Today, I’m going to cover the Long Beach real estate trends October 2019 verse 2018. In the next few days, I will be covering pricing for each of the 35 Long Beach neighborhoods for houses and I will have pricing for condos as well.
Everybody is asking me what is happening in the Long Beach real estate marketplace. Are home prices going UP, DOWN or is the market stable right now?
In the article below, I will share with you the market trends for Long Beach condos citywide so you can get an idea of what happening besides houses.
So, I created a video at the bottom of this blog post on the numbers just in case you want to watch the movie. Sorry, no popcorn provided.
What is the Long Beach Real Estate Trends October 2019?
The average selling price of Long Beach real estate is $734,975. That is UP 1.00% from October 2018.
It takes 37 days of marketing your home online and offline in Long Beach to generate an offer. Accept it and open escrow. In October 2018, it took 33 days. Not much of a market trend here in Days on the Market year over year.
Inventory of single-family Long Beach homes is 2.40 months of houses for sale. The same as October 2018.
Long Beach homes are selling for 99.50% of the listed price.
|Year to Date, January 1st, 2019 to October 31, 2019, 1,749 single-family homes have sold. That is DOWN 0.1% from October 2018 Numbers at 1,751 homes sales. Just 2 properties.|
How is the Long Beach Condos Trends for October 2019?
|The average selling price of Long Beach condos is $425.247. That is UP 1.8% from October 2018 when the price was $417,548.|
|Average days on market to sell a Long Beach condo is 38. In 2018, it was lower at 31 days.|
|How many months of condominiums are currently available? There are 2.7 months of inventory in 2019 verse only 2.2 months in 2018. That could explain why condos were selling in 31 days. Lower inventory with high demand means properties sell faster and usually for the listed price or above.|
|In October 2018, Long Beach condos were selling for full price at 100.0% of the listed price. In October 2019, they are selling for 99.40% of the list. Not much of a difference.|
|Total Long Beach Condos that have sold year to date is 795 in 2019. That is DOWN from 2018 when 897 condos sold.|
How is the Long Beach Townhomes Market Trends?
A lot of times we tend to swap the language of condos and townhomes in the same sentence. I consider Long Beach condos to be stackable. Meaning one and top of another verse townhomes that stand alone like a single-family home.
Review Long Beach townhomes pricing trends below:
|The average selling price of Long Beach townhomes is at $625,697 in 2019 verse $584,223 in 2018. That is a price increase of 7.10% in townhome pricing.|
|Average days on market to sell a Long Beach townhome is 30 days. In 2018, it was 34 days.|
|There are 2.20 months of condos for sale in Long Beach in 2019 verse 1.90% in 2018.|
|Condos are selling for 100% of the listed price…hot market. In 2018, they were selling for 99.50%.|
|Total number of Long Beach townhomes that sold 66 in 2019 vers 65 in 2018.|
[callout]Note: Data research from California Regional Multiple Listing Service (CRMLS). We do not check to price at the advertising magazine company called Zillow. Always contact a real estate professional for accurate pricing. Zillow can be off by as much as 30% in pricing. That’s a lot, right?[/callout]
Video of Long Beach Real Estate Trends October 2019 Statistics
As a local Long Beach Realtor®, I will share with you the overall view of the housing prices so you can gather some wisdom to make good investment decisions.
And a few extra statistics not covered in the article above. Popcorn not provided…sorry.
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