Pine 305 22nd 424 9th 124 9th 122 9th 19777 Shorecliff 213 Bal more 503 16th 214 9th 900 Pacific Coast 21270 Lorca 16989 Bluewater 17032 Bluewater 16526 Bordeaux 4126 Delphi 16092 Fame 16547 Tropez 16347 Grenoble 16016 Mariner 4165 Warner 3662 Pirate 3310 Tempe 16291 Countess
BDRM BA SqFt 3 3 3 3 3 3 2 3 3 2 3 3 3 3 2 3 3 3 2 4 3 3 3 3 4 4 2 3 3 3 4 3 3 3 3 3 3 3 4 3 3 3 2 4 1 1 2 3 2 3 2 2 2 3 2 2
4 2 3 3 4 3 2 3 3 3 3 3 3 3 3 2 2 3 3 3 4 4 3 4 3 4 2 4 4 5 4 6 4 3 4 5 4 5 4 5 4 4 2 4 1 1 2 3 3 3 2 2 2 3 3 2
2,000 1,753 2,042 2,100 2,600 1,710 1,440 2,100 2,214 1,390 2,004 2,300 1,778 1,778 2,670 1,810 1,452 2,190 1,233 2,250 3,061 2,997 2,428 2,369 2,260 2,776 1,143 2,961 2,408 2,755 2,961 2,875 2,234 2,969 2,765 2,951 2,750 2,650 3,399 2,894 3,017 2,850 1,143 3,387 1,000 779 1,146 1,913 1,690 1,740 1,348 1,293 1,467 2,090 1,658 1,129
Rent
Area
$3,950 Downtown $3,995 Downtown $3,995 Downtown $4,000 Downtown $4,000 Downtown $4,100 Downtown $4,100 Downtown $4,195 Downtown $4,200 Downtown $4,200 Downtown $4,200 Downtown $4,200 Downtown $4,250 Downtown $4,250 Downtown $4,300 Downtown $4,395 Downtown $4,395 Downtown $4,400 Downtown $4,695 Downtown $4,700 Downtown $4,800 Downtown $4,800 Downtown $4,800 Downtown $4,900 Downtown $5,000 Downtown $5,000 Downtown $5,000 Downtown $5,100 Downtown $5,150 Downtown $5,300 Downtown $5,300 Downtown $5,300 Downtown $5,300 Downtown $5,400 Downtown $5,500 Downtown $5,500 Downtown $5,500 Downtown $5,500 Downtown $5,500 Downtown $5,550 Downtown $5,850 Downtown $5,890 Downtown $6,000 Downtown $6,000 Downtown $2,300 Harbour $2,500 Harbour $3,000 Harbour $3,300 Harbour $3,300 Harbour $3,395 Harbour $3,500 Harbour $3,600 Harbour $3,750 Harbour $3,900 Harbour $4,000 Harbour $4,000 Harbour
Address
BDRM BA SqFt
4172 Calhoun 3526 Bravata 16455 Wimbledon 16391 Forest Hills 16661 Wellington 17134 Bluewater 16118 Bonaire 16626 Tiburon 16225 Whitecap 16801 SEA WITCH 16752 Intrepid 16166 Tortola 4012 Ondine 3989 Mistral 3262 FALKLAND 4012 Morning Star 3281 Bounty 19342 Peachtree 19228 Seabrook 6721 Country 6244 Seabourne 19231 Seabrook 6191 Fernwood 19281 Champion 6281 Pacific Pointe 19411 Surfset 6262 Seabourne 6240 Seabourne 20181 Mys c 19330 Wingedfoot 19412 Merion 19731 Quiet Bay 19296 Torreypines 19237 Meadowood 226 Goldenwest 6632 Cedarwood 6862 Hitchingpost 19199 Chandon 6535 Oakhurst 19645 Woodlands 6276 Morningside 6467 Frampton 6162 Morningside 6682 Beachview 6692 Gate Hill 6463 Se ng Sun 6126 EAGLECREST 17112 Pacific Coast Highway 17042 Pacific Coast 16773 South Pacific 16767 Bayview 16706 Bayview 16511 Pacific 78 B Surfside 21 C Pacific 13 C Pacific
4 3 3 3 4 1 3 3 4 5 3 3 3 5 3 4 6 2 3 4 3 3 4 3 3 2 3 3 3 2 3 4 3 4 3 4 4 4 5 3 5 4 5 3 5 4 3 1 1 2 4 5 3 2 1 2
3 3 3 3 3 1 3 3 4 4 3 3 4 5 2 4 6 3 3 2 3 3 3 3 3 3 3 3 3 3 3 2 3 3 3 3 3 4 3 3 5 5 4 3 6 5 3 1 1 2 2 4 2 1 1 2
Rent Area
2,600 $4,250 Harbour 1,826 $4,300 Harbour 2,320 $4,500 Harbour 2,260 $4,975 Harbour 2,564 $5,000 Harbour 836 $5,000 Harbour 1,818 $5,250 Harbour 2,210 $5,300 Harbour 3,920 $5,495 Harbour 3,448 $5,800 Harbour 2,117 $5,899 Harbour 2,362 $5,995 Harbour 2,305 $7,000 Harbour 4,000 $7,500 Harbour 1,761 $7,900 Harbour 3,313 $8,500 Harbour 5,880 $11,000 Harbour 2,029 $3,200 Seacliff/EdH 2,065 $3,695 Seacliff/EdH 1,976 $3,800 Seacliff/EdH 2,160 $3,850 Seacliff/EdH 2,065 $3,900 Seacliff/EdH 2,320 $3,900 Seacliff/EdH 2,298 $3,950 Seacliff/EdH 2,160 $3,950 Seacliff/EdH 2,030 $3,995 Seacliff/EdH 2,160 $4,000 Seacliff/EdH 2,160 $4,100 Seacliff/EdH 2,258 $4,200 Seacliff/EdH 2,298 $4,300 Seacliff/EdH 2,236 $4,400 Seacliff/EdH 2,011 $4,500 Seacliff/EdH 2,236 $4,500 Seacliff/EdH 2,298 $4,500 Seacliff/EdH 2,274 $4,900 Seacliff/EdH 3,000 $4,950 Seacliff/EdH 2,739 $5,000 Seacliff/EdH 3,000 $5,100 Seacliff/EdH 3,406 $5,750 Seacliff/EdH 2,639 $5,900 Seacliff/EdH 3,313 $6,000 Seacliff/EdH 3,640 $6,000 Seacliff/EdH 3,269 $6,500 Seacliff/EdH 2,788 $6,600 Seacliff/EdH 4,300 $7,300 Seacliff/EdH 3,937 $7,300 Seacliff/EdH 2,476 $7,500 Seacliff/EdH 478 $1,750 Sunset Beach 652 $3,750 Sunset Beach 1,600 $4,200 Sunset Beach 1,926 $4,200 Sunset Beach 2,295 $4,500 Sunset Beach 2,020 $5,100 Sunset Beach 590 $2,600 Surfside 520 $2,600 Surfside 1,080 $3,600 Surfside
