Jay Valento, April 11th, 2020
Everyone wants to know what is happening in the Long Beach housing market in 2020.
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.
- 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.
[callout]Follow the Long Beach real estate market radar to really track movements monthly in the city.[/callout]