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What Is Going On In The Huntington Beach Real Estate Market So Far In 2012?

I have been showing property and writing offers for clients and all of a sudden multiple offers started happening again. I just wrote an offer for a client $20k over asking and we didn’t get it. The final accepted offer was $50k over asking all cash. What is going on? So I started to dig into the data and this is what it is saying.

For Sale

There were 775 homes for sale in January of 2011 and 804 in February of 2011. Contrast that to 482 homes for sale in January of  2012 and 506 for February of 2012. That is a 38% drop from January 2011 to January 2012 and a 37% drop from February 2011 to February 2012.

Sold

There were 103 homes sold in January 2011 and 99 in February 2011. Contrast that to 120 in January 2012 and 122 in February 2012. That is a 16% increase in homes sold from January 2011 to January 2012 and a 23% increase from February 2011 to February 2012.

Conclusion

Now these multiple offers make sense. Supply is way down and demand is up. Many times we have an equilibrium in rents v buy and people are starting to take advantage of low prices and historically low interest rates.

Have we hit a bottom? Let me know what you think.

Huntington Beach Real Estate Listings

See all Huntington Beach Homes $600 - $750k.
(all data current as of 4/20/2014)

  1. 3 beds, 2 full baths
    Home size: 1,639 sq ft
    Lot size: 6,098 sqft
  2. 3 beds, 1 full, 1 part baths
    Home size: 1,433 sq ft
    Lot size: 6,098 sqft
  3. 3 beds, 2 full baths
    Home size: 1,224 sq ft
    Lot size: 10,019 sqft
  4. 4 beds, 3 full baths
    Home size: 1,800 sq ft
    Lot size: 6,720 sqft
  5. 3 beds, 2 full baths
    Home size: 1,381 sq ft
    Lot size: 3,587 sqft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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