If you would like help Leasing your property, my team will find you a good tenant at top rental value!
Scot Campbell
Over 1,000 Homes Brokered Over a 31+ Year Career.
714-336-0394
www.ScotCampbell.com Scot.Campbell@ColdwellBanker.com CAL BRE 00943759
In Orange County, Home sellers are not accustomed to waiting for offers, but it is a trend that has evolved this year. By Scot Campbell, Realtor 9/11/18 Source: ReportsOnHousing.org
For years, sellers have been in control of the housing market. Multiple offers were generated almost instantaneously after a home was listed. Homes flew off the market in the blink of an eye... That is until the spring of 2018. This year has been all about the evolution of Orange County housing from a brisk paced, hot, "Seller's Market" to a much more normal, "Balanced Market". An expected marketing time of 90-120 days is considered a Balanced Market for homes under $1.5 Million… as you can see from the below graphic, the price segments from $750,000 to $1.5 million are all in the 90-120 "range". Last year they were at or below the 90 day range. Expected Share of Housing Share of Current Market Time Inventory Demand
$0-$750k $750k-$1m $1m-$1.25m $1.25m-$1.5m $1.5m-$2m $2m-$4m $4m Plus
72 Days 90 Days 113 Days 124 Days 174 Days 257 Days 449 Days
41% 20% 8% 7% 8% 11% 5%
56% 22% 8% 5% 4% 4% 1%
Last Year
42 Days 56 Days 93 Days 90 Days 171 Days 198 Days 460 Days
In a hot seller's market, homeowners get away with stretching their asking prices, offering homes in "as-is" (very poor) condition, and hiring inexperienced agents/discount brokerages (that do little more than upload the property into the Realtor MLS). Everything sells in a hot market! But, not everyone remembers what to do in a normal Balanced Market: There is no room for error in pricing, home preparation, or Realtor selection. The home must be priced well, the home must be well prepared for the market, and it is important to select an excellent Realtor who knows the market and will aggressively promote the home & neighborhood amenities. Sellers who choose not do these things will see their homes "sit" in a Balanced Market. Orange County homes will continue to sell in today's Balanced Market, but "on average" it will take longer to sell most homes. Although we are no longer seeing "panic buying" like we did in the past, the demand remains intact, the economy is growing, and mortgage rates are still historically low. Like many things, the Orange County housing market has evolved this year, and sellers need to adjust their strategy to find the same success (that came a bit easier in the hot seller's market). Coastal markets like Huntington Beach are out performing the inland markets, and single family homes priced under $1 million remain a very hot commodity in coastal towns.
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Instant Home Value Reports Now Available at www.HBhomeValue.INFO
After hearing many complaints about “Zillow Zestimates” (and similar products), I decided to find a home value system that offers more accurate and useful information for my friends, family, & clients. Now this information is available instantly by going to www.HBhomeValue.INFO. Just go to the website and enter your address. The Realtor MLS system will instantly send you details for all the Active, Pending, and Recent Closed Sales in your neighborhood. By looking over these relevant properties and comparing them to your home, I believe you will get a much better “value picture” than a “Zestimate” offers.
Scot Campbell
Over 1,000 Homes Brokered Over a 31+ Year Career.
714-336-0394 www.ScotCampbell.com Scot.Campbell@ColdwellBanker.com CAL BRE 00943759
© 2018 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office Is Independently Owned And Operated Except Offices Owned And Operated By NRT Incorporated.