Bluff Park, Long Beach, CA

Long Beach Real Estate Update – August 2015

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

What’s the latest with the Long Beach real estate market?

After five months of increases, the median home price in Long Beach dropped a little in July 2015. Yet at $520,000, the median price of a single family home in Long Beach is still 9.5% higher than in July 2014.

Closed sales last month were also slightly down from the previous month, but up from July 2014. A total of 228 single family homes sold last month, up 15.2% from the previous year.

 


Available homes for sale in Long Beach declined last month to 438, 25.4% below the same time last year and the lowest Long Beach has seen since March 2013. That represents a 2.3 month supply of homes for sale.

 

Homes are selling reasonably quickly in Long Beach. The median time on the market in July 2015 was 41 days, down 8.9% from July 2014.

Condo Real Estate Market in Long Beach

Meanwhile, condo prices in Long Beach have also been appreciating. In July 2015, the median price for a condo  in Long Beach was $311,000, up 6.9% from July 2014.

 

The inventory of condos for sale in Long Beach is just under 3 months.

Wondering what your home is worth? Give us a call at 562.896.2456 and we’d be happy to provide you with a comparative market analysis (CMA) or simply fill out the form below.

Free Home Evaluation

The value of your home has most certainly changed since you bought it! Take a few seconds to fill out the form below and we'll prepare an expert market analysis of your home at no cost!
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