Market Update: Real Estate Statistics and Information for the 90814 Areas of Long Beach, CA
90814 Market Update Includes the Neighborhoods of Carroll Park, Bluff Heights, Rose Park South, and Other 90814 Neighborhoods of Long Beach
The median home price in 90814 has increased substantially in the last three years but has been somewhat volatile. Prices reached a peak of $940,000 in July 2015, yet as of February 2016 the median home price was $815,000. This is actually down 6.9% from the year prior.
There are very few active listings in 90814 right now. In February 2016 there were 15 active listings, which reflects an 11.8% decrease from the year prior in February.
Correspondingly, the supply of homes on the market in 90814 has decreased in recent months and is currently very low. In February 2016 there was a 1.8 month supply, which is the lowest it’s been in more than a year. The high demand and low inventory means we are in a seller’s market, making it a great time to put your home on the market!
Condominiums in 90814
The median price of condominiums in 90814 has also fluctuated a fair amount in recent years. In February 2016 the median price of condos in 90814 was $305,000, up 31.5% from the prior February.
The number of active listings in 90814 has also fluctuated quite a bit in the past three years. In the last month, active listings dropped from 16 to 13.
Though inventory of condos for sale in 90814 was relatively balanced last summer, supply has since dropped substantially. In February 2016 there was only a 1.7 month supply of condos on the market. This suggests that there are not enough properties on the market to match the demand.
Inventory is low in 90814. People are looking to buy, but there are not enough homes on the market. If you’re thinking about selling your home, now is a great time to talk to a knowledgeable realtor.