Are home values at record highs

Are Home Values At Record Levels?

shannonjones Featured Articles , Long Beach Real Estate , Real Estate , Real Estate Market Update , Seal Beach Real Estate , Signal Hill Leave a Comment

Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report. The report announced that the median existing-home price in June was $236,400. That value surpasses the peak median sales price set in July 2006 ($230,400). This revelation created many headlines exclaiming that home prices had hit a “new record”: Wall Street Journal:   Existing-Home Prices Hit Record USA Today:   Existing home sales surge, prices hit record Though the headlines are accurate, we want to take a closer look at the story. We do not want people to believe that this information is evidence that a new “price …

Hot summer market

Home Sales Hot This Summer

shannonjones Featured Articles , Real Estate , Real Estate Market Update Leave a Comment

People always talk about the “spring buying season” when they talk real estate. However, this year it appears as though the summer real estate market will be just as hot. The most recent Foot Traffic Report released by the National Association of Realtors (NAR) revealed that there are more buyers out looking at homes right now than at any other time in the last two years including the past two springs (in orange below). The Foot Traffic Report is compiled from data on the number of properties shown by Realtors. NAR further explains: “Foot traffic has a strong correlation with …

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90802 Real Estate Market Update

shannonjones City of Long Beach , Downtown Long Beach , Long Beach Real Estate , Real Estate , Real Estate Market Update Leave a Comment

Mid-Year 2015 Real Estate Review for 90802   Since the beginning of the year, average home sales prices in the 90802 area of Long Beach have slowly been on the rise, but the past couple months reversed that trend. Sales prices are averaging $273,000 in June 2015, which is down $59,000 from May and $80,000 from April 2015.   The monthly supply of inventory in June was up slightly from May, and is now at the same amount as in April of this year.   The number of closed sales is also on the rise. In June 2015, there were …

90803 real estate

90803 Real Estate

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

While median home prices in Long Beach overall overall increased 14.5% between June 2014 and 2015, median home prices fell 5% during that same time period in 90803, going from $1,065,000to $1,011,500.   Closed home sales in 90803 in June 2015 were at their highest point in several years, up more than 100% from the same month last year. New listings in 90803 were down from last June but at their highest point so far for 2015. As a result, the inventory of homes for sale in 90803 climbed a bit in June 2015. Although it’s still below the inventory …

Craftsman bungalows

90804 Real Estate Market Update

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

Mid-Year 2015 90804 Real Estate Review Prices have been somewhat volatile so far this year in the 90804 area of Long Beach. As of June 2015, the median home price was $423,000, up about $100K from January 2015 but only 3.7% above June 2014. The volume of home sales in 90804 has also been somewhat sporadic. With 10 homes closing escrow in June 2015, that was a 400% increase from the previous June but still below the peak of 13 closed sales in April. There are fewer homes on the market now than there were last summer as well, just …

Wrigley

Wrigley Mid-Year Real Estate Update

shannonjones Real Estate , Real Estate Market Update , Wrigley Leave a Comment

After a dip in May, the median home price in Wrigley climbed in June 2015 to $437,500, its highest level so far this year. Wrigley home price appreciation has lagged behind the overall trend in Long Beach, however.   The inventory of homes for sale in Wrigley has been in decline each month this year and continued that trend last month, dipping to a 1.6 month supply of homes for sale. In comparison, Long Beach overall has a 2.6 month supply of homes for sale.     The low inventory contributed to speedy sales in June 2015, with Wrigley’s closed …

Lakewood Village

Lakewood Village Real Estate Update

shannonjones Lakewood Village , Long Beach , Real Estate , Real Estate Market Update Leave a Comment

Mid-Year Review of the Lakewood Village Real Estate Market The real estate market in Lakewood Village has been somewhat volatile compared to Long Beach overall.  The median home price in Lakewood Village in June 2015 was $590,000, up slightly from the previous month and $70,000 above last June’s median price of $520,000 but considerably lower than the January spike to a median price of $765,000.   The median price per square foot for homes sold in June 2015 was  $345 in June 2015, up slightly from $337 per square foot in June 2014, but down from the previous month, and slightly …

Belmont Heights Historic District

3524 E. 6th Street

shannonjones Buying a Home , California , City of Long Beach , Featured Articles , Featured Properties , Long Beach , Real Estate , Real Estate Market Update Leave a Comment

Classic Spanish Belmont Heights Home 3524 E. 6th St., Belmont Heights Historic District, Long Beach In Escrow & Accepting Backup Offers! Classic Spanish home in the Belmont Heights Historic District offers a great blend of charming original architectural details and thoughtful updates. The turreted entryway leads to a spacious living room with coved ceilings, quarter-sawn red oak floors, and a mock fireplace. A scalloped archway leads to the formal dining room, amply sized for dinner parties. The kitchen has been remodeled and features beautiful soapstone counters, a subway tile back splash, and a dishwasher with custom cabinetry front. Another scalloped …

Long Beach real estate market

Long Beach Real Estate Update – June 2015

shannonjones City of Long Beach , Featured Articles , Long Beach Real Estate , Real Estate , Real Estate Market Update Leave a Comment

Long Beach Real Estate Market Remains a “Seller’s Market” Potential home sellers take note: The real estate market in Long Beach is still a strong seller’s market. The inventory of homes for sale in May 2015 was down to a 2.2 month supply and the average sales price for a single family home was $588,640. The average price per square foot for homes sold in May 2015 was $399, up from $378 the previous month and from $362 a year ago. Condo prices have also been increasing, with the average sales price in May 2015 at $356,670. The average sales …

90804 real estate

90804 Real Estate Report May 2015

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

90804 real estate is hot right now. Single family home sales in 90804 were up last month to the highest level in the past three years. New listings were also slightly up, increasing the inventory of homes for sale in 90804 to a 3.2 month supply. That level of supply means the area is still experiencing what’s known as a “seller’s market.”     The median home sales price in 90804 in April 2015 was $467,950, up $83,950 from April 2014. Median home prices in 90804 remained a little lower than in Long Beach overall.   The average home sales …