I wanted to share with you the Long Beach real estate market radar trends for 2024. 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 2024
The data is updated daily directly from my membership in the California Regional Multiple Listing service. This is the most accurate data available.
Switch property types from Long Beach houses to condos in Long Beach for current data. I hope my Long Beach Real Estate Market Report gives you some insights into the real estate industry.
Compare Long Beach Housing Market 2024 for Homes, Condos & Townhomes
| Real Estate Market Trends | Long Beach Homes | Long Beach Condos | Townhomes | Own Your Owns |
|---|---|---|---|---|
| Average Selling Prices | $1,093,655 | $567,972 | $851,066 | $270,778 |
| List to Sale Ratio: | 101.40% | 99.70% | 100.60% | 96.60% |
| What is the average price per square foot? | $718 | $607 | $538 | $491.00 |
| Months of Supply of Inventory Available for Sale | 2.00 | 3.20 | 2.90 | 5.40 |
| Number of Properties Sold Year to Date: | 650 | 364 | 32 | 9 |
| How many days does it take to sell a house vs condo? | 23 | 39 | 33 | 59 |
| Active Listings for Sale: |
Data Resource: California Regional MLS
FAQS: Long Beach Real Estate Market
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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.
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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..
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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.
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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.
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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 about Long Beach neighborhoods, condominium communities, gated communities, and more local information for you. Check out my Long Beach special features pages to find the right house or condo for you quickly.
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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.
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Which 3 lenders do you recommend that I should call about getting pre-approved for financing a home purchase?
1. Mary Shuck of Movement Mortgage at 562-388-4197
2. Brian Shigekium of Chase Bank at 714-336-5248
3. Cody Olson of Secure Choice Lending at 951-455-6310
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 Long Beach real estate market plans for buying or selling a property in Southern California.
