Realty Digest January 2021 by Scot Campbell

January 2022 / Circulation 19,500 Monthly

/ www.RealtyDigestOnline.com

Downtown HB | Seacliff | Edwards Hill | Huntington Harbour | Sunset Beach | Brightwater | Summerlane | Bolsa Landmark

SPECIAL JANUARY 2022 REALTY DIGEST ISSUE FEATURING: How’s the Huntington Beach Market according to December 2021 Home Sales?

2021 Market Recap… why the real estate market performed as it did during the year.

See the Imagery that SOLD a $6,995,000 Sunset Beach home “sight unseen” in December 2021.

SCOT CAMPBELL / COLDWELL BANKER-Campbell Realtors Global Luxury Specialist 714.336.0394 Mobile / scot@campbellrealtors.com / www.scotcampbell.com / DRE #00943759

Happiness is working with a Realtor who Knows the market like no one else!

My name is Scot Campbell, and I have been an active Realtor for over 30 years in Huntington Beach.

I have personally brokered over 3,500 homes. When you list with me it will be “you & I” working together… I will NOT delegate your file to a Junior Associate as is customary in the large “Groups/Teams”.

I have been living & loving the Huntington Beach Lifestyle since 1973, and I graduated from Smith, Dwyer, & HBHS. I attended college at nearby CSU Fullerton so I could be home on weekends. My Graduate Studies were in Real Estate Economics, and my bachelor’s degree is in Real Estate Finance. I know the Huntington Beach real estate market like no one else, and I come highly recommended: All 5-Star Reviews!

If you are having thoughts of selling your property, I will get you top dollar with a nice smooth escrow.

Sincerely, Scot Campbell SCOT CAMPBELL / COLDWELL BANKER-Campbell Realtors Global Luxury Specialist 714.336.0394 Mobile / scot@campbellrealtors.com / www.scotcampbell.com / DRE #00943759

How’s the Huntington Beach Market?

The “Days of Supply” is the best indicator of market conditions, and presently the reading is just 25 days indicating Strong Seller’s Market Conditions.

The below graph illustrates market conditions over the last eight years. The market reaction to the elimination of the mortgage interest deduction can be seen in Q4 2018 and Q1 2019. The immediate “CV-19 Shock” can be seen in April-May 2020, followed by the Strongest Seller’s Market Conditions ever seen persisting during all of 2021.

Now is a remarkably good time (the best ever seen) to sell a home in Huntington Beach.

To read my complete report on the Huntington Beach Real Estate Market go to: www.HowsTheHBmarket.com

For an Instant Home Value Report for your home go to: www.HBhomeValue.com

Just How Strong has the Huntington Beach Real Estate Market Been Following the Outbreak of CV-19?

It has been just over two years now since the World Health Organization first learned about a highly contagious “novel” virus in Wuhan, China which caused a lethal form of pneumonia. In February & March 2020 the Sales Volume as a percentage of the 5-Year Average was 115.61 & 119.81 percent respectively. In AprilJune 2020 there was a “V-Shaped Recovery” with the Sales Volume bottoming at 48.10% of the 5-Year Average. July & August 2020 was the inflection point with the Sales Volume soaring afterward… Sales Volume hit a peak of 150.48% & 146.42% of the 5-Year Average in the Q1 2021. With New Listings falling 21.3% and Sales Volume increasing 22.37% in 2021 it was inevitable that low inventory of available homes would reduce the Sales Volume: September, October, and November saw Sales Volume falling below the 5-Year Average (92.57, 82.56, and 94.3% respectively). December 2021 saw a recovery to 106.82% due to the persistence of buyers during the normally slow holiday period. On January 7th, 2022 there were just 77 houses, townhomes, and condominiums listed for sale in Huntington Beach… a balanced market has 400 to 500 residential properties for sale. The conditions for home sellers have never been better in Huntington Beach.

Why has the Huntington Beach Real Estate Market been so strong?

