How Much Froth in the Housing Market is There?

Mortgage interest rates have been volatile, going up and down on a daily basis--today's rate (August 17) is at 5.22% per https://thefinancials.com for a 30-year mortgage, but recently it was up past 6%.  This has been affecting buyer behavior a lot for the purchase market, and has been slowing the sales volume for sellers.  However, while market time is longer than it was in the crazy pandemic purchase market, it is still not a buyer's market, just a somewhat longer selling time for sellers. 

Credit: Steven Thomas--Housing Reports

Price reductions in Los Angeles County equals 35% of market listings as of last week; Orange County reductions at 39% of market listings last week, and so on for Southern California counties. 

What counts right now for sellers is really taking stock of how you as a seller compare to your nearby home sales in terms of curb appeal, views, upgrades, remodels, and showing condition, on a more specific level than has been happening since before the pandemic price surge.  There are more listings on the market, but still not at the "normal" 6 month inventory level, and in fact, the Long Beach inventory level for July single family homes and condominiums was still only 1.9 months! On a national basis, it's more like 3 months--so in spite of the media attention given to some kind of housing debacle, there is in fact still a demand for inventory.  Increased interest rates have definitely affected buyers--the super low rates are not around, and the higher rates have pushed up monthly mortgage costs that many people cannot absorb.

 For a more complete weekly analysis of the Southern California real estate market, visit Orange County economist Steven Thomas at his weekly show.

Local market update for average single family home prices in July by zip code: 

Long Beach

90803 - $1,665,375

90815 - $1,008,650

90808 - $1,093,065

90806 - $728,800

Lakewood 

90712 - $817,938 

90713 - $855,535 

Signal Hill

$1,170,000 

Cerritos

$1,022,733

If you are thinking of selling, or would just like to know the market pricing for your home in the next 30-60 days, please contact me, I will be happy to assist you in person or online.  

 

Julia Huntsman, REALTOR, Broker | http://www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

Average Selling Prices for Long Beach, Lakewood, Cerritos, Huntington Beach plus 4 Counties, October 2021

 All these average prices are for single family homes for the month of October, 2021, based on data from CRMLS Infosparks:

Graph also includes Riverside County.  As the market moves increasingly towards the "luxury" market (home prices over $1,000,000), what will happen to average prices in the lower priced areas?  Already San Bernardino has risen from an average price of about $350,000 in 2019 to over $500,000--the average home price for Los Angeles County as a whole exceeds the average for the entire local MLS system (CRMLS).  Average days on market is well under 30 days for these figures.

October, 2021

Long Beach
 $926,773                 Avg Days on Market :20

Lakewood
$774,909                  Avg Days on Market :14

Cerritos
$1,034,148               Avg Days on Market :15

Huntington Beach
$1,372,754               Avg Days on Market :18

Cypress

$1,026,296               Avg Days on Market: 12

Los Alamitos

$1,129,167               Avg Days on Market: 14 

 

Los Angeles County
$1,309,422 (4th highest average price in last 5 years, all in 2021)

San Bernardino County
$529,915   (2nd highest average price in last 5 years)

Orange County
$1,518,637 (2nd highest average price in last 5 years)

 

 For a market evaluation of your property (house, condo, multiple units), please contact me or go directly to my website for your own automated estimate delivered directly to your inbox.

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

The Pandemic Has not Lowered Prices, Nor Kept Buyers from Buying

 Realtor.com just came out with its study of the 10 hottest zip code markets in the U.S., based on turnover and number of views of the property.   (See links below.)

At the top of the list is Colorado Springs, followed by the rest which are located outside of California.  

But overall, the pandemic market has not lowered prices, nor kept buyers from buying.  

 Locally, zip code 90803 (Long Beach, Naples, Belmont Shore, etc.), one of the most expensive certainly in Long Beach and elsewhere, had an average sales price of $1,473,357 ending in July, but turnover has slowed somewhat for that price range, over 80 days average, 60 days median, on the market before going into escrow.  

By contrast, east Long Beach including Park Estates and Los Altos areas was a median of 10 days on the market, 27 average days on market, at average sales price of 870,877.

Going to west Long Beach,  to 90810, the average sales price was $519,045 and houses sold on average in 21 days,

 Going to north Long Beach, to 90805, the July average sales price was $539,559 with average days on market at 15 days.

 So with lower priced markets that are more affordable, the days on market is gradually shorter.

