90815 Market Update

shannonjones Real Estate , Real Estate Market Update Leave a Comment

90815 Market Update: Real Estate Statistics and Information for the 90815 Areas of Long Beach, CA

Including the Neighborhoods of Los Altos, Park Estates, La Marina Estates, and other 90815 Areas of Long Beach

Home prices in 90815 have been rising fairly consistently since 2013. In January 2016, the median price reached $650,000 – the highest it has been in several years and 11.9% higher than in January 2015.

The number of active listings in 90815 has consistently experienced significant surges in the summer months over the past three years and is currently lower than it’s been for several years. In January 2016 there were 44 active listings, compared to 73 active listings last summer in August.

Inventory of homes for sale in 90815 has followed a similar pattern of peaking in the summer.  At a 1.4 month supply in January 2016, inventory is currently lower than it’s been in several years. As a result, this is an opportune time to place a home on the market.

Condominiums in 90815

The median price for 90815 condos hit $393,000 in December 2015 but has since dropped substantially. In January 2016, the median price of condos was $309,500. This reflects a 9.6% increase from the year prior in January.

The number of active condo listings in 90815 is quite low. In January 2016, there were 9 active listings, down 40% from January 2015.

In January 2016 there was a 1.8 month supply of condos on the market in 90815. This is 40% lower than the year prior in January. This low inventory is favorable for those looking to sell in 90815.

Bottom Line:

Inventory is very low in 90815. The demand for homes in this area far exceeds the supply. If you are thinking about selling your home, now is a great time if you hope to receive a competitive offer.

Homes Sold and In Escrow in 90815

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