90804 Market Update

90804 Market Update: Real Estate Statistics and Information for the 90804 Areas of Long Beach, CA

Including the neighborhoods of Rose Park and Traffic Circle Area

With the exception of a peak of $575,000 in August 2015, home prices in 90804 are higher than they’ve been for several years. In January 2016, the median price of homes was $532,000, which reflects a 66.3% increase from the year prior in January. Last year, home prices surged in the summer months. If you are looking to buy a home in 90804 now is a good time to get a jump start.

The buying market in 90804 is competitive. Homes sold for 100% of the original asking price in January 2016, which is up slightly from the year prior in January.

Though Long Beach has low inventory right now, the supply of homes available in the 90804 neighborhoods is actually fairly balanced. In January 2016, there was a 3.2 months supply of homes available on the market. A balanced market means real estate is good for both buyers and sellers.

Condominiums in 90804

The price of condominiums in 90804 has slowly but mostly steadily increased since 2013.  In January 2016, the median sale price was $267,000, up 9% from the year prior.

Condos in 90804 have been selling for close to the list price.  In January 2016, the median percent of the original price received was 98.6%. This reflects a 2.9% increase in the list price to sales price ratio compared to the prior January.

In contrast to the supply of single family homes, the supply of condominiums in 90804 is very low. In January 2016, there was a 1.4 month supply of homes on the market, which is 56.5% lower than the year prior. Inventory has not been this low since 2013. If you are thinking about selling your condo, now is a great time if you hope to receive a high rate of return.

Bottom Line:

The real estate market in Long Beach is competitive. California is a hot destination for those looking to move and Long Beach continues to be an attractive city for home buyers. Due to the low inventory of condominiums in 90804, the market is favorable for sellers. However, for single family home buyers, the market is far more balanced.

Homes for Sale and In Escrow in 90804

About the Author

Shannon Jones has been selling real estate since 1998 and specializes in listing and marketing homes. She has consistently been one of the top Realtors in the Long Beach area. Prior to her award-winning career in real estate with the Shannon jones Team, Shannon has had successful careers in journalism and public relations. She holds a bachelors degree from UC Irvine and a masters degree from UC Berkeley. Shannon holds E-Pro, CDPE (Certified Distressed Property Expert), and PSC (Pre-Foreclosure Specialist) certifications. Shannon is very personable and maintains a very strong moral compass, always putting the best interest of home buyers/sellers above monetary goals. A California native, Shannon enjoys gardening, travel, reading, cooking and poker when she’s not selling homes MY DESIGNATIONS Lic# 01247705 | CDPE (Certified Distressed Property Expert) | E-Pro | PSC (Pre-Foreclosure Specialist) MY SERVICE AREAS Anaheim Bellflower Buena Park Carson Cerritos Cypress Downey Fountain Valley Garden Grove Huntington Beach La Palma Lakewood Long Beach Los Alamitos Los Angeles County Norwalk Orange County Rossmoor San Pedro Seal Beach Signal Hill South Bay Westminster

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