90807 Real Estate Market Update
October 2015
Including the neighborhoods of Virginia Country Club/Los Cerritos, Bixby Knolls, Bixby Highlands, Bixby Terrace, Ridgewood Heights, California Heights, and Country Club Manor.
After increasing earlier this year, the number of closed sales of single family homes in the 90807 area leveled off a bit. For the second month in a row, there were 29 closed sales, and even though this isn’t the highest number of the year, it is still 93.3% higher than this time last year.
The inventory of single family homes for sale in 90807 has been dropping most of this year, and September was no exception. The inventory is currently at a 2.1 month supply, the lowest level so far in 2015 and 43.2% lower than this time last year.
The median sales price took a drop for the second month in a row, landing at $540,000. This is the lowest median price point of 2015 but is still 2.9% higher than this time last year.
Single family homes in the 90807 area have been selling quick this year! Last month, the median number of days on market came to 37. And though this isn’t the shortest time period of 2015, it is 40.3% lower than September 2014.
90807 Condo Sales
The number of closed condo sales in 90807 has dropped significantly since the beginning of summer. This past month, there were only 3 condos sold, which is 72.7% lower than this time last year.
The median sales price for 90807 condos has jumped around a bit this past year. September saw a slight increase, coming to $285,000, which is 23.9% better than September of last year.
The inventory of condos for sale in 90807 has been slightly increasing since the beginning of summer, and last month followed the trend. There is currently a 1.9 months supply of condos in the 90807 area, and although this is an increase from the past few months, it is still 32.1% lower than this time last year.
A great time for buyers and sellers!
Whether you are thinking of buying or selling in the 90807 area, there are current market trends that will benefit both ends of the spectrum. If you have any questions or want more details, we’d be happy to help! Call us today at 562.896.2456.
Wondering how the 90807 market compares to Long Beach as a whole? Click here to find out!
Homes for Sale in 90807
