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

  1. 3 beds, 2 full baths
    Home size: 1,186 sq ft
    Lot size: 4,499 sqft
    Year built: 1923
  2. 3 beds, 2 full, 1 half baths
    Home size: 1,446 sq ft
    Lot size: 3,331 sqft
    Year built: 1996
    Parking spots: 4
  3. 3 beds, 1 full bath
    Home size: 1,572 sq ft
    Lot size: 7,194 sqft
    Year built: 1942
  4. 2 beds, 2 full baths
    Home size: 1,330 sq ft
    Lot size: 4,800 sqft
    Year built: 1920
    Parking spots: 1
  5. 2 beds, 2 full baths
    Home size: 804 sq ft
    Lot size: 2,857 sqft
    Year built: 1923
    Parking spots: 1
  6. 2 beds, 2 full baths
    Home size: 1,075 sq ft
    Lot size: 4,503 sqft
    Year built: 1947
    Parking spots: 2
  7. 2 beds, 1 full bath
    Home size: 1,274 sq ft
    Lot size: 6,439 sqft
    Year built: 1941
    Parking spots: 2
  8. 4 beds, 2 full baths
    Home size: 2,084 sq ft
    Lot size: 5,464 sqft
    Year built: 1924
    Parking spots: 1
  9. 2 beds, 1 full bath
    Home size: 792 sq ft
    Lot size: 1,995 sqft
    Year built: 1923
    Parking spots: 1
  10. 2 beds, 2 full baths
    Home size: 1,221 sq ft
    Lot size: 5,200 sqft
    Year built: 1923
    Parking spots: 1

See all Real estate in the 90804 zip code.
(all data current as of 4/24/2017)

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

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shannonjones

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

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