Realty Digest April 2023 by Scot Campbell

Wow, possibly the most beautiful newly built modern home you will see available for purchase this year on the Downtown Huntington Beach numbered streets. Exquisite Open Concept floor plan has modern inspired architectural concepts… This home is ideal for an owner who wants to be “refreshed” everyday by a residence with clean lines and lots of natural light.

JUST LISTED: $2,999,000

3 BR | 3.5 BA | 2856 SqFt | Built 2020 | Open Concept | 3rd Floor Bonus | Indoor/Outdoor Rm | Sundeck

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I am an E xp E rt at m atch I ng h om E B uy E rs w I th h om E s E ll E rs !

h om E s E ll E rs : 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 rs : 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 42 on April 13, 2023 indicates conditions have moved from a “Balanced Market” a few weeks ago to a “Strong 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 Dock s 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 Now a Seller’s Market Again

By Scot Campbell | 714-336-0394 | Scot@CampbellRealtors.com | Source: Reports on Housing | April 17, 2023

SUMMARY: The number of available homes to purchase is at an extremely low level. Despite higher mortgage rates than last year, there are more qualified buyers competing to purchase than there are available listings.

In Orange County, typically, the inventory slowly grows from January through March and then picks up steam during the spring. This year, the inventory dropped from 2,530 in January to 2,053 today, plunging by 19%. The 3-year average mid-April inventory before COVID (2017 to 2019) was 5,780, an unbelievable 182% higher than today. Demand has increased from 900 pending sales to 1,663 today, an 85% rise. The 3-year pre-COVID average was 2,777, 67% higher than today, its lowest level for mid-April since 2020, during the initial pandemic lockdowns. Demand readings are down because of higher rates and fewer homes available to place into escrow.

The Days of Supply is the number of days to sell every property on the market at the current rate of sale (if no new listings are put on the market)… it is the best overall indicator of the housing market.

Despite muted demand readings, the Days of Supply has dropped like a rock. With the inventory dropping while demand expands, market times continue to fall. It was 84 days in January and has sunk to 37 days today, plunging below 40 days for the first time since May 2022.

The housing market feels hot when the market time dips below 60 days. Buyers can no longer take their time. Housing lines up in the seller’s favor, and home values are sticky and no longer falling even with mortgage rates in the mid 6’s. When a home is accurately priced, and in good condition, it acquires instant attention and sells fast.

When the Days of Supply drops below 40 days, the housing market leans heavily in favor of sellers.

Buyers entering the market today cannot believe just how fast homes that are in good condition and priced according to their Fair Market Values are flying off the market… with multiple offers to purchase. Open houses are very busy. In some cases, inspection and appraisal contingencies are once again being waived like in 2021.

Hey prospective home sellers… You did not “miss the boat”!

Today’s 37-day Days of Supply means that housing has once again dipped below the level where the conditions heavily favor sellers… so if you are having thoughts of selling NOW is the time to do it.

40’ Boat Slip | 2 Car Garage

Beautifully remodeled waterfront home on Trinidad Island in Huntington Harbour with a 40’ private boat dock, boat parade view, and a Pool/Spa. There is nothing like the Trinidad Island Lifestyle: It features a beach, two playgrounds, large greenbelts, and waterfront walkway for evening strolls... simply one of the finest neighborhoods in Coastal Orange County!

List Price: $3,899,000

by Scot Campbell & Jennifer Polich