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 February 15, 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 decreased to the lowest level in four months. As of February 15, there were 27 distressed homes in Seal Beach, down from 36 in January. As of February 15, 2012, 4 of the distressed homes are officially on the market. Last month, 6 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 February 15, a total of 6 Seal Beach homes were facing a formal default notice, down from 10 in January. Foreclosure auctions are already scheduled on 15 Seal Beach homes (unchanged from January) and 2 homes in Seal Beach are bank owned (5 in January).
After falling for the last five months, the number of homes on the market in Seal Beach moved up by one unit in February. Last month there were 30 homes on the market in Seal Beach and it has increased to 31 in the latest data. Remember, since we report Leisure World separately, these numbers are for all single family properties in Seal Beach. Numbers of more than 200 homes for sale in Seal Beach which some other media outlets report include Leisure World which usually has about 200 units on the market at any one time. Our report on Leisure World will be out shortly.
Since our mid-January report, 9 new regular listings have come on the market in Seal Beach. The newest listing is at 104 Dartmouth Cir. This house has 5 bedrooms, 3 baths, total size of 2,101 square feet, and a lot of 5,916 SF. This home is offered at $680,000, or $323.66 per SF. It has been on the market for 3 days.
Also on the market for 3 days is the house located at 3711 Wisteria St. This house has 5 bedrooms, 3 baths, total size of 2,930 square feet, and a lot of 6,097 SF. This home is offered at $899,999, or $307.17 per SF.
The house getting all the attention recently is the new listing located at 250 Ocean Ave. See the related article below. This house has 5 bedrooms, 7 baths, total size of 7,239 square feet, and a lot of 9,800 SF. This home is offered at $12,500,000, or $1,726.76per SF. It has been on the market for 15 days as of February 15.
There are now a total of 3 Seal Beach homes for sale at more than $2,000,000. But, other than 250 Ocean, the other two top end houses have been on the market for a long time. Just down the waterfront, at 400 Ocean, the house is offered at $7,925,000 and it has been for sale for 231 days. The property at 430 Ocean is priced at $6,500,000 and it has been on the market for 826 days, the longest of any currently offered Seal Beach house.
Seal Beach average prices are significantly distorted by these three very expensive properties. Thus, the following data excludes the three homes priced at more than $2 million. The average total listing price of the houses priced at less than $2 million is $1,118,341. The average price per SF for these properties is $429.08.
The least costly Seal Beach house is located at 4381 Birchwood Ave. This house has 3 bedrooms, 2 baths, total size of 1,472 square feet, and a lot of 5,200 SF. This home is offered at $549,000, or $372.96 per SF. It has been on the market for 351 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 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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