Signal Hill Real Estate Report - January 2014
What's happening in Signal Hill? Well the market is slowly warming up as seller/buyer confidence improves according to the annual report published by California Association of Realtors. The number of Active listings and buyer traffic at various open houses have increased as the busy spring season approaches.
Real Estate Activity Single Family Homes
Active Listings: 12 Standard Sale: 11 Short Sale: 1
Pending Listings: 8 Standard Sale: 5 Short Sale: 2 Probate Sale: 1
Sold Listing: 1 Standard Sale: 1
Price for sold home: $650,000 Price per square foot: $297 Days on the market: 207
Real Estate Activity Condominiums and Townhomes
Active Listings: 13 Standard Sale: 10 Short Sale: 3
Pending Listings: 11 Standard Sale: 6 Short Sale: 5
Sold Listings: 7 Standard Sale: 6 Short Sale: 1
Average price for sold: $340,000 Average price per sq. ft: $258 Average days on market: 86
What does this mean for Signal Hill Sellers?
Homeowners entering the market now may take advantage of the increasing buyer activity prior to competition entering the market. According to the CAR 2013 Seller Survey on an average sellers of well priced homes received 6 offers due to the imbalance of supply and demand last year. With the assistance of a knowledgeable Realtor your home may become involved in a multiple offer situation.
What does this mean for Signal Hill Buyers?
Finding and purchasing your new home before the competitive spring selling season begins may result in financial savings due to a lower interest rate and fewer bids on properties. An experienced Realtor maybe able to negotiate concessions from the seller.
The Signal Hill Real Estate Report - January 2014 points to a promising upcoming season. Buyer and Seller confidence is on the rise. The distressed market is slowly fading away and appreciation is on the horizon. An experienced Realtor is an asset to both buyers and sellers. Call me!