90814 Real Estate Market Update – December 2015

shannonjones Long Beach Real Estate , Real Estate Market Update Leave a Comment

What’s Going On With Real Estate in 90814?

Home Prices in Carroll Park, Bluff Heights, Rose Park South and other 90814 Neighborhoods of Long Beach

90814 real estate is hot right now! The median price for homes sold in 90814 last month was $860,000, which is up 42.1% from last November.

Interestingly, however, the median price per square foot in November was at $395, which is 31.1% lower than it was in November 2014.
With just 7 closed home sales in November 2015, the number of home sales in 90814 was lower than it has been for a number of months but still higher than this time last year.

Homes in 90814, which includes Carroll Park, Rose Park South, and Bluff Heights Neighborhoods, are selling reasonably quickly. As of November 2015, the median days on the market for sold homes was 40, which is 21.6% below this time last year.

The number of homes for sale in 90814 declined last month to a 1.9 month supply, which is 13.6% below its level in November 2014.

Condo Sales in 90814
The number of condos for sale in 90814 is also extremely low, with just a 1.3 month supply of condos for sale, down 62.9% from November 2014.

At $343,000 as of November 2015, the median price for condos sold in 90814 was 25% higher than it was in November 2014.

Seller’s Market

Anytime inventory is as low as it is right now, we experience what’s called a “seller’s market,” meaning that sellers have the upper hand when negotiating because supply is so far below current demand. Although spring and summer are traditionally considered by many to be the best time of year to sell a home, this winter is shaping up to be an excellent opportunity for sellers. If you’d like to find out what your home is worth in today’s market, fill out the form below and we’d be happy to provide you with a custom market evaluation.

Homes for Sale in 90814

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