September Market Update for the 90803 area of Long Beach, CA.
Real Estate Statistics for Belmont Shore, Belmont Park, Belmont Heights, Naples, the Peninsula, Bluff Park, Bluff Heights, Spinnaker Bay and Cove, University Park Estates, and Bixby Village.
The number of closed sales on single family homes in 90803 has been falling since the beginning of summer, resulting in only 14 closed homes in August. This is 41.7% lower than this time last year.
The months supply in inventory, however, has been rising for the past few months. There is currently a 4.9 months supply of single family homes in 90803.
Median sales prices in 90803 peaked a few times during the summer, but dropped a bit in August to $984,500. This is nearly $200K more than the median home price in August 2014.
The median days on market has also dropped this month to an average of 59. This is 15.7% less than this time last year.
90803 Condos
Condo sales in 90803 had been dropping most of summer, but were on the rise again in August, with 18 closed sales. This is 125% higher than August of 2014.
Median sales prices for condos have been rising over 2015, but took a slight drop in August. The current median sales price is $445,000, which is down $77,000 from July.
Months supply of inventory of condos in 90803 has been dropping most of 2015, and is currently only at 2.6. This is 29.7% lower than this time last year.
A great time for buyers and sellers!
This is the type of market that is perfect for both buyers and sellers. Demand is high, supply is low, and prices are competitive. If you’re thinking of selling your home or condo in 90803 and are wondering what it might be worth, take a minute to fill out this form below and we’d be happy to help!
To see how 90803 compares with the rest of Long Beach, click here for the full Market Update.
