90804 Market Update: August 2016

shannonjones Long Beach , Long Beach Condos , long beach homes , Real Estate Market Update , Rose Park Leave a Comment

August 2016 Real Estate Market Update for the 90804 Area of Long Beach

Including the neighborhoods of Rose Park and Traffic Circle Area

The median home price in 90804 was 38.1% higher in July 2016 than a year ago, and marks a new high in a three year period. Home prices have fluctuated in the area, but the general trend appears to be an increase.

There were 12 closed home sales in 90804 in July 2016. Though there were just two closed sales in February, since then the number has climbed substantially. While the number of closed sales have fluctuated a lot in recent years, the number of closed sales in July 2016 was 33.3% increase from the previous July.

The inventory of homes for sale has increased in 90804, likely due to increasing property value. In July 2016 there was a 3.5 month supply of homes for sale, representing a 6.3% increase from the previous year. The market in these neighborhoods tends to fluctuate strongly, so we may see another decrease occur soon as seen in the fall of 2015.

Condominiums in 90804

The price of condominiums in 90804 increased from June to July of 2016. The median condo price in July was $305,000, which reflects the same value as July of last year. However, overall value continues to trend upwards with spikes in value.

There were 9 closed condominium sales in June 2016. Low inventory in the area may indicate that there simply were fewer homes for buyers to close on. An increase in properties towards the end of July will open the door for more potential closed sales.

Condominiums for sale in this area have seen a reduced number of days on the market from June to July 2016 at 44 days, indicating new listings are going quickly. This is surprisingly still 7.3% faster than the previous year, which took 41 days on average.

Bottom Line

Despite a brief slowing of sales, the 90804 area continues to exhibit strong sales and real estate appreciation in the greater Long Beach area. With few homes on the market, there is a high demand from buyers for this increasingly trendy neighborhood. If you’re thinking about putting your home on the market, give us a call or fill out the form and we’d be happy to help!

Homes Recently Sold in 90804

  1. 2 beds, 1 full bath
    Home size: 914 sq ft
    Lot size: 3,631 sqft
    Year built: 1947
    Parking spots: 4
  2. 2 beds, 1 full bath
    Home size: 790 sq ft
    Lot size: 3,130 sqft
    Year built: 1923
    Parking spots: 2
  3. 3 beds, 2 full baths
    Home size: 1,486 sq ft
    Lot size: 6,750 sqft
    Year built: 1955
    Parking spots: 4
  4. 3 beds, 1 full, 1 three-quarter baths
    Home size: 1,576 sq ft
    Lot size: 6,460 sqft
    Year built: 1921
    Parking spots: 4
  5. 2 beds, 2 full baths
    Home size: 1,056 sq ft
    Lot size: 3,368 sqft
    Year built: 1923
    Parking spots: 1
  6. 2 beds, 1 full bath
    Home size: 1,026 sq ft
    Lot size: 5,965 sqft
    Year built: 1954
    Parking spots: 3
  7. 3 beds, 2 full baths
    Home size: 1,306 sq ft
    Lot size: 4,183 sqft
    Year built: 1951
    Parking spots: 4
  8. 1 bed, 1 full bath
    Home size: 672 sq ft
    Lot size: 2,493 sqft
    Year built: 1923
    Parking spots: 3
  9. 3 beds, 3 full baths
    Home size: 2,611 sq ft
    Lot size: 6,400 sqft
    Year built: 1937
    Parking spots: 4
  10. 3 beds, 2 full baths
    Home size: 1,402 sq ft
    Lot size: 5,009 sqft
    Year built: 1926
    Parking spots: 4

See all Real estate in the 90804 zip code.
(all data current as of 4/30/2017)

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

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Shannon Jones has been helping home buyers and sellers in and around Long Beach since 1998.

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