90802 Market Update: August 2016

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90802 Market Update: Real Estate Statistics and Information for the 90802 Areas of Long Beach, CA

Including the Neighborhoods of Downtown, East Village, and Alamitos Beach

Home prices in 90802 have had an interesting ride so far this year, having started low in January of 2016 before rising abruptly in the spring. July 2016 showed some slowed growth after period of high growth in spring, with the average home price sitting at $378,581.

Active listings for single family homes for sale in 90802 continue to be relatively low in comparison to demand. July marks a return to the average high for 90802 since 2015, with a dramatic rise in comparison to May and June of 2016, showing a 350% growth.

Inventory for the region has increased, but is presently lower than Long Beach as a whole. Inventory drastically decreased after March, hitting a low at 0.7 months available. July marked an increase to 2.4 months of inventory. This reflects a 20% decrease from the same time last year, when 3 months of available inventory was on the market.

Condominiums in 90802

The bulk of housing for sale in 90802 consists of condominiums. The median price of condos has increased about $100,000 over the past three years. The median price reached a peak of $375,000 in April of this year before dropping in the summer. In July 2016, the median price of condos was $299,000, which is up 8.33% from July 2015.

The number of active condo listings for sale has dramatically risen from February’s 105 active listings to 162 in July.

Increased condominium inventory was seen recently in 90802 . In July 2016 there was a 4 month supply of condos on the market in this region. A 4-6 month supply of homes is considered balanced between sellers and buyers so the current market is balanced for sellers and buyers alike.

A Varied Playing Field

Single family homes continue to be within a seller’s market, making it a good time to sell if you’re thinking about it. By contrast, now may be a good time to look at condominiums in the area if you were looking at the Downtown, East Village, and Alamitos Beach neighborhoods. With low interest rates making mortgages more accessible for first-time buyers, it’s a good time to get your feet wet.

Condos For Sale in 90802

  1. 2 beds, 1 bath
    Home size: 730 sq ft
    Lot size: 22,563 sqft
    Year built: 1958
    Days on market: 3
  2. 1 bed, 1 bath
    Home size: 680 sq ft
    Lot size: 2.77 ac
    Year built: 2004
    Days on market: 3
  3. 1 bed, 1 bath
    Home size: 600 sq ft
    Lot size: 2.77 ac
    Year built: 2004
    Days on market: 3
  4. 2 beds, 2 baths
    Home size: 794 sq ft
    Lot size: 7,517 sqft
    Year built: 1988
    Days on market: 4
  5. 0 beds, 1 bath
    Home size: 1,525 sq ft
    Lot size: 23,243 sqft
    Year built: 1929
    Days on market: 4
  6. 1 bed, 1 bath
    Home size: 640 sq ft
    Lot size: 21,096 sqft
    Year built: 1922
    Days on market: 5
  7. 2 beds, 2 baths
    Home size: 1,020 sq ft
    Lot size: 2.77 ac
    Year built: 2004
    Days on market: 5
  8. 1 bed, 1 bath
    Home size: 661 sq ft
    Lot size: 10,623 sqft
    Year built: 1959
    Days on market: 5
  9. 1 bed, 1 bath
    Home size: 705 sq ft
    Lot size: 7,476 sqft
    Year built: 1924
    Days on market: 5
  10. 2 beds, 2 baths
    Home size: 1,400 sq ft
    Lot size: 1.59 ac
    Year built: 1992
    Days on market: 5

See all Real estate in the 90802 zip code.
(all data current as of 10/23/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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