90804 Market Update: Real Estate Statistics and Information for the 90804 Areas of Long Beach, CA
Including the neighborhoods of Rose Park and Traffic Circle Area
The median home price in 90804 climbed slightly last month and has been rising steadily since last November. The median price in February 2016 was $551,750, which is 38.3% higher than a year ago.
Though inventory in Long Beach is quite low, the supply of homes on the market in 90804 is fairly balanced. In February 2016 there was a 3.1 month supply, which is still 26.2% lower than in February 2015.
The days on market (DOM) for homes that sold in February 2016 was 41 days, which is up from the previous February.
Condominiums in 90804
Overall, the median condominium price in 90814 has increased in recent years. Last month, prices decreased slightly, yet at $254,500, the median price was 17.6% higher than it was in February 2015.
Unlike the supply of single family homes, condo inventory in 90804 is extremely low. In February 2016 there was just a 1.2 month supply of condos on the market in 90804. This is lower than the month before and 68.6% lower than a year ago in February.
Condos tend to sell fairly quickly in 90804. The days on market for condos selling in February was 33 days, which is 53.5% lower than February 2016.
Bottom Line
If you are thinking about buying or selling a single family home in 90804, now is a good time because the market has a balanced inventory. For condominium owners, the market is strongly favorable if you’re thinking about selling. Give us a call or fill out the form below if you’d like to find out what your home is currently worth.
