Mid-Year 2015 90804 Real Estate Review
Prices have been somewhat volatile so far this year in the 90804 area of Long Beach. As of June 2015, the median home price was $423,000, up about $100K from January 2015 but only 3.7% above June 2014.
The volume of home sales in 90804 has also been somewhat sporadic. With 10 homes closing escrow in June 2015, that was a 400% increase from the previous June but still below the peak of 13 closed sales in April.
There are fewer homes on the market now than there were last summer as well, just 20 homes for sale in 90804 as of June 2015, compared to 30 in June 2014. Based on the rate of sales and buyer demand, that represents an inventory of 2.9 months supply.
As a result, many homes are selling at or very close to their list price. The average sales price in June 2015 was 99.1% of the original list price.
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