I wanted to share with you the Long Beach real estate market radar trends for 2024. Will higher interest rates affect housing prices in 2024? What is happening in our local market, anyway?!
So I researched all Long Beach homes, condos, and townhomes to give you a breakdown by price and other helpful statistics for a savvy buyer or seller like you.
Long Beach Real Estate Market Trends for 2024
The data is updated daily directly from my membership in the California Regional Multiple Listing service. This is the most accurate data available.
Switch property types from Long Beach houses to condos in Long Beach for current data. I hope my Long Beach Real Estate Market Report gives you some insights into the real estate industry.
Compare Long Beach Housing Market 2024 for Homes, Condos & Townhomes
Real Estate Market Trends | Long Beach Homes | Long Beach Condos | Townhomes | Own Your Owns |
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Average Selling Prices | $1,021,879 | $580,104 | $820,330 | $228,333 |
List to Sale Ratio: | 100.50% | 100.80 | 100% | 100.30% |
What is the average price per square foot? | $669.00 | $603.00 | $517.00 | $491.00 |
Months of Supply of Inventory Available for Sale | 1.80 | 2.10 | 1.10 | 6.30 |
Number of Properties Sold Year to Date: | 98 | 68 | 5 | 3 |
How many days does it take to sell a house vs condo? | 30 | 34 | 15 | 46 |
Active Listings for Sale: |
Frequently Asked Questions of Trends
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Will house prices go up in 2024 in Long Beach, California?
I think based on 2024 trends in pricing, housing prices in Long Beach will stabilize. There are some neighborhoods in the city of Los Angeles where prices have gone up by 5 to 6%. Long Beach home prices went up in 2023 by 1.90% citywide.
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Is 2024 a good year to buy a house?
Yes. It is all about the interest rates. Please get “pre-approval under-written” for a loan. It works to your benefit in a multiple-offer situation because all you need is an appraisal at that point to get a loan. Other people who just got “pre-qualified or pre-approved” and have not filled out all of their paperwork can’t compete against your offer. After we submit an offer on your behalf, I will have your lender call the listing agent to seal the deal. Let’s meet and talk about details and strategies..
Here are two lenders to consider: Mary Shuck of Movement Mortgage at 562-388-4197; and Joel Gagarin of Union Bank at 714-651-3708. I know a lot of reliable lenders.
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Is the housing market going to crash in Southern California?
I have a lot of clients and visitors to our website asking this question. The last crash of the market was in 2008 when the stock market crashed. At that time, home buyers were getting bad loans with false documents and were being laid off from their jobs due to the stock market crash. The combination caused foreclosures everywhere.
During the pandemic, there was a moratorium on foreclosures and we have not seen a lot of those. I expect housing prices in 2024 to continue to rise a little but stabilize. The way to track this is to subscribe to my YouTube channel where I create monthly statistics videos and local content which is a great way to follow Long Beach housing market predictions.
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What is the best way to be the winning offer in a multiple-offer situation on a house?
I suggest reading my article “How My Clients Won in a Bidding War for a Downtown Long Beach Condo?” In the article, I talk about strategy.
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Do you recommend searching for homes on Zillow Long Beach?
No. Zillow is an advertising and marketing company. They will sell your data. I have local data on RedWagonTeam.com about Long Beach neighborhoods, condominium communities, gated communities, and more local information for you.
Check out my Long Beach special features pages or lifestyle search to find the right house or condo for you quickly.
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Why is Long Beach so expensive?
It’s all about supply and demand. We have a shortage of real estate listings currently for sale and that is causing prices to rise. I think Long Beach is still an affordable city compared to other beach cities like Huntington Beach, Seal Beach, and Newport Beach.
Summary: Long Beach Real Estate Housing Prices: March 2024 Report
In December 2024, Long Beach, California Real Estate Update
- What are Long Beach Homes selling for in 2024? You can check out my web story on Long Beach housing prices in March 2024 or read below:
- Overall, the average selling price is $1,026,269 for Long Beach homes
- It takes 27 days for a house to sell in the Long Beach real estate market (this is good for buyers and sellers to know)
- 1,311 single family homes have sold and closed escrow in Long Beach, California which is DOWN 23.60% from 2022. (this could be from higher interest rates)
- How motivated are homeowners in Long Beach? Homes are selling for 100.40% of the listed price. (our buyers like to know what to offer on a home). This is called the List to Sales ratio and gives them an idea of what to offer. If there are multiple offers, then, you can gauge your offer with this statistic. We can talk more about that in our buyer consultation.
- When we work together I can show you the differences so you can make the best decision on what to offer to get the house that you really want.
- Current Long Beach Home Prices Range from $499k to $7,250,000. You can view all real estate listings by all real estae companies on my real estate website for Long Beach homes for sale.
- Watch my video on how to take advantage of my home search tool and save time searching online at https://youtu.be/TFSKQzKvjn4
- Let’s meet and build a strategy to find you a house that you really want, Call Jay Valento, California Realtor at 562-413-7655
- Request a free copy of this report and review the details of Long Beach Real Estate Market Update March 2024 by Jay Valento.
- Review Long Beach housing prices in February 2024
- Long Beach Condos Pricing February 2024
If you are buying a condo in Long Beach, watch this video:
This is a video about the Long Beach real estate market for condos and townhomes. To get a deeper understanding, check out my web story on Long Beach condo prices.
Recent Web Stories Blog Posts by Jay Valento
Condos for Sale on Pacific Coast Highway Huntington Beach
Long Beach CA Housing Market March 2024
Long Beach CA Condos Pricing February 2024 Prices
How can we help you find a house or condo to invest in 2024?
Fill out the information below and we contact you to set up a time to talk about your real estate plans for buying or selling a property in Southern California.