Let’s review going to cover the Long Beach condo pricing trends in October 2019. Is now a good time to invest in a Long Beach condo?
If so, which condos are the hottest in Long Beach?
Is the Long Beach Condos Market Heating Up?
A majority of visitors in a recent poll that I took on this website, people are looking to buy condominiums over houses and live the urban lifestyle in Long Beach and the surrounding cities.
An Overall View of the Long Beach Condo Market for October 2019
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What is the average selling price for condominiums in Long Beach? The average selling price of Long Beach condos is $425.247. That is UP 1.8% from October 2018 when the price was $417,548.
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Average days on market to sell a Long Beach condo is 38. In 2018, it was lower at 31 days.
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How many months of condominiums are currently available? There are 2.7 months of inventory in 2019 verse only 2.2 months in 2018. That could explain why condos were selling in 31 days. Lower inventory with high demand means properties sell faster and usually for the listed price or above.
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In October 2018, Long Beach condos were selling for full price at 100.0% of the listed price. In October 2019, they are selling for 99.40% of the list. Not much of a difference.
Total Long Beach Condos that have sold year to date is 795 in 2019. That is DOWN from 2018 when 897 condos sold.
Long Beach Townhomes are Selling for $200,000 More than Long Beach Condos
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Townhomes are selling for $200,000 above the condos and tend to be bigger in size. The average selling price of Long Beach townhouses is at $625,697 in 2019 verse $584,223 in 2018. That is a price increase of 7.10% in townhome pricing.
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Average days on market to sell a Long Beach townhome is 30 days. In 2018, it was 34 days.
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There are 2.20 months of condos for sale in Long Beach in 2019 verse 1.90% in 2018.
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Condos are selling for 100% of the listed price…hot market. In 2018, they were selling for 99.50%.
Long Beach Condo Pricing for the Top 20 Hottest Selling Condos
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Further Reference, I suggest
Read my blog post about Long Beach Real Estate Statistics for October 2019 that covers single-family homes and more insights in the marketplace.
