90802 Real Estate Market Update

90802 Real Estate Market Update

shannonjones Long Beach , Long Beach Condos , long beach homes , Long Beach Real Estate , Real Estate , Real Estate Market Update Leave a Comment

90802 Real Estate Market Update
October 2015

Including the neighborhoods of Downtown, East Village, and Alamitos Beach.

 

90802 Condos

The number of closed sales of 90802 condos has jumped around a bit this year, and dropped to 40 sales this past month. This, however, is still 14.3% higher than this time last year.

 

Median sales prices for 90802 condos has been up and down over the last year, and September was a month where the price dropped a bit. Currently the median sales price is at $289,500. That price is down $10,500 from the previous month yet still 4.9% higher than this time last year.

 

Condos in this area of Long Beach are very desirable due to their close proximity to the beach and to all of the downtown amenities. Because of their popularity, it comes as no surprise that the inventory of condos for sale in 90802 has been declining over the past year. Currently the inventory is at a 2.8 months supply, which is 47.2% lower than this time last year.

 

90802 Homes

Home sales in 90802 are known for jumping around a bit, but the numbers have stayed consistent for the second month in a row. This September, there were 5 closed sales of 90802 single family homes.

 

The inventory of 90802 homes dropped drastically this past month, landing at 2.9 months supply. This is down from a 4.5 months supply in August.

 

Median sales price for single family homes, however, followed the opposite trend. The price jumped dramatically from $110,000 in August to $327,000 in September. Surprisingly though, this is still 32.6% lower than the prices last year.

 

The median number of days on market in this area has been a bit sporadic this past year, but dropped slightly to an average of 36 days on market. This is down 41% from last year.

 

This is a great market for both buyers and sellers!

Whether you’re looking to buy or looking to sell in the 90802 area, there are current market trends that will benefit both sides of the spectrum! Contact us today at 562.896.2456 and we’d be happy to help you with any of your real estate needs.

 

Want to see how 90802 compares with Long Beach as a whole? Find out now!

Homes for Sale in 90802

New Listing - yesterday
$1,450,000
For Sale
2
Beds
2
Baths
2,872
Sq Ft
800 E Ocean Boulevard #1508
Long Beach, CA 90802
Condo - Active
$1,390,000
For Sale
2
Beds
2
Baths
2,310
Sq Ft
488 E Ocean Boulevard #P14
Long Beach, CA 90802
Condo - Active
$1,350,000
For Sale
614 Lime Avenue
Long Beach, CA 90802
Townhouse - Active
New Listing - 3 weeks online
$1,250,000
For Sale
2
Beds
2
Baths
1,587
Sq Ft
850 E Ocean #1604
Long Beach, CA 90802
Condo - Active
About the Author