Overall Market IndicesSo far during the first six months of 2013, Huntington Beach saw a total of 950 houses, townhomes, and condos sold compared to 927 in the same period of 2012 (2.42% increase). The average Huntington Beach sale price increased from $592,038 to $642,090 an 8.45% increase. Price per square foot increased from $332.04 to $369.44 (11.26% increase).
Inventory
As of June 30th, the total inventory of homes for sale in Huntington Beach (not including homes accepting back-up offers) is just 280 houses, townhomes, and condominiums. The inventory is up slightly from earlier in the year, but still well below balanced market levels.
Mortgage RatesThe rate for the conforming 30-year fixed rate mortgage has increased a full percentage point in the last month. According to BankRate.com, the rate in May 2013 was 3.40%, and today’s rate is 4.39%. The higher rate is a drag on affordability for home buyers.
Attached Vs. Detached Market Dynamics
Whereas 2012 was the comeback year for the detached single family home market, 2013 has been the year for attached homes such as townhomes and condominiums:
Closed sales of attached homes are up 6.71%, the average sale price is up 17.91% to $450,296, and the average price per square foot is up 18.1% to $333.06 per square foot.
Closed sales of detached homes were down 1.12% this year. The average sale price is up 6.96% to $790,892, and the average price per square foot is up 9.1% to $388 per square foot.
No comments:
Post a Comment