90804 Market Update

90804 Market Update: October 2016

shannonjones Long Beach , Long Beach Real Estate , Real Estate , Real Estate Market Update Leave a Comment

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

Including the neighborhoods of Rose Park and Traffic Circle Area

The number of closed listings on the market for single family homes in the 90804 area took a substantial dive in the month of September, aligning with a decreased number of new available listings. With 3 closed sales, this is a 42% decrease from the year prior’s 7 closed sales. At first blush, this looks quite dire, but it follows a pattern that the region experiences periodically over the last three years.

We lead with the number of sales to better explain the median sales price for the area. With only 3 closed listings, it’s not unusual to see that there also was a drop in median sale price, dropping from $518,000 in August to $390,000 in September. Before this sounds any alarms, the number of closed listings indicate that September was a weak month for sales, and that many of the people who chose to wait until late August and September to list will not start seeing the close until October. We anticipate this should bounce back up in the next report.

The inventory of homes for sale has decreased again in 90804, likely due to the switch in seasons and priorities for many families. In September 2016 there was a 3.3 month supply of homes for sale, which makes it a seller’s market. The market in these neighborhoods tends to fluctuate strongly, so if inventory follows the pattern from the last year, we should see another increase in inventory going into next early spring.

Condominiums in 90804

The price of condominiums in 90804 decreased from August to September of 2016. The median condo price in September was $275,000, but in comparison to last year’s $230,000 in September 2016, this is still 19.5% more than the same time the year before.

The number of pending sales in 90804 has increased in September 2016, indicating that we should show better sales going into October. At 12 pending listings, this is a 100% increase from the year before around the same time. We anticipate another spike upwards going into the next month.

Condominiums that sold in 90804 are generally selling for their asking prices in September, which indicates good pricing practices as well as less time on the market. While inventory has increased going into the fall, the interest in these properties continues to ensure they sell when listed.

Bottom Line

The neighborhoods within 90804 did not have a strong September, but historical data indicates that October and November are typically good. For those wanting to list their home on the market, we suggest you speak with a realtor soon to take advantage of the late fall surges that have been seen in the past. Having a keen eye on your property to help you prepare and move quickly is invaluable.

Homes For Sale in 90804

$5,250,000
Multi-Family For Sale
Active
0.27
ACRES
LOS ANGELES
COUNTY
1071 Junipero Avenue
Long Beach, CA 90804
Eastside (ES) Subdivision
$4,275,000
Multi-Family For Sale
Active
0.21
ACRES
LOS ANGELES
COUNTY
1055 Newport Avenue
Long Beach, CA 90804
Eastside (ES) Subdivision
$1,750,000
Multi-Family For Sale
Active Under Contract
0.1298
ACRES
LOS ANGELES
COUNTY
746 Termino Avenue
Long Beach, CA 90804
Belmont Heights (BH) Subdivision
New Listing - 5 days online
$1,499,999
Multi-Family For Sale
Active
0.1493
ACRES
LOS ANGELES
COUNTY
774 Obispo Avenue
Long Beach, CA 90804
Other (OTHR) Subdivision
$1,350,000
Multi-Family For Sale
Active Under Contract
0.0921
ACRES
LOS ANGELES
COUNTY
4781 E Pacific Coast Highway
Long Beach, CA 90804
Eastside (ES) Subdivision
$1,349,000
Multi-Family For Sale
Active
0.156
ACRES
LOS ANGELES
COUNTY
4199 E Ransom Street
Long Beach, CA 90804
Circle (CA) Subdivision
Price Change - 4 weeks ago
$1,249,000
Multi-Family For Sale
Active
0.1551
ACRES
LOS ANGELES
COUNTY
825 Obispo Avenue
Long Beach, CA 90804
Other (OTHR) Subdivision
New Listing - 3 weeks online
$1,199,950
Multi-Family For Sale
Active
0.1012
ACRES
LOS ANGELES
COUNTY
810 Orizaba Avenue
Long Beach, CA 90804
Other (OTHR) Subdivision
$1,149,000
Multi-Family For Sale
Active
0.1343
ACRES
LOS ANGELES
COUNTY
1021 Bennett Avenue
Long Beach, CA 90804
Belmont Heights (BH) Subdivision
$1,125,000
Multi-Family For Sale
Active
0.0895
ACRES
LOS ANGELES
COUNTY
3506 E 10th Street
Long Beach, CA 90804
 
New Listing - 3 weeks online
$1,125,000
Multi-Family For Sale
Active
0.166
ACRES
LOS ANGELES
COUNTY
915 Temple Avenue
Long Beach, CA 90804
Other (OTHR) Subdivision
$1,025,000
Multi-Family For Sale
Active
0.155
ACRES
LOS ANGELES
COUNTY
1737 Gladys Avenue
Long Beach, CA 90804
Other (OTHR) Subdivision
$995,000
Multi-Family For Sale
Active
0.154
ACRES
LOS ANGELES
COUNTY
828 Orizaba Avenue
Long Beach, CA 90804
Circle (CA) Subdivision
$989,000
Single Family Home For Sale
Active Under Contract
2
BED
2
TOTAL BATHS
1,549
SQFT
775 Terraine Avenue
Long Beach, CA 90804
Alamitos Heights (AH) Subdivision
$950,000
Multi-Family For Sale
Active
0.1494
ACRES
LOS ANGELES
COUNTY
3107 E Spaulding Street
Long Beach, CA 90804
Eastside (ES) Subdivision
New Listing - 2 weeks online
$949,900
Multi-Family For Sale
Active
0.0705
ACRES
LOS ANGELES
COUNTY
3610 E 10th Street
Long Beach, CA 90804
Eastside (ES) Subdivision
New Listing - a week online
$860,000
Single Family Home For Sale
Active
3
BED
2
TOTAL BATHS
1,361
SQFT
710 Newport Avenue
Long Beach, CA 90804
Other (OTHR) Subdivision
$850,000
Multi-Family For Sale
Active
0.1491
ACRES
LOS ANGELES
COUNTY
2245 E 14th Street
Long Beach, CA 90804
 
$825,000
Multi-Family For Sale
Active
0.1292
ACRES
LOS ANGELES
COUNTY
790 Redondo Avenue
Long Beach, CA 90804
Eastside (ES) Subdivision
New Listing - 2 weeks online
$809,000
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,496
SQFT
3342 Ridge Park Ct
Long Beach, CA 90804
Other (OTHR) Subdivision
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