As Orange County’s fourth-largest city, Huntington Beach is a highly desirable place to find a luxury property. Because of that demand for homes in far into the hands of sellers with so many buyers on the table that they are forced into competition for the few available listings here. It’s a part of the allure of living in Huntington Beach, and for many residents they want it to stay that way.
Housing density in Huntington Beach is a hot button issues as of late and officials are nearing in on a final vote for the Beach-Edinger Corridor Specific Plan that would add some 2,000 new residential units to the community. This seemingly obvious action to bring more properties to a market lacking in that area hasn’t been taken too well by many residents who are opposing developments. However, the final say will inevitably come down to the council.
“The people of Huntington Beach are opposed to these massive apartment developments, and the council will recognize the will of the people,” City Councilman Dave Sullivan said, who is against the developments that will bring more traffic and create a headache for people using public transportation and looking for parking spots around town.
However, a councilman in favor of the development said that there is a dire need for high end apartments and that they won’t turn Huntington Beach into something that residents fear.
Current Huntington Beach market conditions
The current conditions in Huntington Beach show that it’s a tight housing market here. According to Altos Research, a California-based real estate analytics company, the demand for properties in Huntington Beach is high and continues to climb driving home values up as well. The median single-family home value in Huntington Beach was most recently reported at $1,026,837, which is the highest 90-day average reported in the past 12 months.
The seven-day average, a more real-time figure, saw the median home value as of April 3 at about $1.5 million. The influx of demand for homes in the community is a major driver of home price fluctuations here. Altos uses a unique figure called the Market Action Index to determine whether conditions are trending in favor of home buyers or sellers using a scale that values 30 as neutral. The index was most recently reported at 47.50, which shows a strong lead toward sellers.
With just about 182 homes for sale in Huntington Beach at the start of April, which is around the 12-month low. Those homes are coming off the market in an average of 98 days. With the spring buying season getting underway, these conditions are going to tighten in the coming months. The average days on market is falling from its peak and the seven-day average is at about 80 days of being listed.
If you’d like to learn more about luxury Huntington Beach homes, give us a call. We’d love to show you around some of the most magnificent homes in the community.
Check out these available Huntington Beach homes between $1.5 million and $2.5 million
$1,675,000 : 21141 Hillsdale Lane, Huntington Beach5 beds, 5 baths
$1,995,000 : 6795 Turf Drive, Huntington Beach5 beds, 5 baths
$1,695,000 : 1830 Pine Street, Huntington Beach5 beds, 3 baths
$1,595,000 : 314 6th Street, Huntington Beach4 beds, 4 baths
$1,875,000 : 19275 Woodlands Drive, Huntington Beach5 beds, 5 baths
See all City of Huntington Beach Luxury Homes For Sale.
(all data current as of 8/17/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.