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 sat at $630,000 last month, showing a slight decline from August’s $650,000. While the last couple months have shown a small amount of loss, the pricing for this region is consistently pretty even with a slow but steady trend of growth.
The number of closed sales in 90815 experienced a rise in September, going from 27 in August to 31. 2016 has been a stronger than average year for closed sales, and although a downward dip around the holidays in not unheard of, 2015’s late fall and early winter saw a spike in sales. As such, it’s too soon to call if sales have truly begun to slow for the region based on September’s numbers.
Inventory as a whole is very low in 90815, though the summer and fall have shown a growth in available properties. At a 1.7 months supply in September, this is still one of the lowest inventory areas in Long Beach, and is firmly in a seller’s market.
Condominiums in 90815
Condo prices in 90815 dipped a little in September 2016 to a median of $351,000, keeping stride with the general pricing that 2016 has shown for condos this year in 90815. In comparison to last year, this is a 17% increase in value.
The number of days on the market for condos in 90815 is fairly low, taking a median of 29 days. This is in line with areas like Wrigley, which have seen a lot of demand that generally leads to quick sales. Which exception ofthe first half of 2015, the days on the market for this region is typically low for condos.
Inventory in 90815 is at another incredibly low point as of September 2016, with only 1 month of supply for condos. While there had been a general pattern of growth over the first half of the year, inventory has been taking a dive since July.
Sellers Market
Inventory in 90815 is low for both single family homes and condos, meaning that this is a strong sellers’ market. For people hunting in this area for a condo, you’ll want to be extra vigilant with a realtor that keeps an eye out for you. If you’re looking to sell your home, this market is incredibly stable, making your timeframe a good timeframe, no matter the time of year. If you’re ready to take the next step in the sale of your home or condo, feel free to contact our team to discuss the best strategy to get you the most for your home.
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