Mid-Year 2015 Real Estate Review for 90802
Since the beginning of the year, average home sales prices in the 90802 area of Long Beach have slowly been on the rise, but the past couple months reversed that trend. Sales prices are averaging $273,000 in June 2015, which is down $59,000 from May and $80,000 from April 2015.
The monthly supply of inventory in June was up slightly from May, and is now at the same amount as in April of this year.
The number of closed sales is also on the rise. In June 2015, there were 6 closed sales, which is up from 5 in May and 3 in April. This, however, is still lower than June of last year, which had 8 closed sales.
The average percentage of original listing price to sales price has had quite a big jump. After the lowest numbers of 2015 recorded in May (at 89.6%), the average percentage is now back up to 96%.
Condo Sales Activity
Much of the downtown Long Beach housing inventory consists of condominiums and the condo market has been very active so far in 2015 with sales steadily increasing and prices slowly trending up.
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