90806 Market Update: September 2016

September 2016 Real Estate Market Update for the 90806 Area of Long Beach

Including the neighborhood of Wrigley and the Surrounding Areas of 90806

Home prices continue to rise in 90806 as a trend, but August 2016 itself saw a dip downwards.  As of August 2016, the median price was $446,250, which is slightly lower than last year around the same time. Interestingly, we historically see a rise in value following September in 2015 over the course of the fall, and with such low inventory we can expect something similar might happen again.

The number of closed sales in 90806 has increased substantially since the beginning of the year following a rough pattern over the last three years that indicates September and October are good times for the Wrigley neighborhood and surrounding areas. August 2016 saw 18 closed sales, the same amount as the year before.

One reason homes are selling relatively quickly is the lack of inventory of homes on the market in 90806. 1.8 months of supply was available in August 2016, making it an ideal time to list in combination with the lowered number of new listings that came on the market in the same time frame. In comparison to August 2015’s 2.6 month supply (also incredibly low), there is very little available in the neighborhood which will make competition minimal for would-be sellers.

Active listings in 90806 also declined in August, falling from a recent peak of 34 in April 2016 to 23 in July. In comparison to August 2015, the number of available listings has dropped 32.3%.

 

Bottom Line

The real estate market in 90806 is prime for those looking to sell their home, and historically has good fall sales. There is not a lot of competition and many people are looking to buy. If you’re thinking about putting your home on the market and want to get top dollar, give us a call today or fill out the form below!

Recent Sales in 90806

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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 bachelors degree from UC Irvine and a masters 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) MY SERVICE AREAS Anaheim Bellflower Buena Park Carson Cerritos Cypress Downey Fountain Valley Garden Grove Huntington Beach La Palma Lakewood Long Beach Los Alamitos Los Angeles County Norwalk Orange County Rossmoor San Pedro Seal Beach Signal Hill South Bay Westminster

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