90803 Real Estate Market Update

January 2016 Real Estate Market Update for the 90803 Area of Long Beach, CA

90803 Real Estate Statistics and Information

Including the Neighborhoods of Belmont Shore, Belmont Park, Belmont Heights, Naples, the Peninsula, Bluff Park, Bluff Heights, Spinnaker, Bay and Cove, University Park Estates, and Bixby Village

Home prices in 90803 have shown periods of significant change since 2012, but the general trend shows that prices are rising. From December 2014 to December 2015, median home prices in 90803 increased just slightly. In December 2015, the median price of homes was $1,010,000, up 6.3% higher than in December 2014. Compared to home prices three years ago, this is a substantial increase.

While the median home price in 90803 increases slightly, the median price per square foot decreased slightly. In December 2015, the price per square foot averaged $524, down 2.6%  from December 2014.

There has been a dramatic decline in the supply of homes for sale in 90803 since 2012. Three years ago, the supply of homes on the market was close to seven months. In December 2015, the supply of homes was 3.9 months, which 11.4% below December 2014. Though there has been a dramatic decline in the past three years, the current inventory represents a relatively balanced market compared to many areas of Long Beach.

Condominiums in 90803

The supply of condominiums in the 90803 area is extremely tight.  In December 2015, the inventory was 1.3 months, which reflects a 53.6% decline from December 2014.

Like home prices, the median condo price in 90803 also increased slightly in the past year and maintained an overall increasing trend since 2012. In December 2015, the median sales price was $403,750, up 11.8% from the previous year in December.

Now is a great time for both sellers and buyers!

Based on the low inventory of homes, now is an especially good time for condominium owners to put their condo on the market. For buyers and sellers, the housing market is fairly balanced based on the supply of homes. If you’d like to know what your home is worth, fill out the form below and we’d be happy to provide you with a report.

Homes Under Contract in 90803

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Homes for Sale in 90803

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Condos Under Contract in 90803

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Condos for Sale in 90803

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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