The average price of a single family home in Long Beach continued upward as of today's (June 1) available data--12.6% higher at an average price of $809,637. See how it compares to the previous years in May. But other things are part of this picture also: Total closed sales are down 46% from last June--107 for the month; current listings down 25% from last year; sales prices are still on average within less than 1% of the original asking price; inventory, one of the keys to this situation, is consistently low at 2 months, meaning if no new inventory came on the market all property would be gone within two months. Average days on market also decreased from last year.
Lakewood has a similar story: average home price is up 9% to $657,347; total closed sales down 39% at 43 sales for the month; current listings are down 42% at 51 listings total; closed prices are with 1.6% of original asking price; inventory is at .9% months, less than one month! average of 14 days on market.
Bellflower: average sales price of SFR up by 4% at $575,000
Cerritos: average SFR price up to $760,000, an increase of 6% from lst year.
Huntington Beach: average SFR price down 1.7% to $1,072,000 (typical of the million + category).
Cypress: average SFR price up 18% at $855,000.
So the story of the under one million market is that prices have trended upward, and the pandemic effects are present in showing properties, open houses, amount of inventory, but not in market prices so far.
If you are thinking of selling, it's coming into the ideal time of year to be on the market.
Please contact me or go to www.juliahuntsman.com for a quick online estimate of your home's value.
Julia Huntsman, REALTOR, Broker |
www.juliahuntsman.com |
562-896-2609 |
California Lic. #01188996
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