90803 Real Estate Market Update

90803 Real Estate Market Update
October 2015

Long Beach real estate information for Belmont Shore, the Peninsula, Naples, Belmont Park, Belmont Heights, Spinnaker Bay and Cove, and Bay Harbour

 

The number of closed sales for single family homes in 90803 has skyrocketed over the past month jumping to a record high (and tying with June 2015) of 26 closed sales.

 

Most likely due to the high number of closed sales, the months supply of inventory for 90803 single family homes dropped this past month, landing at 3.9. This is 29.1% lower than the inventory levels last year.

 

The median sales price for single family homes in the area has jumped around this past year, but seems to be slightly leveling out for the time being. The median sales price is currently at $977,500, which is 16% lower than this time last year, when the median sales price was over $1.1 million.

 

The median number of days on market has also jumped around a lot this past year, with last month’s average landing at 69 days. This is a slight increase from August, but is still 11.5% lower than this time last year.

 

90803 Condo Sales

Closed sales on condos in the 90803 area have increased for the second month in a row. In September there were 21 closed sales, which is 40% higher than this time last year and the second highest month of 2015.

 

The median sales price for 90803 condos saw a few spikes so far this year, but only saw a slight increase this past month. The median sales price is currently at $449,900, which is 4.1% higher than September 2014.

 

The months supply of inventory has been declining since early this year, most likely due to the high number of sales. The inventory levels in September stayed consistent with August at 2.7, which is the lowest inventory level of 2015.

 

Curious how 90803 compares to the rest of Long Beach? Click here to find out!

Homes for Sale in 90803

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