Do you want to know the Long Beach Condos Average Selling Prices October 2021? If so, this is the blog post and video you want to watch. I will show you the average selling prices of condos in Long Beach, California.
You can use these statistics to determine if now is a good time to buy or sell or not.
Average Selling Prices of Long Beach Condos in October 2021
The average selling price gives you an idea of the values. Right now, the average selling price of all Long Beach condos is $517,050. That represents a price increase of 12.60% over the October 2020 price of $459,364.
Days on Market to Sell a Long Beach Condo
The second statistic we look at is the average days on market which tells us how long it takes for condos to sell once they have been listed on today’s market.
It also gives us an idea of how quickly condos are moving right now and whether there might be more inventory than demand causing prices to drop or vice versa causing prices to rise as buyers compete over limited inventory.
Months of Supply or Inventory of Condos for Sale
How much inventory is there available for sale? This is reflected in months of supply. In October 2021, there was 1.5 months of inventory. That is down 51.60% from October 2020.
That means there is a shortage of condos actively for sale. You view them on my website for Long Beach condos for sale and other sites.
But, there are owners that want to sell their condos in the city that are not actively for sale. We call this “off the market” inventory. How do you see that?
I prefer to tell you in person how I tap that market for you. It takes a lot of time and effort on my part. If you can’t find what you are looking for, call me.
Average Price Per Square Foot
The average price per square foot city wide for Long Beach condos is $536. That is up 9.80% from 2020.
Can you multiply $536 times the square footage of the condo that you like? No. This is a citywide number and the condo you like in Long Beach, which is comped to similar condos nearby it might have a higher or lower price per square foot.
Percentage of the Listed Price
Finally, we look at percentage change from one year ago which shows us whether home values have gone up or down over the past year giving us another indication of where real estate trends may be headed next month, next quarter, etc…
Click here if you want more information about buying a condo in Long Beach!
Video of Long Beach Condos Average Selling Prices October 2021
Video of Long Beach condos statistics that I recorded earlier today.
Summary of Condo Housing Prices October 2021
- Average selling price of condos is $517,050
- Average days on market from list to opening escrow with an accepted offer is 26 days
- Months of Supply of Inventory of condos actively for sale 1.50 months
- Total closed sales of condos year to date, January 2021 to October 2021, is 1,157
- Average price per square foot is $536.00
- Percentage of the listed price that condos sell for is 101.70%. Expect to pay 1.70% over the listed price when shopping for a condo in Long Beach, California.
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