September Market Update for the 90802 area of Long Beach, CA.
Real Estate Statistics for Downtown, East Village, and Alamitos Beach.
The number of closed home sales in the 90802 area have been a bit sporadic in the last year, but for the month of August, there were 5 closed sales, up from 4 in the month of July.
Though in Long Beach as a whole, the month’s supply of homes has gone down, the opposite has happened in 90802. Currently there is a 3.6 months supply of home, which is 33.3% higher than this time last year.
For the past several months, median home sales prices for 90802 have been falling. Currently the median sales price is at $120,000 and is the second lowest point of 2015.
Homes in Long Beach have been selling very quickly due to a hot market, and 90802 is no exception. The median days on market for single family homes was at 44 in August, down 22 days from June of this year.
Condos in 90802
The 90802 area of Long Beach is full of condos, many of which are in very desirable locations. It should come to no surprise then that closed sales for condos have been high most of 2015. In August there were 43 closed sales, up 26.5% from this time last year.
Median sales prices for condos have been climbing over the years, and this year is no exception. The median condo sales price for 90802 in August was $300,000, up 16.1% from this time last year.
Due to the popularity of 90802 condos, the months supply of inventory has been dropping all year, and is currently at 2.9. That is 46.3% less than last year’s supply.
A Perfect Market for Sellers
If you are thinking of selling your home or condo in 90802, now is the perfect time! Supply is low and demand is high. And so are the prices!
If you are curious about what your home is worth, take a few seconds to fill out the form below and we’ll prepare an expert market analysis of your home at no cost!
If you would like to see how 90802 compares to the rest of Long Beach, click here for the full Market Report.