January 19, 2018

January 2018 Long Beach Real Estate Market Report

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The real estate market in Long Beach ended with very low inventory -- less than a two month supply -- and continued high demand, meaning the city has continued to experience a strong seller's market this winter. 


New listings for single family homes in December 2017 were at 107, a 9.3% decline from the previous year. Meanwhile single family pending sales in December declined by 34.7% from the previous December and closed sales declined by 27.7%.


As of December 2017, the most recent statistical period, the following numbers apply:


Single Family Homes


Number of homes for sale: 295


Average Time on the Market: 36 Days


Median Sales Price: $587,750


Months Supply of Inventory: 1.7 months


Townhouses/Condos


Number of homes for sale: 153


Average Time on the Market: 31 Days


Median Sales Price: $367,500


Months Supply of Inventory: 1.5 months




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