I witnessed Buyers flocking to Huntington Beach for many reasons after the CV-19 outbreak: Weather, outdoor recreation, good schools, overall community amenities, and attractive affordability as compared to adjacent beach communities were all considerations among buyers. The shift to “remote working” allowed workers from the Bay Area, Seattle, & Los Angeles to move to Surf City while maintaining high paying employment… and these highly paid “city transplants” were able to take advantage of extremely low mortgage rates (under 3% much of the year). Second home buyers from Vegas, Phoenix, Scottsdale, and Reno also jumped on the Huntington Beach bandwagon with many purchasing homes in the Downtown Huntington Beach area to get out of the summer heat at “home”.

When will the Huntington Beach Market Change in favor of buyers?

That is a trick question! There will be more homes for buyers to purchase as compared to the total number of buyers looking when mortgage rates go up. Once rates go up, fewer buyers will be competing for homes… but the buyers remaining in the market will have a higher payment for the same house. It is true, sellers will not have conditions as good as they are today when rates go up (fewer buyers with less buying power); however, it is more favorable for buyers to purchase now while mortgage rates are low. Even if demand falls, sellers are unlikely to reduce prices to a level which would compensate for a one to two percent increase in mortgage rates.

What happened to Days on Market, Price per Square Foot, and Average Sale Price in Huntington Beach in 2021?

There has never been a better time to be a home seller in Huntington Beach. The Inventory of available homes is so low, the Average Days on Market has fallen way below historic norms. Average Price Per Square Foot & Average Sale Price are well above the long-term trend lines!

Average Days on Market (ADOM): In January 2021, the ADOM for the properties which closed during the month was 34 days.

This is a typical number for January reflecting the previous months being the holidays. By March 2021, the ADOM fell to just 19 days, then hit 13 days in July, and hovered between 16 and 19 days for the remainder of the year. ADOM numbers this low are unprecedented during my 30+ year career selling homes in Huntington Beach.

Average Price per Square Foot (APSF): In January 2021, the APSF was sitting close the trend line at $582 PSF. As the year progressed, the APSF jumped well above the trend line peaking at $668 PSF and ending the year at $656 PSF which is approximately $50 PSF above the trend line going back to January 2013.

Clearly, APSF shows that prices have been on a tear in Huntington Beach during 2021… a jump from $582 to $656 is a substantial increase.

Average Sale Price (ASP): In January 2021, the ASP of a detached home sold was $1,382,578, which was slightly above the trendline.

The monthly ASP fluctuates since it is a random event dependent upon which “basket” of homes sells each month… variation is normal. June saw an ASP of $1,525,425 and the year ended at $1,449,665. The ASP was above the trendline $50,000 to $140,000 most of the year.

WATERFRONT HOME ON HUMBOLDT ISLAND Details & 3D Tour: www.16362Maruffa.info

105 Feet on Water | Over 4,600 SqFt of Living Area 90 Foot Side Tie Dock | 4 Bedrooms + Office

Bonus Room | 4.5 Baths | Kitchen Open to Family Room Rebuilt in 2004 with Luxury Quality Finishes, Huge Patio with Outdoor Kitchen & Fireplace, Amazing Waterview Master Suite with “Dream Closet” located on a Quiet CulDe-Sac. Beautiful Move in ready home… needs nothing!

NEW LISTING $4,750,000

CUSTOM BUILT & RECENTLY REMODELED EDWARDS HILL ESTATE Details & 3D Tour & Details: www.6621Polo.info

Over 7,600 SqFt of Living Area on 15,600 SqFt Flat Lot Luxury Quality 6 Bedrooms 6.5 Baths | 4 Car Garage

Spacious & Private Backyard | Equestrian Riding Trails Central Park, Stables, & Schools Nearby.

Call for an appointment to view this elegant estate.

