8/03/2010

Houses in Long Beach for July: Prices Softer, Sales Volume Up

July in Long Beach was a pretty busy month for single family home sales but it also saw a lowering of the median price: 196 sold at an overall median of $360,000, down from $380,000 and $375,000 from the prior two months, and down 5% from July, 2009.  The July average for sold-price-to-list-price was 98%, with a low of 72%.

The peak for the last 12 months was $415,000 in November, 2009. The median list price, however, has steadily increased since December, 2009, and is up 4% from one year ago, with 1,234 single family homes currently on the market citywide. And, total number of SFRs in escrow is up 42% since one year ago and at 276 houses, is at the highest number under contract in the last 12 months. But, expired properties in all price ranges were at the highest number in the last 12 months, while the months' supply of inventory is at the lowest in the last 12 months. It has never been more important to price the house right and make the right improvements for showing.

A quick search on the MLS shows that today, there are 528 single family houses in escrow, and 434 of them are under $500,000, and 94 are listed over $500,001.  See the entire report for single family houses.

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