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| Local Market Update Stats for Long Beach |
Single-Family Homes
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New Listings: 123, down 9.6% from last year.
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Pending Sales: 58, a steep 56.7% decline, indicating slower buyer activity.
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Closed Sales: 134, up 7.2%, suggesting deals are still completing despite fewer pendings.
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Days on Market: 35 days, up 16.7% — homes are taking longer to sell.
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Median Sales Price: $950,000, down 5% year-over-year.
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Average Sales Price: $1,144,568, a modest 3.5% increase, showing strength in higher-end sales.
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Percent of List Price Received: 99.0%, a small 1% decrease, showing mild softening in negotiation power.
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Inventory: 329 homes, 13.4% higher, improving buyer options.
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Months of Supply: 3.0 months, up 20%, signaling a gradual move toward a more balanced market.
Insight: The Long Beach single-family market shows mixed conditions — fewer new listings and pending sales point to cooling momentum, but higher inventory and steady prices show resilience. Sellers face longer market times, but strong sale prices indicate underlying buyer demand remains.
Condo Market
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New Listings: 87, up 4.8%, slightly more sellers entering the market.
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Pending Sales: 40, down sharply 51.8%, revealing a significant buyer slowdown.
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Closed Sales: 72, down 7.7%.
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Days on Market: 50 days, up 61.3% — condos are taking much longer to sell.
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Median Sales Price: $520,000, up 1.5%, holding steady.
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Average Sales Price: $584,050, up 2.7%, showing stable values.
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Percent of List Price Received: 96.0%, down 2.8%, suggesting more negotiation room.
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Inventory: 322 units, up 12.6%, offering buyers more selection.
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Months of Supply: 5.2 months, up 23.8%, nearing a buyer’s market.
Insight: The Long Beach condo market is cooling faster than the single-family sector. Buyers have more leverage, listings are increasing, and time on market is lengthening — yet prices remain stable, reflecting overall economic steadiness rather than distress.
Overall Trend
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Both segments show rising inventory and longer selling times, a sign of normalization after prior hot years.
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Prices are steady, not collapsing — indicating market resilience amid slower sales.
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For buyers: more options and negotiating power.
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For sellers: pricing competitively and working with an experienced agent will be crucial this fall.
Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996
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