Year to date residential real estate selling prices for the Old Town section of Seal Beach fell 11%, while the rest of Seal Beach experienced at least modest increases. In this neighborhood analysis, we consider transactions through April for this year, compared to the same period in 2009.
Just as we separated Rossmoor from Los Alamitos when reporting on the 90720 zip code (see related article below), in this analysis we divide the City of Seal Beach into its major components. In addition to Old Town (South of PCH, between the jetty and the river), the city has been grouped into College Park West, College Park East, Leisure World, and everything else.
The primary number we have used to determine changes in selling price is average selling price per building square foot, year to date through April 2009 verses 2010. The numbers are as follows:
April 2009 YTD April 2010 YTD
College Park East $309.87 $343.10
Number of transactions 8 8
College Park West $350.87 $412.61
Number of transactions 2 1
Leisure World $147.19 $151.73
Number of transactions 84 120
Old Town $534.22 $476.98
Number of transactions 6 6
All other $474.51 $553.75
Number of transactions 6 2
With the exception of Leisure World, the number of transactions is pretty small to create meaningful averages. Nevertheless, the trend is relatively clear—Old Town prices have fallen, while the other parts of the city have increased.
The two transactions in “All other”, which are North of PCH, involved relatively small houses compared to the lot sizes. These homes, at 621 Taper Dr and 605 Silver Shoals Ave have house sizes of 1,415 SF and 1,306 SF respectively, but these homes sit on lots of 5,500 SF and 5,000 SF, respectively. The house at 621 Taper Dr
Sold for $754,500 and was on the market for only 4 days. The house at 605 Silver Shoals Ave., sold for $750,000 and was on the market for 25 days.
Since the end of April, there have been two other sales in this area and they h ave fetched even higher prices per SF. 700 Beachcomber Dr
Sold for $840,000 or $550.82 per SF and was on the market for only 21 days. The other sale, 715 Driftwood Ave, also sold for $840,000, but with 214 fewer square feet, the price per SF was a whopping $640.73.
College Park West is the other area with very few transactions. It also had the largest percentage increase in selling price/SF—up 18%. The only home sold in this area was 140 Yale Ln, Which sold for $635,000. With 1,539 SF, this property sold for $412.61 per SF. This home sits on a lot of 7,400 SF, which is considerably larger than many other College Park West properties, which have lots smaller than 6,000 SF.
All of the data in this article was supplied by Glenn Gaspar, REALTOR® with First American Team Realty, Inc.
Return to www.OC180NEWS.com next Monday for our continuing biweekly series on countywide residential real estate supply and demand trends.
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About Dolores Barr, Publisher
Dolores Barr has lived in Rossmoor since 1992 and has created this site to provide local news for the people of Los Alamitos, Seal Beach, Rossmoor, Leisure World, Sunset Beach, and Surfside, California. My husband and I have had two students graduate from the Los Alamitos Unified School District and currently our Grandson, Ricky Apodaca, grade 3 at Weaver Elementary, is actively involved in youth baseball through LAYB and youth football through FNL.
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