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Monday, 16 April 2018 23:03

Sunset Beach Appraisal

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I appraised a somewhat unique home last week. It was a very complex appraisal assignment in that the subject property was over 5,000 sf of living area and located in the very small community of Sunset Beach.  Sunset Beach has now been incorporated into Huntington Beach and is adjacent to Huntington Harbor but along the ocean front. The lack of camparable sales makes it tough and forced me to also consider sales within the Surfside Colony neigbborhood which is adjacent north. Although the subject's immediate neighborhood is the beach front along Pacific Av, the general marketing area includes Huntington Harbor and Surfside Colony (Seal Beach). Living areas for sales over the past 2 years range from apx. 392 to 7,926 SF, average was apx. 3,092 SF. Lot areas were from 871 to 12,000 SF, average was apx. 5,286 SF. Days on the market was from 0 to 849 and the average was 97 days.  Sale/List price ratio was 94.98%. Of the 11 comps included in my report, the lowest sales price was: $2,275,000 | highest: $7,490,000 | mean: $3,769,353 and the median was: $3,300,000. After adjusting all 11 comps, the mean became: $5,189,794 | median became $5,069,900.

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