Huntington Beach is a highly sought-after seaside city that is located within Orange County. It is known for its stunning beaches, mild climate, oceanic views, good school systems, and of course the excellent surfing. While homes are sold throughout the year to interested buyers, spring and summer are often the busiest times of the year for Huntington Beach Real Estate, which means that both sellers and buyers need to prepare if they want to capitalize on the strong market.
Huntington Beach Real Estate Market Conditions
Huntington Beach, California has a strong Real Estate market. Currently, the median home value is approximately $818,000, which is a 3.7 percent increase over the past year. To put this figure into perspective for renters, the median price per square foot is $482 with an average median rent price of $3,200. The latter value is higher than the Long Beach-Anaheim Metro area and is an important factor to consider if you are interested in owning a vacation home that can be rented out when you are not using it. Additionally, buyers should also consider the current median sales price of approximately $747,500.
How Can You Capitalize On The Seller’s Market?
The strong selling conditions in Huntington Beach can be attributed to the rebound in the Real Estate market. Inventory numbers are low and the number of interested buyers is high, which means that the scale is tipped in favor of the seller. As the summer season continues to heat up and buyers search for the ideal properties, sellers should consider listing their home before the busy season subsides. Sellers should also prepare for potential bidding wars from buyers interested in purchasing a home in Surf City.
Discover The Silver Lining For Buyers
A savvy Huntington Beach Realtor can help buyers discover their own silver lining in a competitive seller’s market. The trick to finding the house of your dreams in Huntington Beach is to use the following tips and factors.
- Work with a trusted Huntington Beach Realtor who has a large local network, is dedicated to finding a home that meets your search criteria, and has a strong sales history. The right Realtor will be able to leverage their local knowledge and network to more easily find you the home of your dreams.
- Be ready to act quickly when a house goes on the market. The average number of days on market dropped to 37 during the spring months. This means that a buyer can take advantage of a motivated seller by submitting an offer as soon as the home is listed on the MLS. Waiting too long to submit an offer can result in a bidding war between you and other buyers.
- Carefully consider the financial benefits of buying a foreclosure property. Generally speaking, buyers can “get more bang for their buck” when they buy a foreclosed property. While foreclosed homes do offer a reduced price, buyers run the risk of purchasing a home that is in need of numerous repairs. With this in mind, be sure that you and your Huntington Beach Realtor complete your due diligence before you bid on a foreclosed property.
- The current low interest rates can help buyers to save a significant amount of money on their Real Estate purchase. However, if buyers want to act quickly on a property, then they must know their interest rates before they head to an open house.
Work With A Huntington Beach Realtor Today
Whether you are a current home owner in Huntington Beach, or interested in buying a property in Surf City, a savvy Realtor can help you to capitalize on the summer market conditions. To begin your Real Estate journey, contact Jeb Smith, your professional Real Estate guide for Huntington Beach, California.