Long Beach Real Estate Market Update for November 2015

What’s Going On With Long Beach Real Estate?

With prices up, inventory down and homes selling quickly, the fall housing market is a great time for home sellers in Long Beach.
After taking a dip in September, the median home price in Long Beach increased to $525,400 last month, which is 7.9% higher than in October 2014.

Homes are still selling relatively quickly in Long Beach. In October, the median days on market for a home to sell was 44, which was 8.3% less than in October 2014.

 
The number of homes for sale in Long Beach has been declining and as of October, it was 21.8% lower than last year. There is currently about a 2.2 month supply of homes for sale, down 29% from this time last year.

 

Most homes are also selling very close to list price. As of last month, the median selling price was 99.3% of the listing price, slightly up from last year.

 

Long Beach Condo Market

Median prices for Long Beach condos have also been increasing, though at a more modest rate than for single family homes. As of October 2015, the median price for a Long Beach condo was $310,000 – up 3.3% from October 2014.

As with houses, inventory has been declining. As of last month, there was a 2.2 month supply of inventory of condos for sale in Long Beach, down 42.1% from October 2014.

If you are thinking of selling your home, doing so when the inventory is low and demand is high could benefit you. If you’d like to know what your home is currently worth in today’s real estate market, fill out the form below and we’d be happy to assist you.

 

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

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