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
