Huntington Beach Market Update May 2010

Huntington Beach and Orange County Real Estate Market Update

Each month the Hunthausen Group throws together a quick real estate market update for Huntington Beach and the surrounding area. Here is a quick snap shot of this month:

In the month of May there were 2,380 single family residences (SFRs) and condominiums that were closed sales in Orange County. 56% of those sold were considered distressed sales with special conditions that ranged from short sales, pre-foreclosures, banked owned (REO), and auctions.

In Huntington Beach, there were 70 single family residences and 58 condominiums that were new listings up for sale under $950,000 during the month of May.

There were 89 single family residences that closed escrow during May, with an average listing price of $612,740 that closed for $604,417. Overall, this is a 4% decrease from the original listing price and a 2% decrease from the reduced listings price.

There were 44 condos that closed escrow with an average listing price of $388,930 and a closing price of $376,622. Overall this is a 6% decrease from the original listing price and a 3% decrease from the reduced listing price. The average home size on the market this month was 1236 square feet which calculates out to $294 per square foot for the average sales price. This is a 3.1% decrease from April of 2010.

The Hunthausen Group welcomes anyone with questions, comments, or consultation to contact us anytime!

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