How Does the Real Estate Market Look for 90804?
Though the median home sales price in 90804 has taken a couple dips in 2005, it seems that home prices in 90804 are back on the rise. In July 2015, the median sales price was $425,000, which is a $2,000 increase from June and $105,000 higher than it was in January 2015.
Meanwhile the inventory of homes for sale in 90804 remains relatively low. In June of 2015, the inventory of homes for sale was at 2.3 months, significantly below the 4.4 month supply the area experienced in May. For July, inventory went up slightly, to a 2.5 month supply, still a low number from a historical perspective, and still creating what we would consider a “seller’s market.”
While most of Long Beach has experienced home sales prices very close to the list price, 90804 saw a major dip in July of the median percentage of original price to sales price, dropping from 100% to just over 92%.
Condos on the other hand, remained at a median percentage of listing price to sales price of about 100%.
The median sales price for condos in 90804 has been climbing steadily for months. The median condo sales price for July 2015 was $305,000, which is by far the highest median price in years.
Wondering how the 90804 Real Estate Market is doing compared to the rest of the city? Click here to see the full Long Beach Market Update.