Long Beach Real Estate Market Update

Long Beach Real Estate Market Heats Up

Home sales were up and the supply of homes for sale continued to decline last month in Long Beach.  Homes that are priced well, show well and are effectively marketed are selling very quickly and multiple offers are becoming more and more common.

Closed sales hit their highest peak in Long Beach last month since October 2014, with 223 single family homes sold.

We expect even more closed sales in the months to come since pending sales spiked significantly last month, up to 264 from 170 the previous month.

New listings in April 2015 were level at 273, consistent with 271 the prior month.

Overall, the inventory declined. The number of homes for sale in April 2015 was 379, compared to 492 last April and 1,040 in April 2010.

Low interest rates and a fear of rising prices have created significant buyer demand and that combined with the low number of homes for sale has resulted in a two-month supply of homes, the lowest it’s been since March 2013. That means that if no additional listings were placed on the market, the inventory of homes for sale would be depleted in two months given the current demand.

The average home price in Long Beach last month was $539,618, down slightly from the previous month and from a year ago in April 2014, when the average price was $563,302. As you can see from the chart below, it’s not uncommon for an overall upward price trend to show some variation month to month.

The average days on market, average time it takes a home to sell, was 67 days last month compared to 57 in March 2015.

Spring is one of the most popular times to sell a home and there are lots of reasons to move-up this spring rather than waiting.

More Information

Please fill out the contact form below to get in touch with us.

Contact Form

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
About the Author

Shannon Jones has been selling real estate since 1998 and specializes in listing and marketing homes. She has consistently been one of the top Realtors in the Long Beach area. Prior to her award-winning career in real estate with the Shannon jones Team, Shannon has had successful careers in journalism and public relations. She holds a bachelors degree from UC Irvine and a masters degree from UC Berkeley. Shannon holds E-Pro, CDPE (Certified Distressed Property Expert), and PSC (Pre-Foreclosure Specialist) certifications. Shannon is very personable and maintains a very strong moral compass, always putting the best interest of home buyers/sellers above monetary goals. A California native, Shannon enjoys gardening, travel, reading, cooking and poker when she’s not selling homes MY DESIGNATIONS Lic# 01247705 | CDPE (Certified Distressed Property Expert) | E-Pro | PSC (Pre-Foreclosure Specialist) MY SERVICE AREAS Anaheim Bellflower Buena Park Carson Cerritos Cypress Downey Fountain Valley Garden Grove Huntington Beach La Palma Lakewood Long Beach Los Alamitos Los Angeles County Norwalk Orange County Rossmoor San Pedro Seal Beach Signal Hill South Bay Westminster

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.