90804 market update

90804 Market Update: June 2016

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June 2016 Real Estate Market Update for the 90804 Area of Long Beach

Including the neighborhoods of Rose Park and Traffic Circle Area

The median home price in 90804 was 22.5% higher in May 2016 than a year ago, but below the peaks that were experienced earlier this year. Home prices have fluctuated in the area, but the general trend appears to be an increase.

There were 12 closed home sales in 90804 in May 2016. Though there were just two closed sales in February, since then the number has climbed substantially. While the number of closed sales have fluctuated a lot in recent years, the number of closed sales in May 2016 was 300% higher than the previous May.

The inventory of homes for sale is quite low in 90804. In May 2016 there was a 2.5 month supply of homes for sale, representing a 35.9% decline from the previous May. Such a market is strongly favorable for seller’s because demand outweighs supply.

Condominiums in 90804

The price of condominiums in 90804 jumped last month to its highest point in recent years. In May 2016, the median condo price in 90804 was $338,500, which reflects a 42.8% increase from a year ago in May.

There were 10 closed condominium sales in May 2016. Though slightly up from the month prior, closed sales are down 41.2% from May 2015, which could be a result of the low inventory.

Condominium inventory is very low in 90806. While a balanced market is considered 4-6 months, there was just a 1.5 month supply in May 2016. This is down 40% from the year prior in May.

Bottom Line

The real estate market in 90804 is prime for seller’s right now. With few homes on the market, there is a high demand from buyers. If you’re thinking about putting your home on the market, give us a call or fill out the form and we’d be happy to help!

Homes Sold and Homes in Escrow in 90804

$1,189,000
Single Family Home For Sale
Active Under Contract
3
BED
2
TOTAL BATHS
1,817
SQFT
817 Terraine Avenue
Long Beach, CA 90804
Alamitos Heights (AH) Subdivision
$989,950
Multi-Family For Sale
Active Under Contract
0.1012
ACRES
LOS ANGELES
COUNTY
810 Orizaba Avenue
Long Beach, CA 90804
Other (OTHR) Subdivision
$949,900
Multi-Family For Sale
Active Under Contract
0.0705
ACRES
LOS ANGELES
COUNTY
3610 E 10th Street
Long Beach, CA 90804
Eastside (ES) Subdivision
$948,880
Condo For Sale
Active Under Contract
6
BED
3
TOTAL BATHS
2,536
SQFT
1080 N Loma Avenue
Long Beach, CA 90804
Circle (CA) Subdivision
$925,000
Multi-Family For Sale
Active Under Contract
0.1334
ACRES
LOS ANGELES
COUNTY
1077 Roswell Avenue
Long Beach, CA 90804
Circle (CA) Subdivision
$799,999
Single Family Home For Sale
Active Under Contract
4
BED
4
TOTAL BATHS
2,496
SQFT
3342 Ridge Park Ct
Long Beach, CA 90804
Other (OTHR) Subdivision
$585,000
Single Family Home For Sale
Active Under Contract
2
BED
1
TOTAL BATHS
1,127
SQFT
1391 Park
Long Beach, CA 90804
Circle (CA) Subdivision
Short Sale
$499,000
Single Family Home For Sale
Active Under Contract
2
BED
1
TOTAL BATHS
660
SQFT
4137 E Fountain Street
Long Beach, CA 90804
Circle (CA) Subdivision
$418,000
Condo For Sale
Active Under Contract
2
BED
2
TOTAL BATHS
919
SQFT
4775 E Pacific Coast Highway #302
Long Beach, CA 90804
Other (OTHR) Subdivision
$349,999
Condo For Sale
Active Under Contract
2
BED
2
TOTAL BATHS
930
SQFT
3401 E Wilton Street #104
Long Beach, CA 90804
Other (OTHR) Subdivision
$339,900
Condo For Sale
Active Under Contract
2
BED
2
TOTAL BATHS
880
SQFT
1140 Junipero Avenue #7
Long Beach, CA 90804
Other (OTHR) Subdivision
New Listing - 4 weeks online
$329,000
Condo For Sale
Active Under Contract
2
BED
2
TOTAL BATHS
822
SQFT
2343 E 17th Street #311
Long Beach, CA 90804
Circle (CA) Subdivision
New Listing - 3 weeks online
$249,900
Condo For Sale
Active Under Contract
2
BED
2
TOTAL BATHS
807
SQFT
2343 E 17th Street #102
Long Beach, CA 90804
Eastside (ES) Subdivision
$229,900
Condo For Sale
Active Under Contract
1
BED
1
TOTAL BATHS
570
SQFT
1467 E Obispo Avenue #1
Long Beach, CA 90804
Other (OTHR) Subdivision

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