Signal Hill Real Estate Report - October 2013
What is the big real estate story in Signal Hill?
Contradicting the traditional slow down of the holiday season, new sellers are listing homes. During the month of October 14 new Signal Hill listings were added to the market.
Active Listings: 21 (Standard: 15 <1 new construction> Short Sale: 4 REO: 1 Probate: 1)
Pending Listings: 22 (Standard: 11 Short Sale: 11)
Sold Homes: 5 ( Standard: 4 Short Sale: 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: $315,300 Average price per square foot of $242. Average number of days on the market: 26
What does this mean for Signal Hill Buyers?
The average number of days on the market has increased to 70 days, which indicates a slow down in the frenzied pace of sales. This may allow buyers more time to find a home to purchase. However the caveat always stands, if it is a great home do not hesitate too long, other buyers may find the home just as attractive. Many buyers are moving quickly hoping to be in a new home by the beginning of the year if not sooner.
Interest rates remain attractive - 30 yr fixed at 4.5% and FHA 30 yr fixed at 4.25%. Good news for both buyers and sellers.
What does this mean for Signal Hill Sellers
The Signal Hill Real Estate Report - October 2013 analyzes real estate trends. More sellers continue to enter the market attracted by the rising prices. The average price for active listings is $556,779 with an average price per square foot of $308. The average days on the market has been impacted by short sale transactions, one with 404 days.
The price range for active listings is $225,000 - $1,200,000. The two highest priced listings have been on the market for 55 days.
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.