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 …

90814 real estate

90814 Real Estate Update

shannonjones Real Estate Leave a Comment

The median home price in 90814 increased to $750,000 in June 2015, 13% above last June but still below the spike to $875,000 earlier this year. Closed home sales meanwhile were at the highest point all year in 90814 and 30% above this time last year. The number of new listings in 90814 was down from the previous month, but up from this time next year. However, with increased demand, the available supply of homes remained low, with an inventory of just two months worth of homes for sale in 90814. Recent Home Sales in 90814 Homes Under Contract in …

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 …

Long Beach real estate

Long Beach Real Estate Mid-Year Update

shannonjones Featured Articles , Long Beach Real Estate , Real Estate Leave a Comment

Mid-way through 2015, the Long Beach real estate market remains hot, driven in large part by an increase in prices and demand coupled with a decline in inventory. Other than a dip in April, median home prices in Long Beach have been climbing all year, increasing to $562,500 in June, up 14.5% from June 2014.   Closed sales fell earlier this year but made up ground in the past couple months, with 238 houses selling in June 2015, a 47.8% increase over June 2014.   And although new listings in June were higher than they have been all year, with …

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 …

Long Beach real estate

Long Beach Real Estate Market Update

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Long Beach Real Estate Market Heats Up Home sales were up and the supply of homes for sale continued to decline last month in Long Beach.  Homes that are priced well, show well and are effectively marketed are selling very quickly and multiple offers are becoming more and more common. Closed sales hit their highest peak in Long Beach last month since October 2014, with 223 single family homes sold. We expect even more closed sales in the months to come since pending sales spiked significantly last month, up to 264 from 170 the previous month.   New listings in …

150 The Promenade, Long Beach CA

150 The Promenade N. #415

Shannon Featured Properties

SOLD! Insulated from the downtown hubbub with double-paned windows and solidly built walls, you can choose to chill out on the large balcony and gaze at city lights and iconic architecture or put on your party pants and head out on foot to grab five-star food and lavish libations all within your city block. Built in 2008, beautiful condo in the modern-meets-industrial Pacifica building is filled with luminous light, 10-foot ceilings, bay windows, tile floors, recessed lighting, in-unit laundry, air conditioning, double sinks in the master, and TWO parking spaces! The round formal foyer with a mosaic floor is one of …

Pricing Your Home

What is your Long Beach home worth?

Shannon Featured Articles

Can you guess what your Long Beach home is worth? Prices in Long Beach CA went up more than 20 percent in 2013, and some neighborhoods increased more than others. Many people have a vague idea of what their home is worth. For an instant, 100 percent free valuation of your home simply click on the photo below and follow a few simple steps. An instant valuation of your home will give you a good idea of what your home might sell for in today’s market but is not a substitute for a comprehensive market evaluation by an experienced local …

Lovely garden in Long Beach CA

Even in a Seller’s Market, Not All Homes Sell

Shannon Featured Articles , Selling a Home

Even in a seller’s market, NOT all homes sell, and the ones that do sell don’t all sell for top dollar. Last month, the average percent of list price received by Long Beach sellers was 100.4 percent of list price, compared to 97.4 percent the previous June, according to figures from the Multiple Listing Service (MLS). We had one listing that sold for 115 percent of list price but many sold for well below their listing price. What makes the difference between a home that sells quickly for top dollar and one that sits, languishing on the market? Pricing strategy …