Every month, people ask me how is the Long Beach real estate market. So to save them and you some time trying to figure it out. I decided to write an indepth article on trends Long Beach housing prices December 2019.
What was the Hottest Long Beach Property Type in 2019?
Let’s look at all three property types in Long Beach: houses, condos and townhomes to see who was the winner. I created this chart so you quickly look at the numbers:
Statistics Houses Condos Townhomes Average Selling Prices $737,501 $425,188 $631,921 How Many Days Does it Take to Sell a Property? 37 39 28 How Many Months of Inventory are Available? 2.30 2.70 2.00 Average Price Per Square Foot $487 $466 $415 Total Sales 2,075 962 79 List to Sale Ratio 99.50% 99.50% 100% 2019 Prices Up, Stable or Down UP 1.40% UP 1.10% UP 9.20%
Quick Long Beach Housing Prices December 2019 Summary
- Average selling price – an average of all Long Beach homes, condos or townhomes that sold from January 1st to December 31st, 2019. You can see from our final row that house prices were up 1.4% overall. Long Beach condos were up 1.1% and townhomes were up the most at 9.2% in price.
- How long does it take to sell a Long Beach home? This helps you as a buyer to seller to see if properties are selling quickly under 30 days or less. Inventory and pricing may be an issue. Long Beach homes are taking 37 days to sell, condos are taking 39 and towhomes are taking 28.
Long Beach Townhomes Prices Soar in 2019 Up 9.20%
Long Beach townhomes in 2018, were selling for $578,747. In 2019, the price shot up to $631,921. The reason for this is that there is a shortage of townhouses for sale overall.
We can see this in the row called “Total Sales”. There were only 79 sales of Long Beach townhomes verse 962 condos that sold. When inventory is down in a particular property type and demand is high, prices go up.