September Market Update for the 90807 area of Long Beach, CA.
Real Estate Statistics for Bixby Knolls, Bixby Terrace, Bixby Highlands, Ridgewood Heights, California Heights, and Virginia Country Club.
The number of closed sales on single family homes in 90807 was on the rise for much of this year, though it has started to drop down again recently. In August, there were 29 closed sales, down from this year’s peak, but still 7.4% higher than this time last year.
The supply of inventory in the 90807 area has been dropping over the past two years, and this month followed the trend. There is currently a 2.3 months supply of homes, which is the lowest in all of 2015.
Median sales price in 90807 homes has been a bit sporadic this year, and dropped to $580,000 in August, but this is still 24.2% higher than in August of 2014.
The market in this area has been hot, which is why the median days on market for homes has been relatively low this year. In August, the median number of days was only 39, which is 11.4% lower than last year.
90807 Condos
Not many condos were closed on last month, with the total coming in at only 7. However this is still one of the better months when compared to the rest of 2015.
Median condo sales price also dropped slightly this past month, with the median price being $251,000. This is 23.2% lower than this time last year.
Supply of inventory for 90807 condos has been dropping over the last year and a half, and currently there is only a 1.5 months supply.
A great time to sell!
With inventory levels for both homes and condos in the 90807 area being so low, now is the perfect time to sell! Average days on market have been low, and prices have been competitive. If you are thinking of selling your home and wondering what it might be worth, take a minute to fill out the form below and we’ll give you a home evaluation for free!
Want to know how 90807 compares to the rest of Long Beach? Click here for the full Market Update.
