Today, we are looking at sales of Long Beach Condos to understand pricing trends for October 2018 Long Beach real estate. Are the Long Beach condos sales and townhome sales prices up in October 2018 or down or stable?
What are the Long Beach condos sales in October 2018?
The average selling price for Long Beach condos in October 2018 is $417,391. That up 5.9% from a year ago at this time. Long Beach townhomes are selling for more at $584,223.
How Many Days on Market Does it Take to Sell a Long Beach Condo Vs a Townhome in October 2018?
The average days on market it takes to sell a Long Beach condos is 31 days that’s down from 37 days in 2017. It is taking an average of 34 days to sell a Long Beach townhome in October 2018 verse 44 days in October 2017.
Number of Months of Supply Helps You Determine How Hot is a Real Estate Market
Typically, 3 months of inventory is for a normal real estate market. For the city of Long Beach, in October 2018, we had 2.1 months of Long Beach condos for sale and 2 months of townhomes available. The lower months of supply suggest a shortage of available condos currently for sale.
What is the Average Price Per Square Foot of Long Beach Condos vs Townhomes?
Long Beach condos are selling for $455 per square foot that’s UP 10.70% over 2017 numbers. Long Beach townhomes are selling for $371 a square foot. That’s down a little bit from last year.
What is the List to Sales Price Ratio Helps You Answer the Question of What Should I Offer
This is the percentage of the listed price that condos and townhomes are selling for in Long Beach. 100% equals full price offers. So, let’s look at the numbers. Long Beach condos in October 2018 are selling for 99.30% of the listed price verse Long Beach townhomes that are selling for 99% of the listed.
Almost full price.
From the numbers it doesn’t look like there is much flexibility in from the owners of condominiums or townhomes in October 2018 in pricing.
Video of Long Beach Condos Sales October 2018 vs Long Beach Townhomes
I created a quick video of the condo sales and townhome sales to give you some insights into the Long Beach real estate marketplace.