Overall, the entire City of Long Beach finished July with only 2 months supply of inventory, continuing the demand for more listings to accommodate the buyers who are looking and constantly competing with each other in this market.   Nearby cities of Cerritos, Bellflower, and Lakewood are in the same low inventory crunch, less than 2 months of inventory.

Compare the Long Beach prices (lower compared to other  coastal cities) to the hot zip codes in the Realtor.com study:   https://www.realtor.com/research/hottest-zip-codes-2020/ where the median list prices are under $644,000!!  And yet, buyers throughout Southern California are looking for sellers who want to sell.  

Will homes sales continue to defy expectations?  Here's more from chief economist Lawrence Yun with National Association of Realtors,  Defying Expectations

If you or someone you know is interested in selling, I can show you how to get your house on the market and get it sold.

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

June 2020 Housing Market in and Around Long Beach Area--Inventory and Price

The median price (same number above, same number below midpoint) lowered to $702,000 for a single family home in June, but this is well above December's $652,500.  The average days on

market was significantly lower than December's:  25 days in June, although the overall housing supply for Long Beach increased to 2 months' worth (still low, however). 

The median price for a Long Beach condo in June was $398,000, average price $454,000--this varies greatly depending on size and neighborhood.  The average days on market increased to 39 days in June,  and the inventory has increased significantly to 3 months supply, about the same amount as last October. 

In the last 30 days, 158 single family homes sold in Long Beach, most selling in 30 days or less, and all except 4 sold within 90 days, including the million plus homes.  Most buyers are looking below $600,000, which means Wrigley, west side of Long Beach, some in California Heights and others in North Long Beach.  Belmont Heights is typically not below $700,000 right now.

Lakewood single family median price dropped a little, but at $630,000 is still higher than 2019, but only 39 houses closed escrow in the last 30 days!  Which means a serious inventory shortage in Lakewood, at 1.2 months supply!!  So anyone who wants to sell in Lakewood now, it's time to consider!!!  There are currently 91 in escrow, and only 30 active listings on the market there ($529000+ starting list price).  So there should be a higher number of future closings, but there's opportunity to sellers with only 30 active on the market.

Cerritos:  Only 20 houses closed escrow in the last 30 days.  Sales price starts at $600,000.  Currently there are 32 homes in escrow, and 17 active listings available, starting at $689,000 and up to $2.2 million.

No matter where we look, it's the same story, we need more listings, because there are buyers who want to buy. 

The part of the market that is taking longer to sell is the over $1million market, with 256 homes on the market at an average of 137 days on the market for homes in Rossmoor, Long Beach, Lakewood, Cerritos, Signal Hill and Huntington Beach market.  More are very recently coming on the market in the last few days, so if this is your price range, there's lots of opportunity here!!!

Have some questions?  go to http://www.juliahuntsman.com/FAQs.html.  If you'd like another answer, just get in touch with me.  I'll try to help!

Curious about what your home might sell for?  Let me know, I'll send you my professional estimate based on 25+ years as a Realtor.

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

May Market Mayhem - State and Local

Statewide, California home sales fell to their lowest level since November 2007.  May sales of single family homes was down over 41% from one year ago, and down 13% from April of this year.  However, pending home sales (properties in escrow) were up  67% in May.

Part of the problem, besides the general effect of pandemic slowdown, is housing supply, per CAR:

"All major regions recorded a decrease in housing supply of more than 25 percent, with both the Southern California and the Central Valley regions falling by more than 33 percent. All counties in Southern California, except Ventura, declined 36 percent or more from last year, with San Diego dropping the most at 42.7 percent. The Bay Area also experienced a significant housing supply decline, but at a relatively smaller degree compared to the Southland. Eight of the nine Bay Area counties recorded a decline in active listings on a year-over-year basis in May, and six had a decrease of more than 25 percent. San Francisco was the only county in the region with an increase in active listings from last year."

Additionally, SoCal home price unchanged: 

"Median prices continued to dip in May from last year in the Central Coast and the Bay Area but inched up slightly in the Central Valley region. The median home price was virtually unchanged in Southern California."  

Locally, prices continue upward, and anecdotally, buyers continue to experience multiple offer situations.

Long Beach median single family home price         $740,000, up 13%

Lakewood median single family home price            $649,000, up 8%

Bellflower median single family home price            $575,000, up 4%

Signal Hill median single family home price            $1,215,000

Rossmoor median single family home price              $1,349,000

Cerritos median single fmily home price                    $765,000, up 6%

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

The May Real Estate Market for Long Beach and Nearby Cities

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

The April, 2020 Market in Long Beach, Bellflower, Lakewood and Cerritos

In spite of 2020's global health and economic pandemic issues, the Southern California housing market continues to move on. 

