Huntington Beach Real Estate Update | November 2022

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

 

 

 

 

 

 

 

Average & Median Sales Price

The median sales price in October 2022 was $1,293,750, equal to the previous month and 9.09% higher than $1,186,000 from October 2021. The October 2022 median sales price was at its highest level compared to October 2021 and 2020. The average sales price in October 2022 was $1,510,262, down -2.98% from $1,556,574 from the previous month and 9.50% higher than $1,379,195 from October 2021. The October 2022 average sale price was at its highest level compared to October 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 October 2022 sales price/list price ratio was 99%, up from 98% from the previous month and down from 101% from October 2021.


Number of Properties Sold & Absorption Rate

The number of properties sold in October 2022 was 80, down -9.09% from 88 from the previous month and -27.93% lower than 111 from October 2021. The October 2022 sales were at its lowest level compared to October 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 October 2022 was 38 days, down -22.45% from 49 days from the previous month and 8.57% higher than 35 days from October 2021. The October 2022 DOM was at a mid level compared with October 2021 and 2020.


Average Sales Price per Square Foot


Inventory & MSI

The number of properties for sale in October 2022 was 223, up 16.75% from 191 from the previous month and 90.60% higher than 117 from October 2021. The October 2022 inventory was at its highest level compared with October 2021 and 2020. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2022 MSI of 2.79 months was at its highest level compared with October 2021 and 2020.


New Listings

The number of new listings in October 2022 was 101, up 1.00% from 100 from the previous month and 1.00% higher than 100 from October 2021. The October 2022 listings were at a mid level compared to October 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.