90803 Market Update

90803 Market Update: October 2016

shannonjones Belmont Heights , Belmont Shore , Long Beach Real Estate , Real Estate , Real Estate Market Update Leave a Comment

October 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

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. September 2016 saw a sharp upswing in value for this area, going from $992,500 in August to $1,217,500 as the median sales price for single family homes in 90803. This is the highest point it has reached since January of 2014.

There were 81 active listings in September 2016, which marked an upswing in available single family homes for the area. This marks an 8% increase in available properties from the same time last year in September 2015.

Though inventory in Long Beach is very low, the supply of homes for sale in 90803 is fairly balanced between seller and buyer compared to the rest of the county. There was a 4.8 month supply of homes on the market in September 2016, which reflects a 14.3% increase from the year prior in September. Inventory for single family homes in this area is typically higher priced than the rest of Long Beach, which could contribute to the greater number of available properties.

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 September 2016, the median price of condos in 90803 was $453,500, which is a 2% increase from the year prior.

The number of new listings decreased in 90803, dropping from 17 in August to 15 in September. This is three less new listings than were present in September 2015.

Condominium inventory has been on the rise since January, when it hit its lowest point of 1.5 months of available inventory. In September 2016 there was a 3.7 month supply of condos, staying within the seller’s market range, but beginning to turn towards favoring buyers again. As the winter time is typically a good time to buy, this follows the usual market trends.

Overall in comparison to the rest of the city, the inventory for both condominiums and single family houses is well within range of the seller’s market, but is also reasonable to buyers as well. Home values for single family homes are at a high for the year, which we anticipate dropping off soon in favor of the holidays. Fall and winter frequently mark a time of fewer but faster sales as buyers who didn’t see their new home in the summer continue looking to purchase.

Homes For Sale in 90803

$6,888,000
For Sale
6
Beds
1
Baths
6,900
Sq Ft
2 60th Place
Long Beach, CA 90803
Single Family Residence - Active
$4,500,000
For Sale
4
Beds
4
Baths
3,900
Sq Ft
6302 E Bay Shore Walk
Long Beach, CA 90803
Single Family Residence - Active
New Listing - 4 weeks online
$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
$3,999,999
For Sale
2
Beds
6
Baths
5,000
Sq Ft
6519 E Seaside Walk
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
$3,495,000
For Sale
5
Beds
4
Baths
4,575
Sq Ft
2401 E Ocean Boulevard
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
$2,999,999
For Sale
6
Beds
4
Baths
5,397
Sq Ft
211 Quincy Avenue
Long Beach, CA 90803
Single Family Residence - Active
$2,975,000
For Sale
4
Beds
2
Baths
3,990
Sq Ft
51 58th Place
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
$2,698,000
For Sale
3
Beds
2
Baths
2,220
Sq Ft
5821 E Corso Di Napoli
Long Beach, CA 90803
Single Family Residence - Active
$2,688,000
For Sale
4
Beds
3
Baths
2,880
Sq Ft
77 Rivo Alto Canal
Long Beach, CA 90803
Single Family Residence - Active
$2,650,000
For Sale
4
Beds
3
Baths
4,100
Sq Ft
2525 E Ocean Boulevard
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
$1,998,000
For Sale
4
Beds
4
Baths
4,589
Sq Ft
121 Geneva Walk
Long Beach, CA 90803
Single Family Residence - Active
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