In this exclusive OC180NEWS report, we look at the number of homes on the market, new listings, and the number of distressed homes in Seal Beach as of January 14, 2012. This analysis does not include Leisure World, which will be reported separately, and is only single family residents.
The total number of distressed homes in Seal Beach was unchanged in the most recent data. As of January 14, and December 15, 2011, there were 36 distressed homes in Seal Beach. That’s up from 31 in November and 29 in October. As of January 14, 6 of the distressed homes are officially on the market. Last month, 7 such properties were listed as for sale. The remaining homes are in the off market shadow inventory. We track the changes in distressed homes because they represent a price lid on the market and could suggest future market direction.
As of January 14, a total of 10 Seal Beach homes were facing a formal default notice, unchanged from December, and up from 7 in November. Foreclosure auctions are already scheduled on 15 Seal Beach homes (unchanged from December and up from 13 in November) and 5 homes in Seal Beach are bank owned (4 in December and 3 in November).
The number of homes on the market in Seal Beach continued its steady decrease from a high which was established at 59 units back in August 2011. Since then, the inventory of homes for sale in Seal Beach has contracted every month and now stands at 30 houses for sale in Seal Beach. Thus, the inventory of active listings has been reduced by one half since the seasonal high last summer. As the spring selling season begins to take shape, the number of listings should expand.
Even though there are fewer properties for sale, they are moving slower and slower. Back in August, homes were on the market for an average of 121 days. That number has increased every month since and now the average is 199 days. By way of comparison, in Rossmoor the average days on the market has been decreasing and now is only 75 days (see related articles below).
Since our mid-December report, four new regular listings have come on the market in Seal Beach. The newest listing is at 1415 Crestview Ave. This 3 bedroom/3 bath home is offered at $1,399,000, or $387.32 per square foot. The property has 3,612 SF and the lot has 7,625 SF. The average asking price of all Seal Beach houses on the market is $585.82 per SF.
The large house on the monster lot at 974 Heron Cir., is also new on the market. This 5 bedroom/6 bath house has total living space of 4,250 SF and the lot is 13,221 SF. There are very few West Orange County lots this large. The asking price is $1,899,000, or $446.82 per SF.
Another newly listed house is at 126 13th St. This 3 bedroom/3 bath property has total size of 2,654 SF and a lot of 2,938 SF. The asking price is $1,095,000 or $412.58 per SF.
The final new regular listing is located at 1685 Crestview Ave. This 4 bedroom/3 bath house has total size of 2,252 SF and a lot of 7,500 SF. The listing price is $1,049,000, or $465.81 per SF.
There is also one new distressed listing in Seal Beach. The property at 246 17th St has only 2 bedroom/1 bath. The total size is 700 SF and the lot is 2,500 SF. The listing price is $545,000.
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 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
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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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