IMG_7207

90803 Market Update: June 2016

shannonjones Buying a Home , Long Beach , long beach homes , Long Beach Real Estate , Real Estate , Real Estate Market Update Leave a Comment

June 2016 Real Estate Market Update for the 90803 Area of Long Beach

The 90803 market update includes the neighborhoods of Belmont Shore, Belmont Park, Belmont Heights, Naples, the Peninsula, Bluff Park, Bluff Heights, Spinnaker Bay and Spinnaker Cove, University Park Estate, and Bixby Village

While May brought peak home prices for much of Long Beach, in 90803, the median May 2016 home price of $915,450 was 20.4% lower than it was last May.

The median sale price of single family homes in 90803 has fluctuated greatly in recent years. At $915,450 in May 2016, the median price has actually dropped 20.4% from a year ago in May. Fluctuations in price are not unusual in 90803 and home prices in the area are still substantially higher than for Long Beach overall. As of May 2016, the median home price in Long Beach was $565,000.

There were 78 active listings in May 2016. Though 90803 has experienced a lot of fluctuation in the number of active listings, the number is up 13% from May 2015 and up slightly from April 2016.

Though inventory in Long Beach is very low, the supply of homes for sale in 90803 is fairly balanced. There was a 4.3 month supply of homes on the market in May 2016, which reflects a 10.3% increase from the year prior in May. Since February 2016, inventory has climbed in 90803.

Condominiums in 90803

Condominium prices in Long Beach have fluctuated a lot in recent years. In May 2016, the median price of condos in Long Beach was $452,450, which is up 5% from the year prior in May.

Active listings have been increasing since March 2016 in 90803. There were 38 active listings in May 2016, which is an 8.6% increase from the year prior in May.

Condominium inventory in Long Beach is lower than the supply of single family homes. In May 2016 there was a 2.9 month supply of condos. Compared to a year ago in May, inventory has not changed. However, in March 2016 there was just a 1.8 month supply, which is extremely low.

Recently Sold Homes and Homes in Escrow in 90803

$5,170,000
For Sale
5465 E 2nd Street
Long Beach, CA 90803
Naples (NA) - Active Under Contract
$4,950,000
For Sale
5914 E Naples Plaza
Long Beach, CA 90803
Commercial/Residential - Active Under Contract
$2,650,000
For Sale
102 Pomona Avenue
Long Beach, CA 90803
- Active Under Contract
$1,599,000
For Sale
4
Beds
2
Baths
3,296
Sq Ft
3400 E 1st Street
Long Beach, CA 90803
Single Family Residence - Active Under Contract
New Listing - yesterday
$1,549,000
For Sale
3
Beds
3
Baths
2,376
Sq Ft
252 Roycroft Avenue
Long Beach, CA 90803
Single Family Residence - Active Under Contract
$1,475,000
For Sale
2
Beds
3
Baths
2,481
Sq Ft
5360 E Broadway
Long Beach, CA 90803
Single Family Residence - Active Under Contract
$1,449,000
For Sale
4
Beds
3
Baths
3,000
Sq Ft
28 W Neapolitan Lane
Long Beach, CA 90803
Single Family Residence - Active Under Contract
$1,250,000
For Sale
3
Beds
2
Baths
2,000
Sq Ft
44 Roycroft Avenue
Long Beach, CA 90803
Single Family Residence - Active Under Contract
$1,188,000
For Sale
2
Beds
1,288
Sq Ft
6119 E Seaside
Long Beach, CA 90803
Single Family Residence - Active Under Contract
New Listing - 4 weeks online
$1,110,000
For Sale
3
Beds
1
Baths
1,842
Sq Ft
107 Venetia Drive
Long Beach, CA 90803
Single Family Residence - Active Under Contract
$949,999
For Sale
2
Beds
1
Baths
1,008
Sq Ft
55 Via Di Roma Wk
Long Beach, CA 90803
Single Family Residence - Active Under Contract
$850,000
For Sale
3
Beds
2
Baths
2,090
Sq Ft
6097 Avenida De Castillo
Long Beach, CA 90803
Single Family Residence - Active Under Contract
$799,500
For Sale
3
Beds
2
Baths
1,588
Sq Ft
57 Argonne Avenue
Long Beach, CA 90803
Townhouse - Active Under Contract
$795,000
For Sale
2
Beds
1
Baths
1,118
Sq Ft
5400 E The Toledo #509
Long Beach, CA 90803
Condo - Active Under Contract
Short Sale
$750,000
For Sale
3
Beds
2
Baths
1,528
Sq Ft
5329 E Appian Way
Long Beach, CA 90803
Single Family Residence - Active Under Contract
New Listing - 4 weeks online
$725,000
For Sale
2
Beds
2
Baths
1,510
Sq Ft
2999 E Ocean Boulevard #1410
Long Beach, CA 90803
Condo - Active Under Contract
$689,000
For Sale
3
Beds
3
Baths
1,728
Sq Ft
631 Holbrook Court #102
Long Beach, CA 90803
Townhouse - Active Under Contract
New Listing - 2 weeks online
$669,000
For Sale
3
Beds
1
Baths
1,227
Sq Ft
29 Wheelhouse Court
Long Beach, CA 90803
Single Family Residence - Active Under Contract
$659,900
For Sale
2
Beds
2
Baths
1,571
Sq Ft
3601 E Ocean #2D
Long Beach, CA 90803
Condo - Active Under Contract
New Listing - 4 weeks online
$550,000
For Sale
1
Beds
1
Baths
1,171
Sq Ft
5326 N Marina Pacifica Drive N
Long Beach, CA 90803
Condo - Active Under Contract

Bottom Line

The real estate market in 90803 is hot right now! Whether you’re looking to buy or sell, now is a great time. If you’re thinking about putting your condo on the market, now is an especially good time as inventory is fairly low. If you’re thinking about buying or selling, give us a call or fill out the form below and we’d be happy to help!

Get More Information

 

About the Author