90804 Market Update: September 2016

90804 september

September 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 took a little dip from July  to August, with the average single family home costing $518,000. This is also a 9.9% decrease from the year following in August 2015. Housing in this area still remains strongly desirable in Long Beach, with great walkability and local resources, so if you’ve been eyeing this area as a buyer, it’s a good time to check out what’s available. The general trend for 90804 overall is of positive growth for home prices.

The median days that a house spent on the market was very low in August, sitting at 16 days on average. This indicates that the houses that listed towards the end of July and in August 2016 were quick to find buyers. In comparison to last August’s 37 day average, this is a substantial difference in interest.

The inventory of homes for sale has increased in 90804, likely due to the increased property value in July. In August 2016 there was a 4.2 month supply of homes for sale, which makes it a seller’s market but more fairly balanced towards a buyer than is typical. The market in these neighborhoods tends to fluctuate strongly, so we may see another decrease occur soon as seen in the fall of 2015.

Condominiums in 90804

The price of condominiums in 90804 decreased from July to August of 2016. The median condo price in July was $299,900, which reflects a higher value than August of last year by 5.8%. However, overall value continues to trend upwards with spikes in value.

There were 11 closed condominium sales in August 2016. The generally low inventory in the area for condominiums indicates there was stronger interest in August than July, but is still fairly middle ranged in comparison to the last three years.

Condominiums for sale in this area are low in supply, with only a 2.5 month supply overall. While this has increased since a low point in March 2016, the overall quantity is very low and marks a seller’s market even with a little extra competition.

Bottom Line

Despite a brief slowing of sales, the 90804 area continues to exhibit strong sales and real estate appreciation in the greater Long Beach area. With few homes on the market, there is a high demand from buyers for this increasingly trendy neighborhood. 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!

Recent Sales in 90804

$2,300,000
Multi-Family For Sale
Active
0.17
ACRES
LOS ANGELES
COUNTY
386 Ximeno Avenue
Long Beach, CA 90814
Belmont Heights (Bh) Subdivision
New Listing - 5 days online
$1,999,999
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
3,047
SQFT
515 Flint Avenue
Long Beach, CA 90814
Alamitos Heights (Ah) Subdivision
New Listing - 2 weeks online
$1,890,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
2,916
SQFT
328 Granada Avenue
Long Beach, CA 90814
 
Price Change - 6 days ago
$1,890,000
Multi-Family For Sale
Active
5,201
SQFT
380 Temple Avenue
Long Beach, CA 90814
Bluff Park (Blf) Subdivision
New Listing - 5 days online
$1,700,000
Multi-Family For Sale
Active
3,806
SQFT
4140 E 5th Street
Long Beach, CA 90814
Belmont Heights (Bh) Subdivision
New Listing - 3 weeks online
$1,699,999
Multi-Family For Sale
Active
3,900
SQFT
691 Stanley Avenue
Long Beach, CA 90814
Other (Othr) Subdivision
$1,650,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
3,285
SQFT
357 Ultimo Avenue
Long Beach, CA 90814
Alamitos Heights (Ah) Subdivision
$1,599,999
Multi-Family For Sale
Active
4,118
SQFT
364 Freeman Avenue
Long Beach, CA 90814
Belmont Heights (Bh) Subdivision
Price Change - 3 weeks ago
$1,520,000
Single Family Home For Sale
Active
3
BEDS
4
TOTAL BATHS
3,913
SQFT
350 Los Altos Avenue
Long Beach, CA 90814
 
Price Change - 3 weeks ago
$1,499,000
Multi-Family For Sale
Active
2,396
SQFT
279 Redondo Avenue
Long Beach, CA 90814
2nd Street East (Sse) Subdivision
New Listing - yesterday
$1,495,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
2,770
SQFT
364 Seville Way
Long Beach, CA 90814
Del Lago (Dl) Subdivision
$1,489,000
Multi-Family For Sale
Active
3,058
SQFT
451 Redondo Avenue
Long Beach, CA 90814
Belmont Heights (Bh) Subdivision
$1,280,000
Multi-Family For Sale
Active
2,576
SQFT
2825 E 5th Street
Long Beach, CA 90814
Belmont Heights (Bh) Subdivision
$1,250,000
Single Family Home For Sale
Active
0.14
ACRES
LOS ANGELES
COUNTY
335 Redondo Avenue
Long Beach, CA 90814
Belmont Heights (Bh) Subdivision
$1,200,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
1,664
SQFT
3214 E 4th Street #AB
Long Beach, CA 90814
Belmont Heights (Bh) Subdivision
$1,195,000
Single Family Home For Sale
Active
2
BEDS
3
TOTAL BATHS
1,328
SQFT
5675 E 6th Street
Long Beach, CA 90814
Alamitos Heights (Ah) Subdivision
Price Change - 4 days ago
$1,125,000
Single Family Home For Sale
Active
3
BEDS
2
TOTAL BATHS
1,429
SQFT
359 Termino Avenue
Long Beach, CA 90814
 
Price Change - 6 days ago
$1,030,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,792
SQFT
313 Avenida Granada
Long Beach, CA 90814
Del Lago (Dl) Subdivision
Price Change - 2 weeks ago
$985,000
Single Family Home For Sale
Active
2
BEDS
2
TOTAL BATHS
1,086
SQFT
3511 E 3rd Street
Long Beach, CA 90814
Belmont Heights (Bh) Subdivision
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 bachelor's degree from UC Irvine and a master's 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)

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