90802 market update

90802 Market Update: October 2016

shannonjones Downtown Long Beach , Long Beach Real Estate , Real Estate , Real Estate Market Update Leave a Comment

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

The average value for homes in 90802 increased in September 2016, with a median value of $500,000. In comparison to September 2015’s $415,000, this marks a 20% increase in value since last year, which is huge. As the number of single family homes in this region can be few and far between, historically this can be a somewhat volatile area to predict, so if you are planning to sell, be sure to ask a realtor about the property and things you can do to get top dollar.

The number of new listings per month for single family homes in 90802 has been varied this year, but still remains fairly low in comparison to other neighborhoods in Long Beach. At only 1 new listing in September 2016, this dropped from last month’s 5, but is still the same as last year in September 2015.

Inventory for the region has decreased in September 2016, making a dramatic jump from 3.7 in August to 1.5 months supply. This is deeply a seller’s market for single family homes, as the properties can be hard to come by. If you’re looking to sell in this area, you’re in a good position even being outside of the traditional sale period of spring and summer.

Condominiums in 90802

The bulk of housing for sale in 90802 consists of condominiums. The median price reached a peak of $375,000 in April of this year before dropping in the summer, and September marked another period of loss for home values in comparison to just the month before. Coming in at a median of $320,000, this is still a 10.5% growth from the same time last year in September.

The number of closed sales in 90802 has been high throughout the summer and going into the fall. With many options and great accessibility to Downtown at the beach, sales have been historically spiky but strong when they do come in. There were 49 closed sales in September 2016, 5 more than September 2015.

Increased condominium inventory was seen recently in 90802 , with a slight increase between August and September 2016 reached 3.1 months supply. While this is still very low for Long Beach as a whole, this is one of the high points over the last two years.

Opportunities to Sell and Buy

Single family homes and condominiums in condominiums in 90802 are still technically within a seller’s market, but with good inventory across multiple areas for condo buyers, this may be a good time to check out the options 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, the fall and winter could be your time to move forward as a first-time buyer.

Homes For Sale in 90802

  1. 2 beds, 2 full baths
    Home size: 920 sq ft
    Lot size: 34,912 sqft
    Year built: 1990
    Parking spots: 2
    Days on market: 1
  2. 0 beds, 1 full bath
    Home size: 1,463 sq ft
    Year built: 1929
    Parking spots: 2
    Days on market: 1
  3. 1 bed, 1 full bath
    Home size: 642 sq ft
    Lot size: 20,256 sqft
    Year built: 1962
    Parking spots: 2
    Days on market: 1
  4. 2 beds, 1 full, 1 half baths
    Home size: 964 sq ft
    Lot size: 7,466 sqft
    Year built: 1981
    Parking spots: 4
    Days on market: 1
  5. 2 beds, 1 full, 1 three-quarter baths
    Home size: 1,028 sq ft
    Lot size: 8,999 sqft
    Year built: 1982
    Parking spots: 4
    Days on market: 5
  6. 1 bed, 1 full bath
    Home size: 690 sq ft
    Lot size: 1.31 ac
    Year built: 1973
    Parking spots: 2
    Days on market: 7
  7. 2 beds, 2 full baths
    Home size: 820 sq ft
    Lot size: 7,421 sqft
    Year built: 1989
    Parking spots: 2
    Days on market: 8
  8. 2 beds, 2 full baths
    Home size: 908 sq ft
    Lot size: 1.25 ac
    Year built: 1991
    Parking spots: 4
    Days on market: 9
  9. 1 bed, 1 full bath
    Home size: 680 sq ft
    Lot size: 2.77 ac
    Year built: 2004
    Parking spots: 1
    Days on market: 10
  10. 2 beds, 2 full baths
    Home size: 1,239 sq ft
    Lot size: 1.38 ac
    Year built: 2006
    Parking spots: 4
    Days on market: 10

See all Real estate in the 90802 zip code.
(all data current as of 4/29/2017)

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

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Shannon Jones has been helping home buyers and sellers in and around Long Beach since 1998.

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