Huntington Beach Realty Digest March 2023

Beautiful view of Humboldt Island & partial views of the Huntington Harbour Mainland, Trinidad Island, & Davenport Island. Coral Cay & Gilbert Island are in the distance.

I presently have multiple homeowners on the Mainland, Humboldt Island, Trinidad Island and other areas of Huntington Beach who are having thoughts of selling in the near future. So, if you are looking to purchase a home in Huntington Harbour or Huntington Beach, contact me!

h om E S E ll E r S : I have heard it said many times by homeowners… “I do not want to put my home on the market, but if you have a buyer for my house bring them over for a look”.

If you are entertaining thoughts of selling your home but do not want to be on the market, please reach out to me because I might already be working with your buyer!

h om E B uy E r S : The inventory of homes for sale is very low. Searching Zillow for the 10th time today is not going to make a difference in finding a home.

If you are looking to buy a place, please reach out to me because I may already know someone that wants to sell the property you want to buy!

How’s the Huntington Beach Market?

Remarkably, the Days of Supply reading of just 40 on March 16, 2023 indicates conditions have moved from a “Balanced Market” a few weeks ago to a “Seller’s Market” presently. The normal seasonal rise in the demand for homes coupled with a very low inventory of Homes For Sale have made conditions favorable for sellers again.

Despite higher mortgage rates, sellers have an opportunity to sell for top dollar right now.

16462 Malden Circle located on “Gilbert Island” in Huntington Harbour is available for lease: Gorgeous 5 BR + Office | 5 BA | 6,950 Asqft | 2 Main Channel Docks Mostly Furnished. For 3D Tour & Details: www.16462malden.com | $45,000 per Month

The “Best in the Industry” imagery for your home.

• Professional Photographer with years of experience

• High Dynamic Range Enhancement for all Still Photos

• Dramatic Aerials captured with 4K drone camera

• Lifelike Walk-Thru 3D Tour with “Live” option

• Detailed 2D Floorplan Drawing to illustrate the layout of the home

• YouTube Video with an assortment of “moving still” photographs

Many of the prospective purchasers in today’s market live out-of-area or frequently travel. Other buyers are very busy in their day-to-day even though they live nearby… regardlessall buyers appreciate convenience. There is no better way to entice a buyer to purchase your home than to list with Scot Campbell.

Orange County Housing Market Seeing Multiple Offers Again

By Scot Campbell | 714-336-0394 | Scot@CampbellRealtors.com | Source: Reports on Housing | March 20, 2023

SUMMARY: Market Times have dropped like a rock since the start of the year, squeezed by not enough sellers. The lack of available homes to purchase has resulted in buyers competing against each other to buy despite low demand.

According to the Freddie Mac House Price Index, as of January, the Los Angeles/Orange County region has seen the price level drop 8% since May 2022 and it was down 2% year-over-year.

After hearing about softening home prices in OrangCounty due to high mortgage rates, many buyers expected the housing market to be slow as they started looking at homes in February. They thought they would be able to take their time and not compete in purchasing a home. Instead, (especially in the under $1.5 million price segments) they are experiencing lines of buyers at open houses. They are seeing multiple offers on the homes which are priced right and in reasonably good condition.

We are no longer in the crazy “panic buy market” of 2021 & early 2022. However, home buyers trying to take advantage of the more attractive pricing are learning that the low inventory is making it more difficult than they anticipated. The savvy buyers are working with realtors who:

1) Have connections with possible home sellers.

2) Who target prospective home sellers using mailers and direct contact.

However, the market has evolved since January 2023. The supply of available homes has been dropping while buyer demand has been rising. The inventory of available homes declined from 2,530 in January to 2,168 today, a drop of 14%. On the other hand, demand has grown from 900 pending sales in January to 1,567 today. The difference between supply and demand has diminished from 1,630 in January to 601 today, its smallest difference since May last year.

The Days of Supply dropped from 84 days in January to 42 days today, its lowest level since May 2022 (A reading below 50 days is a “Seller’s Market”).

It appears Spring & Summer 2023 will be a remarkably good time to sell a well maintained Orange County home which is priced reasonably. Look for more homes to get listed as we move into the Spring & Summer selling season.

Motivated buyers are well advised to get pre-qualified and be ready to pounce on a home that meets their needs.

If you have had thoughts of selling, reach out to me… I may already be working with a motivated pre-qualified buyer who wants to purchase your home!

Scot Campbell Licensed Broker (714) 336-0394

DRE# 00943759

SCOT CAMPBELL IS THE REALTOR FAVORED BY YOUR FRIENDS & NEIGHBORS

He has brokered 1,000s of homes... including just about every type of transaction imaginable during his 30+ year career.

SOLD IN HUNTINGTON BEACH: Want to see all the SInglE Fam Ily hom ES and c ondo S & townhomES that have sold in the last 30 days according to the Realtor MLS. Go to: ScotCampbell.com hover over the “Sold in HB” menu, then“click”.