On this page we maintain a series of graphs that represent the current market trends in Huntington Beach. The graphs are updated weekly, thanks to Altos Research. If you are interested in a more detailed reports, please let me know. I currently have reports updated weekly once a week for the Downtown Huntington Beach area 92648. I can easily get other area, just let me know!
The Median SFR Home Price
The following graph indicates the median home price for Single Family Residences.
The Market Action Index (MAI)
This is a proprietary indicated derived by Altos Research to give a quick snapshot of, How’s the market.
The Average Days On the Market (DOM)
This indicator is how long properties are sitting on the market (specifically listed in the MLS) before they finally sell. This information can be a little misleading if you do not take into account the predominant factor that typically determines the time it takes a property to sell is the list price. It is typically for anybody emotionally attached to there house, wanting to snag top dollar to be too optimistic. Once people come to grips with the market, they will often drop the price and the house will be sold.
Having said that, the DOM can be a great indicator of a changing market. If the DOM starts increasing, (even as prices rise) that may indicate a market that is on the decline. On the other hand as the DOM decrease, that may indicate a market that is stabilizing.
Average Price per Square Foot
The average price per square foot is a general rule of thumb that can be used to very quickly get a feel for price changes. The price per square foot attempts to normalize the costs across a variety of different sized homes. It is most helpful when compared among homes of similar sizes (i.e. within +/- 10% square foot).
WARNING: while this indicator provides a quick and dirty snapshot of the area, it can be dangerous to count on the price per square foot of a given property to be the value of a home. You really need to do appropriately do comps (Comparative Market Analysis). For example, just like that which I can do for you.
Current Inventory
The inventory is self explanatory, which is the number of properties currently for sale. As you may guess, as the inventory grows, it typically indicates a buyers market. To really tell if we are in a buyers market, we need to take into account the number of buyers vs. homes for sale.
If you want a clearer picture of up to the minute market activity in a specific area, for example the Lake Park area, for a given price range, say $800,000 to $1.2million. Or south Huntington between $580,000 and $892,000. Let me know I will be glad to provide you with that information.
Until next time!
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