90804 september

90804 Market Update: September 2016

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

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

New Listing - 2 weeks online
$3,200,000
Multi-Family For Sale
Active
0.1416
ACRES
LOS ANGELES
COUNTY
500 Junipero Avenue
Long Beach, CA 90814
Other (OTHR) Subdivision
New Listing - 2 weeks online
$3,200,000
Multi-Family For Sale
Active
0.1492
ACRES
LOS ANGELES
COUNTY
3117 E 6th Street
Long Beach, CA 90814
Eastside (ES) Subdivision
$1,650,000
Multi-Family For Sale
Active
0.1495
ACRES
LOS ANGELES
COUNTY
2506 E 6th Street
Long Beach, CA 90814
 
New Listing - 2 weeks online
$1,649,999
Multi-Family For Sale
Active
0.155
ACRES
LOS ANGELES
COUNTY
437 Newport Avenue
Long Beach, CA 90814
Belmont Park (BP) Subdivision
New Listing - 3 weeks online
$1,575,000
Condo For Sale
Active
7
BED
6
TOTAL BATHS
3,200
SQFT
434 Newport Avenue
Long Beach, CA 90814
Belmont Heights (BH) Subdivision
$1,300,000
Multi-Family For Sale
Active
0.155
ACRES
LOS ANGELES
COUNTY
312 Coronado Avenue
Long Beach, CA 90814
Other (OTHR) Subdivision
$1,199,000
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
2,389
SQFT
373 Park Avenue
Long Beach, CA 90814
Belmont Heights (BH) Subdivision
$1,150,000
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
2,588
SQFT
306 Ultimo Avenue
Long Beach, CA 90814
Alamitos Heights (AH) Subdivision
New Listing - a week online
$1,150,000
Single Family Home For Sale
Active
4
BED
5
TOTAL BATHS
2,770
SQFT
5701 Lunada Lane
Long Beach, CA 90814
Del Lago (DL) Subdivision
$1,135,000
Multi-Family For Sale
Active
0.0973
ACRES
LOS ANGELES
COUNTY
4433 E 3rd Street
Long Beach, CA 90814
Belmont Heights (BH) Subdivision
New Listing - 3 weeks online
$994,500
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,000
SQFT
2255 E 6th Street
Long Beach, CA 90814
 
Open House 08/17 at 2PM
$979,000
Single Family Home For Sale
Active
3
BED
2
TOTAL BATHS
2,221
SQFT
624 Termino Avenue
Long Beach, CA 90814
Belmont Heights (BH) Subdivision
$950,000
Multi-Family For Sale
Active
0.155
ACRES
LOS ANGELES
COUNTY
658 Coronado Avenue
Long Beach, CA 90814
 
Open House 08/17 at 1PM
$875,000
Single Family Home For Sale
Active
3
BED
1
TOTAL BATHS
1,284
SQFT
541 Obispo Avenue
Long Beach, CA 90814
Eastside (ES) Subdivision
$859,900
Single Family Home For Sale
Active
3
BED
2
TOTAL BATHS
1,220
SQFT
4210 E Theresa Street
Long Beach, CA 90814
Belmont Heights (BH) Subdivision
$849,000
Single Family Home For Sale
Active
2
BED
1
TOTAL BATHS
1,208
SQFT
344 Grand Avenue
Long Beach, CA 90814
Belmont Heights (BH) Subdivision
New Listing - 5 days online
$839,888
Single Family Home For Sale
Active
3
BED
2
TOTAL BATHS
1,808
SQFT
601 Manila Avenue
Long Beach, CA 90814
Alamitos Heights (AH) Subdivision
New Listing - 4 weeks online
$749,900
Multi-Family For Sale
Active
0.0678
ACRES
LOS ANGELES
COUNTY
3623 E 6th Street
Long Beach, CA 90814
Belmont Heights (BH) Subdivision

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