90804 september

90804 Market Update: September 2016

shannonjones Long Beach , Long Beach Real Estate , Real Estate , Real Estate Market Update , Rose Park Leave a Comment

September 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 took a little dip from July  to August, with the average single family home costing $518,000. This is also a 9.9% decrease from the year following in August 2015. Housing in this area still remains strongly desirable in Long Beach, with great walkability and local resources, so if you’ve been eyeing this area as a buyer, it’s a good time to check out what’s available. The general trend for 90804 overall is of positive growth for home prices.

The median days that a house spent on the market was very low in August, sitting at 16 days on average. This indicates that the houses that listed towards the end of July and in August 2016 were quick to find buyers. In comparison to last August’s 37 day average, this is a substantial difference in interest.

The inventory of homes for sale has increased in 90804, likely due to the increased property value in July. In August 2016 there was a 4.2 month supply of homes for sale, which makes it a seller’s market but more fairly balanced towards a buyer than is typical. 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 decreased from July to August of 2016. The median condo price in July was $299,900, which reflects a higher value than August of last year by 5.8%. However, overall value continues to trend upwards with spikes in value.

There were 11 closed condominium sales in August 2016. The generally low inventory in the area for condominiums indicates there was stronger interest in August than July, but is still fairly middle ranged in comparison to the last three years.

Condominiums for sale in this area are low in supply, with only a 2.5 month supply overall. While this has increased since a low point in March 2016, the overall quantity is very low and marks a seller’s market even with a little extra competition.

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!

Recent Sales in 90804

New Listing - 3 days online
$7,000,000
For Sale
2333 E 5th Street
Long Beach, CA 90814
Other (OTHR) - Active
$1,899,000
For Sale
437 Newport Avenue
Long Beach, CA 90814
Quadruplex - Active
New Listing - 4 weeks online
$1,795,000
For Sale
5
Beds
5
Baths
3,815
Sq Ft
351 Havana Avenue
Long Beach, CA 90814
Single Family Residence - Active
$1,529,900
For Sale
4
Beds
3
Baths
3,337
Sq Ft
346 Havana Avenue
Long Beach, CA 90814
Single Family Residence - Active
$1,525,000
For Sale
4
Beds
3
Baths
3,258
Sq Ft
4740 E 5th Street
Long Beach, CA 90814
Single Family Residence - Active
$1,525,000
For Sale
4660 E Barker Way
Long Beach, CA 90814
Multi-Family - Active
$1,525,000
For Sale
364 Freeman Avenue
Long Beach, CA 90814
La Plaza Real (LPR) - Active
$1,429,000
For Sale
309 Park Avenue
Long Beach, CA 90814
Belmont Heights (BH) - Active
$1,269,000
For Sale
313 Temple Avenue
Long Beach, CA 90814
Quadruplex - Active
$1,235,000
For Sale
4
Beds
2
Baths
2,785
Sq Ft
5340 E 6th Street
Long Beach, CA 90814
Single Family Residence - Active
$1,225,000
For Sale
4
Beds
3
Baths
2,980
Sq Ft
5475 E Colorado Street
Long Beach, CA 90814
Single Family Residence - Active
$1,164,900
For Sale
3
Beds
3
Baths
2,781
Sq Ft
344 Calle Marseille
Long Beach, CA 90814
Single Family Residence - Active
$1,125,000
For Sale
4
Beds
3
Baths
2,524
Sq Ft
5735 Madrid Lane
Long Beach, CA 90814
Single Family Residence - Active
New Listing - 3 weeks online
$1,025,000
For Sale
3
Beds
2
Baths
2,487
Sq Ft
5729 Avenida Estoril
Long Beach, CA 90814
Single Family Residence - Active
New Listing - 4 days online
$995,000
For Sale
658 Coronado Avenue
Long Beach, CA 90814
Multi-Family - Active
New Listing - 16 hours online
$975,000
For Sale
4
Beds
2
Baths
2,566
Sq Ft
661 Roycroft Avenue
Long Beach, CA 90814
Single Family Residence - Active
New Listing - 2 weeks online
$949,900
For Sale
3
Beds
1
Baths
1,521
Sq Ft
655 Los Altos Avenue
Long Beach, CA 90814
Single Family Residence - Active
New Listing - 2 weeks online
$949,900
For Sale
3
Beds
1
Baths
2,248
Sq Ft
5681 Colorado Street
Long Beach, CA 90814
Single Family Residence - Active
New Listing - 3 weeks online
$899,000
For Sale
320 Redondo Avenue
Long Beach, CA 90814
Commercial/Residential - Active
New Listing - 4 weeks online
$849,000
For Sale
3
Beds
1
Baths
1,691
Sq Ft
345 Flint Avenue
Long Beach, CA 90814
Single Family Residence - Active

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