The first month of 2021 was a hot one! Buyer demand continues to go up, but listings still haven’t caught up yet. In fact, this is the strongest seller’s market The Shannon Jones Team has seen in over 20 years of real estate. In January 2021, The number of new, single-family listings in Long Beach was down 14.4%.
Overall in Long Beach in January, there was a 1.3 month supply of single-family homes for sale. This means if nothing else came on the market in 1.3 months, we’d be completely sold out of homes! The market was even tighter in certain zip codes. In 90815 there was a 1.1 month supply. In 90804 there was a 0.8 month supply, and finally in 90808 just a 0.6 month supply! This was down an incredible 40% from the same time last year. As a result, the time it takes to sell a home has declined 50% year over year!
What do these numbers mean?
The seller’s market is continuing with no sign of stopping. Here’s what we suggest for both buyers and sellers.
Sellers
If you have been sitting on the sidelines waiting for the right time to list your home, now is the right time to leverage your equity and cash out. It’s also more important than ever to have a strategy in place for selling your current home and buying a new one. This is where a real estate expert like the ones at The Shannon Jones Team come in.
To get started, with the selling process click HERE for a free home valuation. You can also give us a call at 562.896.2456, or fill out the contact form at the bottom of the page. We’d love to chat and figure out what your home is worth and whether selling is the right move for you!
Thinking of selling your home because you want to downsize? Check out our recent downsizing blog HERE and don’t forget to sign up for our downsizing webinar HERE!
Download your free seller’s guide HERE.
Buyers
It’s imperative that you start your home search early and with experts by your side. Patience is key, as well as the understanding that the first house you like may not be the one you get. It’s also possible that you will get into bidding wars or experience a multiple counteroffer situation. This is where the experts come in. The right real estate agent will be able to guide you through these situations and take away at least some of the stress that comes with buying a home.
Give us a call at 562.896.2456 so we can set up an appointment for you with a lender and start talking budget. We can also set up a personalized home search for you so you can be the first to know when new listings hit the market.
Download your free buyer’s guide HERE.
While many homes are selling quickly with multiple offers, some neighborhoods are moving more quickly than others, and some areas are showing stronger prices. If you’d like to know about the statistics in your neighborhood or you’re curious about the value of your home in Long Beach CA or surrounding areas, let us know. We’d be happy to help.
For a quick snapshot of the different zip codes, please scroll down for more information.
Long Beach
Lakewood
Signal Hill
Long Beach Zip Codes
While much of Long Beach’s real estate market is similar, there is some variation between zip codes, as illustrated by the numbers below. If you’d like more information, please reach out to us.
90802
90803
90804
90805
90806
90807
90808
90813
90814
90815
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