Huntington Beach Real Estate Update | January 2023

The overview below shows real estate activity from January 2022 to December 2022. You will see data comparisons between December and the previous month, the last three months and December 2021.

 

 

 

 

 

 

 

 

Average & Median Sales Price

The median sales price in December 2022 was $1,263,000, up 11.31% from $1,134,700 from the previous month and 3.10% higher than $1,225,000 from December 2021. The December 2022 median sales price was at its highest level compared to December 2021 and 2020. The average sales price in December 2022 was $1,515,354, up 7.74% from $1,406,553 from the previous month and 7.34% higher than $1,411,675 from December 2021. The December 2022 average sale price was at its highest level compared to December 2021 and 2020.


Sales Price / List Price Ratio

The sales price/list price ratio is the average sale price divided by the average list price for sold properties expressed as a percentage. If it is above 100%, homes are selling for more than the list price. If it is less than 100%, homes are selling for less than the list price.  The December 2022 sales price/list price ratio was 95.85%, down from 97.6% from the previous month and down from 103.47% from December 2021.


Number of Properties Sold & Absorption Rate

The number of properties sold in December 2022 was 61, down -12.86% from 70 from the previous month and -43.52% lower than 108 from December 2021. The December 2022 sales were at its lowest level compared to December 2021 and 2020. Absorption rate is the avg number of sales per month divided by the total number of available properties.


Average Days on Market

The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, a downward trend tends to indicate a move towards seller’s market. The DOM for December 2022 was 46 days, down -6.12% from 49 days from the previous month and 91.67% higher than 24 days from December 2021. The December 2022 DOM was at its highest level compared with December 2021 and 2020.


Average Sales Price per Square Foot


Inventory & MSI

The number of properties for sale in December 2022 was 133, down -24.00% from 175 from the previous month and 52.87% higher than 87 from December 2021. The December 2022 inventory was at a mid level compared with December 2021 and 2020. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2022 MSI of 2.18 months was at its highest level compared with December 2021 and 2020.


New Listings

The number of new listings in December 2022 was 35, down -42.62% from 61 from the previous month and -41.67% lower than 60 from December 2021. The December 2022 listings were at its lowest level compared to December 2021 and 2020.

About the Author
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The real estate industry continues to evolve, and I pride myself on being on the cutting edge, finding new ways to work with clients to achieve their real estate goals.

My real estate experience coupled with insight of industry trends ensures that I stay one step ahead of other realtors. I enjoy making sense of the complex real estate market in Southern California, and look forward to teaming with you and exceeding your expectations.

My passion for winning stretches back to my time playing professional baseball, and I know that hard work pays off-let me hit a home run for you! I’m committed to delivering your dream home or selling your current property at a winning price.

Affiliations: California association of Realtors, National Association of Realtors, Relocation Specialists.