90802 september

90802 Market Update: September 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

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 5 new listings in August 2016, this maintains the same number of new listings as the month prior, and is only one listing more than August 2015.

Active listings for single family homes for sale in 90802 continue to be relatively low in comparison to Long Beach, but in August were much higher in number than they have historically been in a three year period. This is still only 10 this year in comparison to 7 from last year, which really speaks to the low number of single family homes near downtown and the surrounding neighborhoods.

Inventory for the region has increased, and is at its highest point since January 2016 at 3.7 months of inventory. While this is still technically a seller’s market, this combined with the number of available listings indicates it might be a good time for those looking to buy to revisit the area before inventory drops again.

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, but August marked another period of growth for home values. Coming in at a median of $325,000, this is a 6.5% growth from the same time last year in August.

The number of active condo listings for sale has shown growth through most of 2016, but finally hit a plateau in July and August at 144 active listings each month. With large amounts of competition, it is likely that some would-be sellers have chosen to wait out the current listings for a stronger time to sell.

Increased condominium inventory was seen recently in 90802 , but has stabilized between May through August 2016 at a 3.5 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. August 2015 had a 3.1 months supply, which marks a 12.9% increase from year to year.

Looks Good For Both Sides

Single family homes and condominiums in condominiums in 90802 are still technically within a seller’s market, but with high competition across multiple areas, this may be a good time to check out the options as a condo buyer 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.

Recent Sales in 90802

  1. 1 bed, 1 full bath
    Home size: 601 sq ft
    Lot size: 15,793 sqft
    Year built: 1959
  2. 2 beds, 2 full baths
    Home size: 909 sq ft
    Lot size: 6,757 sqft
    Year built: 1962
  3. 1 bed, 1 full bath
    Home size: 614 sq ft
    Lot size: 9,038 sqft
    Year built: 1955
    Parking spots: 2
  4. 1 bed, 1 full bath
    Home size: 781 sq ft
    Lot size: 8,226 sqft
    Year built: 1959
    Parking spots: 2
  5. 1 bed, 1 full bath
    Home size: 783 sq ft
    Lot size: 16,512 sqft
    Year built: 1963
  6. 2 beds, 1 full, 1 three-quarter baths
    Home size: 916 sq ft
    Lot size: 30,024 sqft
    Year built: 1990
    Parking spots: 4
  7. 2 beds, 1 full, 1 three-quarter baths
    Home size: 1,177 sq ft
    Lot size: 16,526 sqft
    Year built: 1977
    Parking spots: 2
  8. 1 bed, 1 full bath
    Home size: 910 sq ft
    Lot size: 1.38 ac
    Year built: 2006
    Parking spots: 2
  9. 2 beds, 1 full, 1 three-quarter baths
    Home size: 1,235 sq ft
    Lot size: 8,344 sqft
    Year built: 1922
    Parking spots: 4
  10. 2 beds, 2 full baths
    Home size: 960 sq ft
    Lot size: 3.10 ac
    Year built: 2004
    Parking spots: 4

See all Real estate in the 90802 zip code.
(all data current as of 5/24/2017)

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

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