Long Beach Real Estate Update – August 2015

Bluff Park, Long Beach, CA

What’s the latest with the Long Beach real estate market?

After five months of increases, the median home price in Long Beach dropped a little in July 2015. Yet at $520,000, the median price of a single family home in Long Beach is still 9.5% higher than in July 2014.

Closed sales last month were also slightly down from the previous month, but up from July 2014. A total of 228 single family homes sold last month, up 15.2% from the previous year.

 

Available homes for sale in Long Beach declined last month to 438, 25.4% below the same time last year and the lowest Long Beach has seen since March 2013. That represents a 2.3 month supply of homes for sale.

 

Homes are selling reasonably quickly in Long Beach. The median time on the market in July 2015 was 41 days, down 8.9% from July 2014.

Condo Real Estate Market in Long Beach

Meanwhile, condo prices in Long Beach have also been appreciating. In July 2015, the median price for a condo  in Long Beach was $311,000, up 6.9% from July 2014.

 

The inventory of condos for sale in Long Beach is just under 3 months.

Wondering what your home is worth? Give us a call at 562.896.2456 and we’d be happy to provide you with a comparative market analysis (CMA) or simply fill out the form below.

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 *