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
The median home price in 90815 jumped to $720,000 last month, the highest point in years and 32.6% higher than it was in February 2015. 90815 experienced one of the biggest price increases in Long Beach during the past 12 months. In comparison, median prices in Long Beach overall saw an increase of 11.4% during that same time period.
While prices have been climbing, the number of homes for sale in 90815 has been declining. In February 2016 there were 40 active listings in 90815 compared to 58 at the same time last year.
With the low number of homes for sale in 90815 and a high demand, the area saw available inventory fall to its lowest level for years. In February 2016 there was a 1.3 month supply of homes on the market in 90815. This is extremely low and means that we’re in a strong seller’s market.
Condominiums in 90815
Condo prices in 90815 have shown some significant fluctations over the past few years. Lasty month the median price of condos in 90815 was $307,250, down slightly from January 2016 but up 25.5% from the prior February.
The number of active condo listings in 90815 has also fluctuated a lot in recent years. In recent months, active listings have been quite low though. In February 2016 there were just 7 active listings, which reflects a 53.3% decrease from the year prior in February.
Corresponding with the low number of active listings, the available inventory has been low in recent months. In February 2016 there was a 1.3 month supply of condos on the market. This means we are in a strong seller’s market.
Inventory in 90815 is extremely low. This means that the market favors sellers. If you have been thinking about selling your home or condo, now is a great time!