90814 Market Update: September 2016

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 single family home price in 90814 has increased substantially in the last three years but continues to see-saw with rises and falls in the market. August saw growth after July’s brief decline, and the average price sat at $827,500. This is a 15.7% increase from the year prior. Historically, these prices saw another rise around November of 2015, so it will be interesting to watch and see if this becomes a new trend.

The number of days that homes are on the market in 90814 saw a decrease June and August, with 53 days being the average from August. This is a fairly average time for housing as a whole, but is slightly longer than the Long Beach norm.

The inventory of homes on the market in 90814 has seen gradual growth, with occasional falls. In February 2016 there was a 1.8 month supply, which is the lowest it’s been in more than a year, but quantity has increased to 4.0 since then in August. This marks a half-way point between being a seller’s or a buyer’s market, as while this is still quite low from a national perspective, this is a pretty good opportunity for a buyer in the Southern California market.

Condominiums in 90814

The median price of condominiums in 90814 has also fluctuated a fair amount in recent years, but trends upwards. In August, the median price for a condominium was $335,000, a 9.5% growth since August 2015 even though it was a slight drop from June 2016’s high point for the year.

The number of active condominium listings in 90814 currently sits at 15. The number of active listings in 2016 has been fairly low in comparison to years prior, although there was only one more listing in August 2015 than there is presently, marking a very small drop for this time of year.

Inventory has declined significantly in recent months, with only a mild increase in August 2016 to a 1.8 month supply for condominiums in 90814. While historically prior to last year we would typically see an increase in inventory over the fall and early winter, 2015 bucked this trend and it will be interesting to watch to see if 2016 marks another late year of low inventory.

Sellers Market

Inventory is middling in 90814, even with high single family home pricing. If you are looking to list a condo however, this is a really excellent time with low competition. If you’re thinking about selling your home, now is a great time to talk to a knowledgeable realtor and make a strategy that is appropriate to your timeline and your neighborhood’s sale patterns.

Homes Recently Sold in 90814

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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