Local Market Update May 2017

Home prices have continued to rise locally and inventory has continued to decline, making this a potentially lucrative time to sell a home. Homes that show well and are priced correctly have been selling quickly, often at higher prices than asking and with multiple offers.

There is typically an increasing amount of buyer competition during the annual spring market cycle, and buyer demand has not abated, nor is it expected to in the immediate future unless something unpredictable occurs. While strong demand is generally considered to be a positive aspect of the real estate market, it creates an affordability issue for some buyers, especially first-time buyers.

Overall in the local Multiple Listing Service, new listings were down 8.2 percent for Single Family homes in April and 9.0 percent for Townhouse-Condo properties. Pending Sales decreased 44.5 percent for Single Family homes and 44.0 percent for Townhouse-Condo properties.

The Median Sales Price was up 5.6 percent to $665,000 for Single Family homes and 6.6 percent to $431,908 for Townhouse-Condo properties. Months Supply of Inventory decreased 3.3 percent for Single Family units and 12.5 percent for Townhouse-Condo units.

Long Beach Market Statistics

In Long Beach, the median sales price was $569,000 in April 2017, up 28% from the previous April. The months supply of inventory was 2.2, but in many parts of Long Beach it was even lower than that.

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Lakewood Market Statistics

The median home price in Lakewood increased year over year by 3.8% in April, with homes selling on average for 100.1% of original list price. The inventory of homes for sale in Lakewood was lower than most areas, with just a 1.6 month supply as of April 2017.

Lakewood Market Statistics

Seal Beach Market Statistics

Seal Beach market statistics

Los Alamitos Market Statistics

Los Alamitos Market Statistics

If you’d like information for another city or a particular neighborhood or zip code, simply fill out the form and we’d be happy to provide that to 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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