I wanted to share with you the Long Beach real estate market radar trends for 2023. Will higher interest rates affect housing prices in 2024? What is happening in our local market, anyway?!
So I researched all Long Beach homes, condos, and townhomes to give you a breakdown by price and other helpful statistics for a savvy buyer or seller like you.
Long Beach Real Estate Market Trends for 2023 Help You in 2024
The data is updated daily directly from my membership in the California Regional Multiple Listing service. This is the most accurate data available.
Compare Long Beach Housing Market 2023 for Homes, Condos & Townhomes
|Real Estate Market Trends
|Long Beach Homes
|Long Beach Condos
|Own Your Owns
|Average Selling Prices
|List to Sale Ratio:
|What is the average price per square foot?
|Months of Supply of Inventory Available for Sale
|Number of Properties Sold Year to Date:
|How many days does it take to sell a house vs condo?
|Active Listings for Sale:
Frequently Asked Questions of Trends
Will house prices go up in 2024 in Long Beach, California?
I think based on 2024 trends in pricing, housing prices in Long Beach will stabilize. There are some neighborhoods in the city of Los Angeles where prices have gone up by 5 to 6%. Long Beach home prices went up in 2023 by 1.90% citywide.
Is 2024 a good year to buy a house?
Yes. It is all about the interest rates. Please get “pre-approval under-written” for a loan. It works to your benefit in a multiple-offer situation because all you need is an appraisal at that point to get a loan. Other people who just got “pre-qualified or pre-approved” and have not filled out all of their paperwork can’t compete against your offer. After we submit an offer on your behalf, I will have your lender call the listing agent to seal the deal. Let’s meet and talk about details and strategies..
Here are two lenders to consider: Mary Shuck of Movement Mortgage at 562-388-4197; and Joel Gagarin of Union Bank at 714-651-3708. I know a lot of reliable lenders.
Is the housing market going to crash in Southern California?
I have a lot of clients and visitors to our website asking this question. The last crash of the market was in 2008 when the stock market crashed. At that time, home buyers were getting bad loans with false documents and were being laid off from their jobs due to the stock market crash. The combination caused foreclosures everywhere.
During the pandemic, there was a moratorium on foreclosures and we have not seen a lot of those. I expect housing prices in 2024 to continue to rise a little but stabilize. The way to track this is to subscribe to my YouTube channel where I create monthly statistics videos and local content which is a great way to follow Long Beach housing market predictions.
What is the best way to be the winning offer in a multiple-offer situation on a house?
I suggest reading my article “How My Clients Won in a Bidding War for a Downtown Long Beach Condo?” In the article, I talk about strategy.
Do you recommend searching for homes on Zillow Long Beach?
No. Zillow is an advertising and marketing company. They will sell your data. I have local data on RedWagonTeam.com about Long Beach neighborhoods, condominium communities, gated communities, and more local information for you.
Check out my Long Beach special features pages or lifestyle search to find the right house or condo for you quickly.
Why is Long Beach so expensive?
It’s all about supply and demand. We have a shortage of real estate listings currently for sale and that is causing prices to rise. I think Long Beach is still an affordable city compared to other beach cities like Huntington Beach, Seal Beach, and Newport Beach.
Summary: Long Beach Real Estate Housing Prices: December 2023 Report
In December 2023, Long Beach, California Real Estate Update
- What are Long Beach Homes selling for in 2023? You can check out my web story on Long Beach housing prices in December 2023 or read below:
- Overall, the average selling price is $1,048,185. Long Beach homes are UP 1.90% compared to December 2022
- It takes 27 days for a house to sell in the Long Beach real estate market which is UP 35.00% over 2022 when it took 20 days. (this is good for buyers and sellers to know)
- 1,311 single family homes have sold and closed escrow in Long Beach, California which is DOWN 23.60% from 2022. (this could be from higher interest rates)
- How motivated are homeowners in Long Beach? Homes are selling for 101.10% of the listed price. That is DOWN 1.30% over 2022. (my buyers like to know what to offer on a home. This is called the List to Sales ratio and gives them an idea of what to offer. If there are multiple offers, then, you can gauge your offer with this statistic. We can talk more about that in our buyer consultation.
- When we work together I can show you the differences so you can make the best decision on what to offer to get the house that you really want.
- Current Long Beach Home Prices Range from $499k to $7,250,000. You can view all real estate listings by all real estae companies on my real estate website for Long Beach homes for sale.
- Watch my video on how to take advantage of my home search tool and save time searching online at https://youtu.be/TFSKQzKvjn4
- Let’s meet and build a strategy to find you a house that you really want, Call Jay Valento, Realtor at 562-413-7655
- Request a free copy of this report and review the details of Long Beach Real Estate Market Update December 2023 by Jay Valento.
If you are thinking about buying or selling Long Beach Houses, watch this video:
In this quick video, I discuss the Long Beach real estate market trends for single-family homes.
If you are buying a condo in Long Beach, watch this video:
This is a video about the Long Beach real estate market for condos and townhomes. To get a deeper understanding, check out my web story on Long Beach condo prices.
Recent Web Stories Blog Posts by Jay Valento
How can we help you find a house or condo to invest in 2024?
Fill out the information below and we contact you to set up a time to talk about your real estate plans for buying or selling a property in Southern California.