90815 Real Estate Market Update
Including the neighborhoods of Los Altos, Bixby Hill, Park Estates, La Marina Estates, College Park Estates, El Dorado South, the Plaza, Stratford Square, Artcraft Manor, and
After a sharp drop in the middle of summer, the number of closed sales of single family homes in the 90815 area started to rise again, only to drop slightly again in September 2015. There were 32 closed sales this September, compared to the 33 in August. This number, however, is still 28% higher than this time last year.
The inventory of single family homes for sale in 90815 has been climbing since April of this year, and has leveled off in September to a 2.4 month supply
The median sales price has been a bit sporadic this year. Prices dropped from $610,000 in August to $585,000 in September. This price, however, is still 1.7% higher than September of last year.
The median number of days on market decreased to 37 days this September, after a peak that occurred in August. This, however, is still one week longer than the median number of days in September 2014.
After a decline over the summer months, the number of closed sales on condos in the 90815 area increased dramatically, with 9 closed sales this September. Though this is not the highest point of 2015, it is a whopping 200% higher than this time last year.
The median sales price also increased in September, rising to $315,000. This price is about average as far as 2015 price points go, and is 10.5% higher than September of last year.
Most likely due to the high number of sales, the inventory decreased for the second month in a row, and more sharply this month. There is currently a 1.7 months supply, which is the lowest inventory in the past 18 months.
Condo owners: this market is for you!
If you are thinking of selling your 90815 condo, the market trends are currently in your favor. Inventory is very low and prices are high! And if you’re not a condo owner, or looking to buy in the area, don’t stress! We have a strategic system to ensure you get only the best for your money. Call us today with any questions, we’re happy to help! 562.896.2456
How does the 90815 market compare to Long Beach as a whole? Click here to find out.