Local Home Prices Jump Again

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ome Prices in Greater Long Beach Area Rise As Inventory Remains Low

The Southern California housing market continued to sizzle in August as home prices in Southern California rose again. In Los Angeles County, the median home price climbed 9.4% to a record $580,000.

In Long Beach, the median home price in August rose to $622,500, which is 13.4% higher than a year ago. The inventory of homes for wale was 20.7% less than a year ago.

long_beach_august_2017_stats"

In Lakewood, the median home price in August was $569,500, up 8.5% from a year prior and the inventory of homes for sale was just slightly lower than a year ago. Still, with less than a two months’ supply of homes for sale, Lakewood is definitely in what’s considered a “seller’s market.”

lakewood_home_prices_august_2017

In Signal Hill, the last 12 months has shown an increase in prices, yet the median price in August showed a decline and inventory showed an increase.

signal_hill_home_price_august_2017

Like Signal Hill, Seal Beach prices have gone up over the past 12 months but the median home price in August was lower than a year ago. The inventory of homes for sale has remained relatively even. Prices for condos in Seal Beach were up 17.6% in August while inventory was down by 43.2%.

Seal Beach home prices August 2017

Los Alamitos saw an 18.6% jump in the median home price in August, rising to $885,000, while inventory remained relatively stable.

Los Alamitos Home Prices August 2017

August tends to mark the waning of housing activity ahead of the school year. Not all buyers and sellers have children, but there are enough parents that do not want to uproot their children during the school year to historically create a natural market cool down before any actual temperature change.

As we move into the fall, competition is expected to remain fierce for available listings. Savvy sellers and buyers know that deals can be made well into the school months, as household formations take on many shapes and sizes. October and November are typically very active months for real estate sale in our area, and with the inventory remaining critically low in many neighborhoods, potential home sellers might be well advised to take advantage of the current market environment.

As you can see from the graphs below, price trends and inventory can vary greatly from area to area within the same city. Don’t see your Zip Code? Or want to find out more precisely what your home is worth? Simply scroll to the bottom of this post and fill out the form for a comprehensive report.

Real Estate Market in 90712

home prices in 90712

Real Estate Market in 90713

home prices in 90713

Real Estate Market in 90755

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Real Estate Market in 90802

Real Estate Market in 90803

home prices in 90803

Real Estate Market in 90804

home prices in 90804

Real Estate Market in 90805

home prices in 90805

Real Estate Market in 90806

home prices in 90806

Real Estate Market in 90807

home prices in 90807

Real Estate Market in 90808

home prices in 90808

Real Estate Market in 90814

home prices in 90814

Real Estate Market in 90815

home prices in 90815

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