As of the end of April, the Long Beach average single family home price increased almost by 9% compared to one year ago.  The Cerritos single family home price increased by over 21%, Bellflower increased over 20%, while Lakewood increased by 4%. 

But what else is happening?  While the price went up, the supply of inventory compared to April 2019 continued downward, as it was already doing for months.  Bellflower's inventory decreased by 50%, Long Beach decreased by 12%,  Lakewood by 37%, and Cerritos decreased by 52%.  Also, houses sold much faster compared to one year ago, the days on market decreased 27%-66% across the four cities.

And, contrary to some buyers' expectations, April selling prices also stayed within 3% of the original list price. 

Not just in April, but actually since 2012, available inventory has been one of the biggest issues for buyers, because a limited supply tends to drive prices upwards.  There are numerous reasons for the limited supply, beyond the purpose of this particular post, which have been discussed elsewhere. 

But it can only be said again, that if you are an interested seller, maybe not even sure at this point because you need to make further decisions, it's still to your advantage to get information now about preparation--it will only help you in the future and perhaps make your path easier.

Please contact me for more assistance.  I have 25 years experience working with both buyers and sellers.

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

Pandemic: Local Housing Market Trends for March 2020

The single family home market in Long Beach, Lakewood, Huntington Beach and Cerritos, for March 2020 show average home price increases in all cities except Cerritos, which is down 6%. See the panel at the right of this blog for those graphs.

There is no question that the virus pandemic is currently influencing the markets.  Before mid-March, the average daily closed sales in 6 Southern California counties were  higher than at the end of March which shows a downward curve. Los Angeles County, for example, averaged 82 closings a day dropped to 67 average daily closings by the end of March.  The average daily new listings in Los Angeles County dropped from 135 to 98. Similar drops in new listings are in Orange, Riverside, San Bernardino, San Diego and Ventura.  It so far doesn't mean that sales have stopped, or completely will, but the trend is obvious at this point. On average, counties are down about 25% overall in listings.
So what is the hope here? Mortgage interest rates are low, and are set to stay that way for indefinite time this year.  Prior to the mid-March slowdown, California February sales volume was the highest in two years. Small business and unemployment assistance, and direct payments, were a start to fiscal stimulus.  In spite the media attention to what the pandemic will do to our world in the future, look at past events with SARS, MERS and Fukushima, and how the market recovered:

If current measures of social distancing are adhered to, and if the needed medical resources are obtained, the current projection is a decline by June 1.  But will we meet that?  Everything depends on how people follow the rules!!

If you have questions about how to sell your home in the current market, just contact me.  Necessary contract requirements such as physical inspections, appraisals, buyer inspection, etc., can be carried out within guidelines unless there is some stricter local level operating.  Virtual open houses minimize contact to keep to the absolute essential visit to a property.  For more on this, please contact me.  Email, phone, or text.

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

Market Prices for November in Long Beach, Huntington Beach, Lakewood, Cerritos, plus Three Counties

Looking for Remodel ideas?

All these prices are for the month of November, 2019, based on data from CRMLS Infosparks:

Average prices for single family homes in Orange County are still showing a slow downward trend since May, 2019, while Los Angeles County is still up from earlier in 2019, and San Bernardino County's average is continuing to the highest average in the last 5 years! This is a buying opportunity for many right now.

The average days on market for the four cities is between about 20 and 50 days.  However, in the very high end markets in Long Beach, properties over $1 million are now generally on the market longer than those under $1 million.  In comparison, prices for the 236 actively listed Long Beach houses under $1 million are currently at 49 average days on market at an average list price of $657,000.  More buyer opportunity in this range!

Luxury Market:

There are currently 68 active single family homes (as of 12/3) listed over $1,000,000 in Long Beach, the average days on market is currently 91.  There are currently 36 properties in escrow, average of 104 days on market.  If you have a listing over $1,000,000, it might be taking a little longer to sell than earlier in the year, but also not unusual for this time of year.

Average single family home prices vary according to area, and here's what they look like locally:

November, 2019

Long Beach
$734,340 (down from October)       Avg Days on Market :18 (down from Oct.)

