LONG BEACH REAL ESTATE REPORT
The Long Beach real estate market continues on a healthy note. The median list price is $559,000 and the average home has been on the market for 82 days. In the past month, there have been 206 real estate transactions in Long Beach, with a median sale price of $519,950. The recent sales activity in Long Beach represents a +13.0% change over the prior month.
There are currently 698 Long Beach homes for sale, which equals about 3.4 months of inventory creating opportunities for buyers that were once on the fence.
There are 361 detached homes for sale, 21 townhouses for sale, and 200 condos for sale. In the past 30 days, there have been 325 new listings in Long Beach, 169 price changes, 158 new contracts, and 206 home sales. Visit the Long Beach real estate news blog for more information.
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For a detailed look at the actual Long Beach Housing numbers click on the individual links for a year to date as it compares to the historical numbers.
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Days on Market
Months of Supply
Median Price Per Square Foot
Percentage of List Price
Percentage of Original Price
Final Median Sales Price
If you have toyed with the idea of selling NOW is the time and here are the reasons why. We are in the thick of an exciting period of home buying and selling, often with quick multiple offers that are near, at or even above asking price, depending on the factors of the home and submarket in question. It was widely predicted that we would see healthy sales activity during the second quarter of 2016, and the market has not disappointed.
New Listings were up 1.0 percent for Single Family homes and 2.8 percent for Townhouse-Condo properties. Pending Sales increased 20.3 percent for Single Family homes and 10.2 percent for Townhouse-Condo properties.
The Median Sales Price was up 6.3 percent to $643,000 for Single Family homes and 3.1 percent to $400,000 for Townhouse-Condo properties. Months Supply of Inventory decreased 24.2 percent for Single Family units and 21.4 percent for Townhouse-Condo units.
Although inventory is still being stretched thin in many areas, low mortgage rates coupled with higher wages have built a relatively sturdy housing marketplace. How long that can continue without fresh supply remains an important question, but conditions are seemingly good enough for serious buyers. With the current slow state of new construction for non-rental households, the road ahead could be tricky if demand remains high. PWR_FSS_2016-05 lender mediated