Signal Hill Real Estate Report - September 2013
What is the big real estate story in Signal Hill?
Buyer uncertainty, seasonal slow down and the government shutdown have caused the sale of homes to slow, but we have not reached a screeching halt. These factors combined with an increase in inventory levels, as more sellers jumped on the bandwagon attempting to command top dollar for the sale of properties, reflects continuing momentum in Signal Hill home sales.
Active Listings: 24 (Standard: 18 <1 new construction listed $435,000> Short Sale: 5 REO: 1)
Pending Listings: 17 (Standard: 6 Short Sale: 11)
Sold Homes: 9 (Standard Sales: 7 Short Sales: 1 REO: 1)
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
The average price of sold homes: $346,000 Average price per square foot of $269. Average number of days on the market: 54
What does this mean for Signal Hill Buyers?
Riding the waves of Signal Hill real estate can be a challenging exercise but the recent drop in interest rates should be monitored by buyers. The number of homes for sale has increased, interest rates reflect a slight dip - 4.33% on a 30 year fixed mortgage and the average days on market remain at 54 days (a large contrast with 30 days in previous months.)
What does this mean for Signal Hill Sellers
The Signal Hill Real Estate Report - September 2013 analyzes real estate trends. Sold homes are 50% less than the previous month, however traditional factors impact real estate sales during the fall/winter season. Serious, motivated buyers are in the market now so do not mistakenly assume all buyers are lookey-loos. This is my favorite time of the year to assist clients as motivations to buy are stronger.
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.