Jay Valento, April 11th, 2020
Today, we are going to look at Long Beach real estate market March 2020 verse 2019. Â
Everyone wants to know what is happening in the Long Beach housing market in 2020.Â
Let’s look at the Long Beach Real Estate Market March 2020 Numbers
Long Beach Houses:
- The average selling price of single family homes in March 2020 is $768,397. That is up 10.20% from 2019. Prices in 2019 was at $697,241 for a house in Long Beach.
- Let’s see how long does it take to sell home in Long Beach in 2020. The numbers show that it takes 30 days to sell a Long Beach house from the time it was listed until it goes under contract with an accepted offer. In 2019, it took only 42 days.Â
- So, the inventory of single family homes in Long Beach is lower in March 2020 at 1.6 months of supply which is 36.00% LOWER than March 2019. (Seller Market)
Long Beach Condos:
- Average selling price of Long Beach condos is $448,538. That is up 7.3% from 2019 when the price was $418,209
- How many days does it take to sell a condo, on average, it takes 41. That is down 8.9% over 2019 when it was 47 days.
- Are we in a buyer’s market or seller’s market? Prior to the CoronaVirus, Long Beach was in a seller’s market with limited inventory. In March 2020, Long Beach has 2.50 months of inventory which is up over 2019 that had 2.4 months. Not too much of a difference.
Follow the Long Beach real estate market radar to really track movements monthly in the city.