NEW LISTING $4,999,000

16641 South Pacific, “Sunset Beach” area of Huntington Beach SOLD FULL PRICE: Multiple Offers, 6 Days On Market! Record Price $6,995,000 Newly Completed Oceanfront Home designed by “Brandon Architects” Over 4500 SqFt of Living Area “on the sand” with 5 Bedrooms & 5.5 Baths

For details & 3D Tour go to: www.16641sPacific.info | Represented Seller

617 & 619 7th Street, Downtown Huntington Beach

308 3rd Street, Huntington Beach

New Homes | Each with 3 BR 3.5 BA | Highly Upgraded

Modern 3 Story Home located just 3 blocks to Beach

www.6197thAerial360Tour.info

Asqft 2,976 SqFt | 3 BR | 3 BA + 2 Half BA | Elevator | Built in 2019

SOLD by SCOT | $2,400,000 and $2,550,000 Respectively

SOLD by SCOT | $2,910,000 | Represented Buyer

COMING SOON: Single Story | Ready to Remodel 3 Bedrooms | 2 Baths | Approx. 1,400 SqFt | 6,000 SqFt Lot 2 Car Drive-Thru Garage | Fruit Trees

19481 Pompano #103, “Pacific Ranch” Huntington Bch

Interior Tract Location!

975,000 | 2 Car Garage | Guard Gated Community with 3 Pool/Spas

16455 Ladona Circle, “Humboldt Island” Hunt. Harbour

528 14th Street, “Downtown” Huntington Beach

3D Tour & Details: www.16455Ladona.info

3D Tour & Details: www.52814th.Info

4 BR | 3.5 BA | 2,800 Asqft | 35’ X 15.5’ Dock | 2 Car Gar

CLOSED FULL PRICE | $2,850,000 | Represented Seller

7202 W. Oceanfront, Newport Beach

IN ESCROW FULL PRICE | 3 BR | 3.5 BA | 2,100 Asqft

3D Tour: www.19481Pompano3Dtour.info

3 BR + Bonus Room | 3.5 BA | 2,650 Asqft | Corner Lot

CLOSED OVER ASKING | $2,200,000 | Represented Seller

3243 Moritz Dr, “Broadmoor” Huntington Harbour

4 BR | 3.5 BA | 2,790 SF | 2 Car Garage

2 BR | 2 BA | 1,348 Asqft | 2 Car Garage | Completely Remodeled!

CLOSED FULL PRICE | $7,750,000 | Scot Represented Seller

CLOSED | $1,275,000 | Scot Represented Buyer & Seller

3D Tour & Details: www.7202oceanfront.info

3D Tour & Details: www.3243Moritz.info

Closed Transactions in 2021

by Scot Campbell PROPERTY ADDRESS 7532 807 10505 805 16760 606 606 901 8892 425 507 16452 16452 16255 17321 17321 5092 628 356 516 16455 3295 1200 617 617 1200 7202 627 627 308 3243 3243 528 4682 308 619 7351 16641 808 7101

Seaspring #104 Alabama Morada Alabama Bayview 13th 13th Huntington Gallant 22nd Pierside Germain Germain Tisbury Wareham Wareham Tasman 22nd Pasqual Ashland Ladona Moritz PCH #316 7th 7th PCH #313 Oceanfront 18th 18th 3rd Moritz Moritz 14th Warner #C112 Huntington 7th Coho #102 Pacific Geneva Starlight

CLOSE DATE

CLOSE PRICE

01/11/21 01/12/21 02/10/21 02/11/21 03/05/21 03/11/21 03/11/21 03/11/21 03/26/21 04/02/21 04/16/21 05/10/21 05/10/21 05/12/21 05/14/21 05/14/21 05/17/21 05/18/21 06/01/21 06/10/21 06/11/21 07/12/21 07/14/21 07/16/21 07/16/21 08/05/21 08/24/21 08/27/21 08/27/21 09/09/21 09/14/21 09/14/21 09/17/21 09/20/21 10/08/21 10/12/21 11/07/21 12/07/21 12/10/21 12/14/21

