Real Estate Market Update for 90803

The Peninsula, Long Beach, CA

What’s Going On with the Real Estate Market in 90803?

 

After declining earlier this year, median home prices in 90803 have been on the upswing. In July 2015, the median home price in 90803 was $1,127,000, up $115,500 from June 2015 and $147,000 higher than in July 2014.

 

The number of closed home sales in 90803 was slightly higher than July 2014 but down from June. Nonetheless, the 21 home sales in July far exceeded the 6 sales that occurred in January of this year.

If you are thinking of selling your home in Belmont Shore, Naples, Belmont Park or other 90803 neighborhoods, now is a great time to sell for top dollar. Since the beginning of the year, the median percentage of original price to sales price has been on an upward trend. As of July 2015, the median percentage was at 98.2%, which is the highest it has been in the past four years.

While much of Long Beach is experiencing a shortage of housing inventory with only about a 2 month supply of available homes for sale, 90803 is about a five month supply of homes for sale. This is considerably higher than it was earlier this year.

Condo sales prices in 90803 have not been appreciating as quickly as house prices.  As of July 2015, the median condo sales price in 90803 was $522,000. While up significantly from the previous month, that represents a decline from January 2015 as well as from July 2014.

If you are thinking of buying a condo in 90803, there are plenty of options for you to choose from. In July 2015, there were 29 new condo listings. There were only 15 new listings in June.

 

Want to see how the Real Estate Market in 90803 compares to the rest of Long Beach? Click here to find out!

 

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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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