Market Update for May 2025
Market Report for May, 2025
Nationally:
U.S. existing-home sales dipped 0.5% month-over-month and 2.0% year over- year to a seasonally adjusted annual rate of 4.00 million units, according to the National Association of REALTORS® (NAR). Sales increased in the Midwest, decreased in the West and Northeast, and were unchanged in the South. Year-over-year, sales were down in every region except the Northeast.
New Listings decreased 18.6 percent for Single Family homes and 6.1
percent for Townhouse-Condo homes. Pending Sales decreased 44.0
percent for Single Family homes and 51.0 percent for Townhouse-Condo
homes. Inventory increased 22.4 percent for Single Family homes and 53.8
percent for Townhouse-Condo homes.
Median Sales Price decreased 2.1 percent to $1,185,000 for Single Family
homes and 0.6 percent to $715,000 for Townhouse-Condo homes. Days on
Market increased 19.0 percent for Single Family homes and 30.4 percent
for Townhouse-Condo homes. Months Supply of Inventory increased 25.0
percent for Single Family homes and 60.9 percent for Townhouse-Condo
homes.
There were 1.45 million units actively for sale heading into May, a 9.0%
increase from the previous month and a 20.8% improvement from the same
time last year, for a 4.4-month supply at the current sales pace, according
to NAR. The median existing-home price edged up 1.8% year-over-year to
$414,000 as of last measure, the 22nd consecutive month of annual price
increases and a new record high for the month.
Below are local market prices in Long Beach for May:
Average Sales Price in May for SFR: $1,058,274. A decrease of over 5.6% since one year ago.
Average Sales Price in May for Condo: $575,462. A decrease of 1.8% from one year ago.
 |
| Chart of May 2025 Long Beach prices |
No comments:
Post a Comment