July 15, 2008

Inventory for Huntington Beach

The median price of homes and home sales are at a record low in Southern California. As reported in DQNews.com, buyers looking for a bargain drove home sales up in the month of May, but it was still one of the slowest months in the past 20 years. The median price for homes dropped a staggering 27% from one year ago. To give you a big picture perspective, there were 16,917 homes that closed escrow in Southern California. When we take a look at the numbers for an individual city such as Huntington Beach, we can see how it stacks up when compared to the entire southland region, which had a median home price of 370,000. As you can imagine, in Orange County it was slightly higher with a median price of $485,000 (a 23% change from this time last year). When we jump over to our friendly neighborhood of Huntington Beach, we see a considerable change of $820,281 for the median home price. With the average home being on the market in Huntington Beach for an average of 84 days, H.B. remains a buyer’s market. Below is a detailed breakdown for Huntington Beach.

Home Sales and Demand Trends