90814 Real Estate Market Update
October 2015
Including the neighborhoods of Carroll Park, Rose Park South, Bluff Heights, Alamitos Heights, and Del Lago.
It has been a very sporadic year in terms of the number of closed sales on single family homes in the 90814 area. September 2015 experienced a sharp drop with only 7 closed sales, which is down from 13 in August and down 30% from September of last year.
The inventory of single family homes for sale in 90814 has been climbing all summer, and September followed the trend. There is currently a 2.9 months supply, which is the highest inventory level of 2015, but still down 14.7% from this time last year.
The median sales price dropped for the second month in a row, though not as dramatically as August, and landed at $692,500. This is not the lowest median price point of the year, but it is 10.1% lower than September 2014.
The median number of days on market rose slightly for the second month in a row, coming to 43 days. This is 24.6% lower than September 2014.
90814 Condos
The number of closed sales of 90814 condos increased dramatically, jumping from 6 in August to 12 this month. This is 50% higher than this time last year, and is also a record high over the past several years.
Perhaps due to the increase in popularity, the median sales price for 90814 condos increased this month to $323,500. This is the second highest median price point of the year, and is 14.4% higher than this time last year.
Also a likely factor of 90814 condos’ increased popularity, the months supply of inventory decreased for the third month in a row, and is at the lowest point of 2015.
A great market for buyers and sellers!
For those of you looking to buy or sell in the 90814 area, now is a great time. There are current market trends that benefit both ends of the spectrum. For more information and to figure out what options are best for you, give us a call today at 562.896.2456.
Want to know how the 90814 market compares to Long Beach as a whole? Find out now!
Homes for Sale in 90814
