90803

90803 Market Update: August 2016

shannonjones Belmont Heights , Belmont Shore , Long Beach , Naples Island , Real Estate , Real Estate Market Update , Selling a Home Leave a Comment

August 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

After a peak at $1,179,000 in June, the median July 2016 home price was $955,000, 15.8% lower than it was last July.

The median sale price of single family homes in 90803 has fluctuated greatly in recent years, but continues to trend upwards despite the highs and lows over the months. 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 July 2016, the median home price in Long Beach was $577,000.

There were 81 active listings in June and July of 2016. This marks a 6.9% decrease from the year before.

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 June 2016, which reflects a 9.8% decrease from the year prior in July. Since February 2016, inventory has climbed in 90803, but has not reached anywhere near its peak in October 2014 of 5.7 months supply.

Condominiums in 90803

Condominium prices in Long Beach have fluctuated a lot in recent years, but appear to have found a norm over the last quarter. In July 2016, the median price of condos in 90803 was $448,500, which is a 6% drop from the year prior. Overall, condominium prices have improved since 2013.

Active listings have been increasing since March 2016 in 90803, briefly dropping in June before resuming their upward trend. There were 42 active listings in July 2016, which is an 4.5% decrease from the year prior in July.

Condominium inventory in Long Beach is overall around the same average as this area. In July 2016 there was a 3.4 month supply of condos, staying within the seller’s market range, but beginning to look good for buyers wanting to take advantage of low interest rates. Compared to a year ago in July, inventory has increased. However, in March 2016 there was just a 1.8 month supply, which is extremely low.

 

Recently Closed Sales in 90803

$4,295,000
For Sale
2
Beds
6
Baths
4,880
Sq Ft
6519 E Seaside Walk
Long Beach, CA 90803
Single Family Residence - Active
$4,250,000
For Sale
4
Beds
3
Baths
3,336
Sq Ft
150 Rivo Alto Canal
Long Beach, CA 90803
Single Family Residence - Active
$3,595,000
For Sale
4
Beds
4
Baths
3,900
Sq Ft
6302 E Bay Shore Walk
Long Beach, CA 90803
Single Family Residence - Active
$3,495,000
For Sale
4
Beds
2
Baths
5,409
Sq Ft
2934 E 1st Street
Long Beach, CA 90803
Single Family Residence - Active
$3,195,000
For Sale
3
Beds
2
Baths
2,830
Sq Ft
5625 E Sorrento Drive
Long Beach, CA 90803
Single Family Residence - Active
$3,150,000
For Sale
5
Beds
4
Baths
3,900
Sq Ft
6601 E Seaside Walk
Long Beach, CA 90803
Single Family Residence - Active
$2,795,000
For Sale
4
Beds
2
Baths
2,886
Sq Ft
5614 Naples Canal
Long Beach, CA 90803
Single Family Residence - Active
$2,795,000
For Sale
4
Beds
2
Baths
3,990
Sq Ft
51 58th Place
Long Beach, CA 90803
Single Family Residence - Active
$2,698,000
For Sale
3
Beds
2
Baths
2,220
Sq Ft
5821 E Corso Di Napoli
Long Beach, CA 90803
Single Family Residence - Active
$2,598,000
For Sale
3
Beds
1,815
Sq Ft
5477 E Sorrento Drive
Long Beach, CA 90803
Single Family Residence - Active
$2,575,000
For Sale
4
Beds
3
Baths
2,602
Sq Ft
5649 E Sorrento Drive
Long Beach, CA 90803
Single Family Residence - Active
$2,490,000
For Sale
3
Beds
3
Baths
2,265
Sq Ft
102 Rivo Alto Canal
Long Beach, CA 90803
Single Family Residence - Active
$2,385,000
For Sale
3
Beds
2
Baths
2,650
Sq Ft
42 Rivo Alto Canal
Long Beach, CA 90803
Single Family Residence - Active
New Listing - 11 hours online
$1,995,000
For Sale
5
Beds
4
Baths
2,933
Sq Ft
47 Angelo Walk
Long Beach, CA 90803
Single Family Residence - Active
$1,885,000
For Sale
3
Beds
3
Baths
3,663
Sq Ft
6063 Lido Lane
Long Beach, CA 90803
Single Family Residence - Active
New Listing - 3 weeks online
$1,878,800
For Sale
4
Beds
4
Baths
4,589
Sq Ft
121 Geneva
Long Beach, CA 90803
Single Family Residence - Active
$1,799,900
For Sale
3
Beds
2
Baths
3,448
Sq Ft
219 Prospect Avenue
Long Beach, CA 90803
Single Family Residence - Active
New Listing - 4 days online
$1,795,000
For Sale
3
Beds
3
Baths
3,005
Sq Ft
239 Saint Joseph Avenue
Long Beach, CA 90803
Single Family Residence - Active
$1,750,000
For Sale
7
Beds
5
Baths
4,027
Sq Ft
139 Lindero Avenue
Long Beach, CA 90803
Single Family Residence - Active
$1,650,000
For Sale
3
Beds
2
Baths
2,307
Sq Ft
338 Blue Cavern
Long Beach, CA 90803
Single Family Residence - Active
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