$ 605,000 $1,775,000 $4,800,000 $1,899,000 $1,975,000 $2,525,000 $2,525,000 $1,475,000 $1,175,000 $1,785,000 $1,350,000 $ 875,000 $ 875,000 $3,599,900 $1,492,500 $1,492,500 $ 900,000 $1,350,000 $1,223,800 $ 916,000 $2,850,000 $1,139,000 $ 825,000 $2,400,000 $2,400,000 $ 638,000 $7,750,000 $1,320,000 $1,320,000 $2,910,000 $1,275,000 $1,275,000 $2,200,000 $ 605,000 $1,685,000 $2,550,000 $ 800,000 $6,995,000 $1,700,000 $1,250,000

COMMENTS ON SALE Pacific Ranch Villa New Construction Record Sale Price, Multiple Offers New Construction New Construction New Construction, Seller New Construction, Buyer Multiple Offers, Full Price Multiple Offers, Full Price Multiple Offers, Full Price Record Sale Price Mutiple Offers, Seller 1031 Exchange Buyer Multiple Offers, Full Price Multiple Offers, Seller First Time Buyer Quiet Sale, Full Price Offer Multiple Offers Multiple Offers Multiple Offers, Sold Over Asking Price Multiple Offers, Full Price 1031 Exchange Buyer Multiple Offers, Record Price New Construction, Seller New Construction, Buyer Multiple Offers, Record Price Multiple Offers, Full Price Fixer, Needs Remodeling, Seller Remodel Opportunity, Buyer Record Sale Price Multiple Offers, Sold Full Price, Seller Out of area buyer Multiple Offers, Sold Over Asking Price Cute condo in gated community Multiple Offers New Construction Pacific Ranch Villa Multiple Offers, Record Price 1031 Buyer Multiple Offers, Record Price

SCOT CAMPBELL / COLDWELL BANKER-Campbell Realtors Global Luxury Specialist 714.336.0394 Mobile / scot@campbellrealtors.com / www.scotcampbell.com / DRE #00943759

Check out the Images & 3D Tour that SOLD a $6,995,000 home “Remotely” in just 4 days for a Record Price!

Link to the Realtor MLS Listing with HDRI Enhanced Photography: www.16641sPacificMLS.info We have all heard stories of people buying homes in today’s market “sight unseen”, but rarely does that happen for multi-million dollar luxury homes. The imagery & 3D tour would have to be really good… right?

When Scot Campbell put 16641 S. Pacific in Sunset Beach on the market, all the HDRI enhanced photography, 3D tour, and Drone Video were instantly published in the MLS. Within moments buyers began viewing images & tours… and setting appointments for a personal viewing. There were multiple offers within three days… two of the buyers were from out-of-state (Washington & Utah) making offers entirely on the imagery and facetime sessions.

The Agent for the winning bidder said: “We would never have made an offer without seeing the home in person if not for the 3D Tour… it was very helpful”.

If you would like your home marketed with the same quality HDRI enhanced photography, 3D Tour, and Drone Video that SOLD a $6.995 million dollar home “sight unseen”, contact Scot Campbell.

Virtual Tour: www.16641sPacific3Dtour.info

Aerial Tour: www.16641sPacificAerial360tour.info

COLDWELL BANKER Campbell Realtors 1720 Pacific Coast Hwy, Suite 101 Huntington Beach, CA 92648

Local Postal Customers

Having Thoughts of Selling your Home?

If so, email/text me the address, and I will send you a Custom Home Value Report… or order an instant value report at: www.HBhomeValue.com

Want to see All the Recent Sales Activity in your Neighborhood?

I post Market Updates monthly for: Downtown HB, Seacliff, Edwards Hill, Huntington Harbour, Brightwater, Bolsa Landmark, & Summerlane at: www.HBneighborhoodSales.com

How is the Huntington Beach Market?

Read a Monthly Report at: www.HowisTheHBmarket.com

How is the Orange County Market?

Read a Quarterly Report at: www.HowisTheOCmarket.com

SCOT CAMPBELL / COLDWELL BANKER-Campbell Realtors Global Luxury Specialist 714.336.0394 Mobile / scot@campbellrealtors.com / www.scotcampbell.com / DRE #00943759 The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations.

Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. ©2022 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.