5/09/2012

How Many Single Family Homes Under $300,000 in Long Beach?

Since this Spring of last year, the last time I wrote this post, not as many as last year.

The great majority of residential properties included here are single family houses and condominiums; the list also includes lofts (a separate MLS designation), own-your-owns and co-ops. The grand total from SoCalMLS is 340 listed as "active", regardless of selling condition (short sale, REO, probate, etc.), or the amount of HOA dues in the case of common area properties.

This inventory is quite different from one year ago when there were a total of 618  on the market.

The breakdown includes the following:

  • 156 (down from 295 last year)  are single family houses, about 90 of which are in North Long, and the rest in West Long Beach, Wrigley, Alamitos Beach, Rose Park, and their adjacent neighborhoods.
  • No lofts, and 12 (up from 7 last year) are own-your-owns or coops. More of the OYOs and coops have converted to condos, so fewer and fewer of those will remain in inventory over time.
  • 172 (down from 314) are condominiums, including the Marina Pacifica complex, Belmont Heights, Bluff Park and adjacent neighborhoods, The Lakes on Spring St. The majority of condominiums are located in the 90802 zip code which includes Alamitos Beach, downtown Long Beach, one-bedrooms in Ocean Blvd. luxury buildings. The spread of condo in this range is similar to before.
There is opportunity for many people here right now--including 1st time homebuyers, second home buyers, and investors. Investors, in fact, are making up a good 30% of sales in the lower price ranges.  There continues to be some critical market factors, for instance, FHA approved condos have diminished greatly in number, and continuing low interest rates have finally encouraged buyers of all types, creating multiple offers in many situations. Inventory is down, so if you're are potential seller, don't let time pass you by, I can help.

For a property search of these areas go to http://www.juliahuntsman.com/ at the property search tab, where all types of properties, including 2,3, and 4 units, may be searched throughout Long Beach, Los Angeles County and Orange County and all cities in Southern California.

Are you thinking of selling? Please contact me.


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