Lakewood
$606,335 (down from October)       Avg Days on Market : 22 (down from Oct.)

Cerritos
$811,173 (up from October)            Avg Days on Market :39 (up from Oct, down from July)

Huntington Beach
$1,143,086 (down from 18 month high)   Avg Days on Market : 50 (highest since Feb. 2019)

Los Angeles County
$955,098 (down from July and October)  Avg Days on Market : 37

San Bernardino County
$383, 071 (September was highest avg of last 5 years at $392,195)  Avg DOM : 27 (down from Feb.)

Orange County
$1,040,012 (down from May)                  Avg Days on Market : 29 (up from May)

The above prices are for single family homes, please contact me for condo market prices!

The graphic above may give ideas on remodel projects if you're thinking of selling.

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

Average Selling Prices for August, 2019 in Long Beach,Lakewood, Cerritos, Huntington Beach and Three Counties

Alamitos Bay, Long Beach

All these prices are for the month of August, 2019, based on data from CRMLS Infosparks:

Average prices for single family homes in Orange County were showing a slow downward trend since early 2018 but shot upward in May of this year, while Los Angeles County is still trending up from $919,000 in December 2018, and San Bernardino County's average remains solid.
The average days on market for the four cities is about the same as in June.  However, in the very high end markets in Long Beach, properties over $1 million are now generally on the market longer than those under $1 million.  In comparison, prices for the 236 actively listed Long Beach houses under $1 million are currently at 49 average days on market at an average list price of $657,000.  More buyer opportunity in this range!

Luxury Market:

There are currently 87 active single family homes (as of 9/24) listed over $1,000,000 in Long Beach, the average days on market is currently 87; the average days on market for all single family sales over $1,000,000 in the last 6 months was 60 days for 149 properties. There are currently 34 properties in escrow, average of 99 days on market.  If you have a listing over $1,000,000, it might be taking a little longer to sell.
In comparison, in 2018, 241 single family homes sold over $1,000,000 in an average of 63 days.

Average single family home prices vary according to area, and here's what they look like locally:

August, 2019

Long Beach
$743,017 (down 1.2% from July)  Avg Days on Market : 36

Lakewood
$628,684 (up 3.1% from July)       Avg Days on Market : 22

Cerritos
$728,655                                        Avg Days on Market : 42

Huntington Beach
$1,014,446 (18 month high)          Avg Days on Market : 40

Los Angeles County
$966,765 (still down from a high in May, 2018)

San Bernardino County
$377,714

Orange County
$1,087,04

The above prices are for single family homes, please contact me for condo market prices!

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

Average Selling Prices for June, 2019 in Long Beach,Lakewood, Cerritos, Huntington Beach and Three Counties

View of downtown Long Beach

All these prices are for the month of June, 2019, based on data from CRMLS Infosparks:

Average prices for single family homes in Orange County were showing a slow downward trend since early 2018 but shot upward in May of this year, while Los Angeles County is trending up from $919,000 in December 2018, and San Bernardino County's average is now up the highest in the last 18 months as homeowners and investors find buying opportunity there.
The average days on market for the four cities is about the same as before.  However, in the very high end markets in Long Beach, properties over $1 million are generally on the market longer than those under $1 million.

Average single family home prices vary according to area, and here's what they look like locally:

June, 2019

Long Beach
$749,502                 Avg Days on Market : 33

Lakewood
$612,286                 Avg Days on Market : 28

Cerritos
$784,959                 Avg Days on Market : 43

Huntington Beach
$1,239,491 (18 month high)   Avg Days on Market : 40

Los Angeles County
$968,802 (still down from a high in May, 2018)

San Bernardino County
$377,243 (highest average price in last 18 months)

Orange County
$1,085,899 (down slightly from May 2019 18-month high)

 

For condo prices, please contact me!

For an online and automated home valuation, try my site at http://www.juliahuntsman.com/home-evaluation.  It probably works more accurately for single family homes than condos in some areas, depending on what properties lie within about a one-mile radius.  Try it!  And I am always happy to do a more customized report to send out via e-mail.  If you're thinking about making a move, do it! It pays to keep an eye on things.

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996 Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

Average Selling Prices for June, 2019 in Long Beach,Lakewood, Cerritos, Huntington Beach and Three Counties

View of downtown Long Beach

All these prices are for the month of June, 2019, based on data from CRMLS Infosparks:

Average prices for single family homes in Orange County were showing a slow downward trend since early 2018 but shot upward in May of this year, while Los Angeles County is trending up from $919,000 in December 2018, and San Bernardino County's average is now up the highest in the last 18 months as homeowners and investors find buying opportunity there.
The average days on market for the four cities is about the same as before.  However, in the very high end markets in Long Beach, properties over $1 million are generally on the market longer than those under $1 million.

