In this exclusive OC180NEWS report, we look into homes sold in Leisure World during the month of December. This analysis does not combine Leisure World with the rest of Seal Beach, even though Leisure World is within the City of Seal Beach. See related articles below for our reports on the other parts of Seal Beach, Los Alamitos, and Rossmoor. This report is based on sales closing during December 2011 as reported to MLS
According to MLS data, 31 units closed escrow in Leisure World during December 2011. That compares to 30 units closing escrow during November 2011 and 28 completed sales in December 2010.
Even though as a seniors only community Leisure World has restrictions not applicable to the general market, sales of these units can provide important insight into the West Orange County residential real estate market. There is a much greater degree of comparability among Leisure World units than in the general housing market. These units have similar neighborhood characteristics, the variation in size and configuration is less, and there are more transactions, which make averages meaningful. Plus, Leisure World units can’t be sold as tare-downs or on speculation.
Even though the number of sales improved slightly in December, the market for Leisure World units showed signs of weakness. The average time it took to sell a unit was longer and both total price and price per square foot averages trended downward.
The average total selling price for December 2011 was $114,138, down 3% from the prior year, and 5% lower than November.
The average price per square foot for the Leisure World units also fell in December 2011. The average from last month was $134.53, down 5% from one year ago and down 3% from November2011. In addition to the price declines, the Leisure World units are selling slower. The units sold during November were on the market for an average of 85 days. Last month, the average increased to 152 days.
Three samples of December’s sales will illustrate the market activity. The prices for the least expensive units for December and November were almost exactly the same, but the highest priced unit in December sold for much less than the highest priced November sale.
The least expensive Leisure World unit sold last month is at 13800 Annandale 38B M1. This 1 bedroom/1 bath unit has 600 square feet. It sold for$59,000. In November, even though it was 200 square feet larger, the least expensive unit sold for $58,775. The Annandale unit was only on the market for 2 days. This property sold for $73.75 per square foot.
At the other end of the price spectrum is the unit at 1300 Golden Rain 9G M3. This 2 bedroom/2 bath unit has 1,160 SF, one of the largest Leisure World units. This home sold for $230,000. In November, the highest priced property, which was the same size, went for $300,000. The Golden Rain unit sold after only 30 days on the market. The selling price was $198.28 per square foot.
Right in the middle of the price range is the unit at 1220 Northwood Rd 230AM9. This 2 bedroom/1 bath unit has 800 SF. It sold for $119,000, or $108.18 per SF. The listing price was $128,000 and it was on the market for 65 days.
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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