Signal Hill Real Estate Report - August 2013
What is the big real estate story in Signal Hill? Well the Signal Hill Real Estate Report - August 2013 reveals very steady real estate activity. Average prices and number of transactions remained close to the previous month. However a few fantastic deals were closed by fortunate buyers. Prices varied ranging from $155,000 for a 1bedroom 1 bath, 800 square foot condo (fantastic buy!) to a $830,000 4 bedroom 3 bath, 3089 square foot bank-owned home with unbelievable ocean views.
Active Listings: 12 (Standard sales: 10 <2 new construction sales> Short Sales: 2)
Pending Listings: 20
Sold Homes: 17 (Standard Sales: 12 Short Sales: 2 REO's <bank-owned> 3
Signal Hill real estate is primarily a mixture of newer condominiums and townhomes (built from 1970's - current new construction) while the single-family homes reflect a mixture of new and older, built from 1920 - 2010.
Condo & Townhomes Sold: 9 Single-Family Homes Sold: 8
The average price: $457,000 Average price per square foot of $280. Average number of days on the market: 54
What does this mean for Signal Hill Buyers? Great deals are not falling from the trees, it takes a well-planned strategy, persistence and determination, to win in a very competitive market. Buyers should have a pre-approval prior to beginning their real estate search. Be prepared to submit your highest and best offers first!
What does this mean for Signal Hill Sellers? The Signal Hill Real Estate Report - August 2013 analyzes real estate trends, finding that correct pricing is critical. For the seven homes listed above $500,000 five sold at a price up to 10% lower than the list price. The showing condition, interior and exterior, should reflect care and good maintenance to attract the top dollars. Homes need to be accessible for showings. Don't allow your home to be missed by prospective buyers.
It is a seller's market however it is very competitive as more sellers are listing their homes and buyers, impacted by the rising interest rates are proceeding with caution. Pent-up demand is striking as a community of homeowners, who typically sell and move every five years, are finally able to enter the market.
Signal Hill buyers and sellers need an experienced Realtor to guide you through the real estate process. Working with new construction builders, or newer 21st century homes is my area of focus. Call me to assist you with the selling or buying of your next Signal Hill home.