In this exclusive OC180NEWS report, we look into houses sold in Seal Beach during the month of December. This analysis does not include Leisure World (which will be reported on separately), it includes all sales reported to the MLS for closing dates in December 2011, and it includes only single family homes.
According to MLS data, 5 houses closed escrow in Seal Beach during December 2011. That compares to 11 houses closing escrow during November 2011 and an average of 9 closings per month for April through November. As expected due to seasonal trends, December was the slowest month since April for home sales in Seal Beach.
The average total selling price of the 5 houses sold during December 2011 was $669,200, down 17% from the average for November sales. The average for the prior eight months is $805,000.
Not only did the number of completed sales and the average sales price decrease from the Prior months, the price per square foot also fell. The average selling price per sf in November 2011 was $432.64. Last month the average selling price per Sf was $315.40, a drop of 29%. The average per SF selling price for the previous 8 months was $415.86.
Rather than December’s low selling price per square foot representing a serious drop in Seal Beach market values, the price decline appears to be more a function of fewer transactions and the random selection of homes which closed last month. Of the five homes closing in December, only one sold for more than $400.00 per SF. In November, five of the eleven homes beat this benchmark.
The same analysis applies to total selling price. In November, five of the eleven homes closing went for more than $700,000 and the average total selling price of the previous 8 months is $805,000. Last month, only one of the five sales sold for more than $700,000.
The one higher priced home closing last month is at 484 Schooner Way. This 3 bedroom/3 bath home went for $855,000 after 73 days on the market. It was listed at $875,000.
This home has a total of 1,766 SF and the lot is 3,474 SF. The selling price per SF was $484.14. This was the only home sold in December for more than $400.00 per SF, and the only home sold in December for more than $700,000 total selling price.
Beside the Schooner Way sale, there was only one other December sale for more than even $300.00 per SF. This property, at 4817 Dogwood, sold for $555,000, or $315.70 per SF. This home has 3 bedrooms, 2 baths, total square feet of 1,758 SF, and a lot of 5,304 SF,.
The three remaining Seal Beach homes sold during December 2011 ranged from $215.71 per SF (3550 Carnation Cir), to $295.75 per SF (109 Yale Ln). In November, there were also three homes sold in this price range, but there were several sales in the higher ranges to bring up the average.
The bottom of the market in November was very similar to December, but last month had very little high end action. The net result is that average prices fell significantly last month, but with only five homes comprising the December averages, the drop in values is probably more related to a random selection of homes closing in the month, than a crashing market.
The real estate data in this article was supplied by Glenn Gaspar, REALTOR® with First American Team Realty, Inc. OC180NEWS thanks Glenn for providing the data and his expertise without which this article would not be possible. The analysis and text are by OC180NEWS.
Glenn may be reached at:
Glenn Gaspar
First American Team Realty
DRE License #01048604
(714) 612-0995
(562) 427-7765 ext: 144
www.GlennGaspar.com
http://www.glenngaspar.com/
For an explanation of reasons for variations in reported real estate numbers, visit the related article below.
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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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