Real Estate Market Update November 2020

November 2020

Last month homes in Long Beach sold on average for 100.6% of the original listing price. That’s a stunning number indicating the continued strength of the current seller’s market. The average sales price was $942,772 – a 25.4% increase from this time last year. In neighboring Lakewood, the numbers are similar for the selling price (selling at 103.1% of asking) but the most shocking number is the average days on market. On average, homes in Lakewood are lasting just 9 days on the market! That’s down 66.7% since this time last year! In Signal Hill, homes last slightly longer (11 days) but that’s down from 108 days last year – 89.8%!

What do these numbers mean?

If you’re a potential seller you are in the driver’s seat. Sellers currently have the ability to command top dollar and close quickly. There are a number of buyers in the market but not enough homes for them to purchase. Bidding wars are common leading to even higher selling prices. If you’ve ever considered selling your home, now may be the right time.

To start, click HERE for a free home valuation. You can also give us a call at 562.896.2456, or fill out the contact form at the bottom of the page. We’d love to chat and figure out what your home is worth and whether selling is the right move for you!

While many homes are selling quickly with multiple offers, some neighborhoods are moving more quickly than others, and some areas are showing stronger prices. If you’d like to know about the statistics in your neighborhood or you’re curious about the value of your home in Long Beach CA or surrounding areas, let us know. We’d be happy to help.

For a quick snapshot of the different zip codes, please scroll down for more information.

Long Beach

Lakewood

Signal Hill

Long Beach Zip Codes

While much of Long Beach’s real estate market is similar, there is some variation between zip codes, as illustrated by the numbers below. If you’d like more information, please reach out to us.

90802

90803

90804

90805

90806

90807

90808

90813

90814

90815

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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 bachelor's degree from UC Irvine and a master's 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)