Just like the weather, real estate sales activity was hot this summer in the Sun region, leaving many sellers to believe the sky's the limit. While some home seller's got their asking price, others had to get their feet back on the ground presenting good opportunities for buyers.
While sales activity remained brisk in most neighborhoods, there were several high-profile sales that seemed to raise the bar. Most notable was the vacant land at 400 Ocean Avenue that sold on May 14 for $4,600,000 after 852 days on the market. It's twin, the other half of a lot split, is still on the market and currently being offered at $4,500,000.
Seemingly defying the upward trend on the Seal Beach Gold Coast was the home at 102 Ocean Avenue. Originally listed for $4,500,000, the home languished on the market for 272 before canceling the listing. After a brief stint off the market, the home was relisted at $3,999,999 and sat for another 141 days with no activity and was again removed and then relisted at the same price. Finally, on September 9th the home was put under contract ending a dry spell for the seller.
College Park East saw a run up on home prices and substantial volume of sales activity during the summer. If you thought this neighborhood was considerably more affordable, think again. Two sales broke through the $900,000+ barrier making jaws drop and sellers gidy. 3840 Goldenrod Street sold for $945,000 after 44 days on the market while 3681 Fuschia Street stole the show when it sold for $1,045,000 after 66 days on the market.
College Park West posted a high end, quick turn sale proving it's desirability remains strong among buyers. With next to zero inventory available, it's no surprise that 240 Harvard Lane sold before it was listed for $905,000 and closed escrow in just 42 days.
So what, if any, opportunities remain for buyers that are still in the market? Currently there are six homes that have made significant price reductions in the last 30 days hoping to garner buyer attention. Most notable is 246 17th Street which was completely rebuilt in 2013. The home boasts ocean and bay views from the master bedroom and rooftop deck, adding to the 71 point walkability score with an offering price of $1,029,000.
Do you think your Seal Beach home may be the next to raise the bar in your neighborhood? Find out by checking the value at www.SealBeachHomeValues.com. You may be surprised at what you could sell your home for in this market.