Seal Beach Real Estate Still in Demand
May 12, 2009 by Wilm
Filed under Real Estate
Seal Beach residential real estate demand continues to grow. Inventory of unsold properties falls.
At the end of April unsold county homes was again less than the month before and new listings were lower than they’d been since Spring of 2006. Of the more than 10,000 homes unsold nearly 4,000 were “distressed” properties.
In Seal Beach, not surprisingly, the percentage of “distressed homes” was only four and there had been as many as 8 distressed properties in Seal Beach.
There were 360 homes for sale in Seal Beach in March but that number had fallen by April.
Although there are similarities between Seal Beach’s numbers and the county’s, Seal Beach is still a real estate anomaly in the state. Seal Beach listings do have similar timelines regarding how long they are listed before selling but when one considers the much higher per-foot cost of Seal Beach homes it is understandable they are on the market for longer periods.
Now that there are fewer homes for sale and more buyers for Seal Beach homes the listing times should clearly shrink, however, Seal Beach can’t be used as an indicator for what we should expect for the entire county.
I going to agree with exactly what you’ve written. Seal Beach’s sales numbers are often skewed by the Leisure World inventory, which many people do not know is “cash only” purchases.
I was just chatting today via Facebook with friends & neighbors here in Seal Beach about the tremendous increase in recent sales volume (most notably the last 3 months). Most recently was a listing at 701 Coastline Drive in Seal Beach. Listed 4 days ago for $729,000 and SOLD today.
Whats interesting is we are starting to see this increase in activity spread across all price points, not just the low end of our market. I post regular Blog posts and video previews of new listings at http://www.NatsTheAgent.com if you want to stay on top of new listings and sales as they happen. You can follow me on Twitter >> @Nat_Ferguson.
Great read and glad someone is writing about the positive events in out local market!