Average single family home prices vary according to area, and here's what they look like locally:

June, 2019

Long Beach
 $661,746                 Avg Days on Market :34

Lakewood
$603,745                  Avg Days on Market : 28

Cerritos
$728,655                  Avg Days on Market :42

Huntington Beach
$1,014,446 (18 month high)   Avg Days on Market :40

Los Angeles County
$966,765 (still down from a high in May, 2018)

San Bernardino County
$377,714(highest average price in last 18 months)

Orange County
$1,087,04 (down slightly from May 2019 18-month high)

 

For condo prices, please contact me!

For an online and automated home valuation, try my site at http://www.juliahuntsman.com/home-evaluation.  It probably works more accurately for single family homes than condos in some areas, depending on what properties lie within about a one-mile radius.  Try it!  And I am always happy to do a more customized report to send out via e-mail.  If you're thinking about making a move, do it! It pays to keep an eye on things.

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

Average Selling Prices in Long Beach, Cerritos, Lakewood, and Local Counties, August 2018

Currently on Long Beach market for $474,999

All these prices are for the month of August, 2018, based on data from CRMLS Infosparks:

Average prices for single family homes in Orange County are $1,098,542, while Los Angeles County as a whole is now at $997,845, and San Bernardino County's average is at $371,677.

Average single family home prices vary according to area, and here's what they look like locally:

August, 2018

Long Beach
$759,955 | +10.7%

Lakewood
$609,570 | +5.2%

Cerritos
$825,082 | +6.6%

Los Angeles County
$977,845 | +7.7%

San Bernardino County
$381,677 | +6.7%

Orange County
$1,098,542 | +7.6%

These statistics show a mix of pricing, with Long Beach at an average days on market at 18 days, Lakewood at 18 days on market, and Cerritos at 22 days on the market on average.  Inventory time on market has increased in the three cities compared to April, up to 3 months (standard is 6 months), and closing prices still continue within 1.5% over or under the original price.  In other words, since the last analysis in April 2018, houses are still selling within 2% of original list price, with a lower time on the market, and a slightly higher  housing inventory from which to choose.   

Condos

Briefly, Long Beach condo average price is $437,911, about the same as in March, 2018. The condo average for Los Angeles County is $602,193, a slight decrease from last month. Other local city condo prices: Cerritos: $414,000 (increase from April);  Monterey Park, $559,875; Pasadena, $632,182 (decrease from April); Whittier, $352,089 (small decrease from April).

 It’s a somewhat looser market right now!

For an online and automated home valuation, try my site at http://www.juliahuntsman.com/home-evaluation.  It probably works more accurately for single family homes than condos in some areas, depending on what properties lie within about a one-mile radius.  Try it!  And I am always happy to do a more customized report to send out via e-mail.  If you're thinking about making a move, do it! It pays to keep an eye on things.

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

Average Selling Prices in Long Beach, Cerritos, Lakewood, and Local Counties, April 2018

For a single family detached home, the average prices for the cities and counties below range from $381,718  to $1,141,966, the low price being in San Bernardino County.


Overall the Los Angeles County average price for single family home is $992,808, a small increase from the previous month of $969,831, and now exceeding the high of July 2017.

All these prices are for the month of April, 2018, based on data from CRMLS Infosparks.

Long Beach average price is slightly decreased from the prior month, but Orange County has surpassed the high of May, 2017, while Los Angeles County as a whole is now above the high of $955,973 in July 2017.  San Bernardino County's averages also exceed the earlier highs of $360,000, and is now at the the highest point in the last 5 years. Average single family home Pprices are varying according to area, and here's what they look like locally.

April 2018

Long Beach
$685,445 | -4.1%

Lakewood
$600,580 | +8.2%

Cerritos
859,816 | +5.2%

Los Angeles County
$992,808 | +9.0%

San Bernardino County
$381,718 | +11.2%

Orange County
$1,141,966 | +14.2%

These statistics show a mix of pricing, with Long Beach at an average days on market at 28 days, Lakewood at 24 days on market, and Cerritos at 34 days on the market on average.  Inventory is still at 2 months or less in all 3 cities, and closing prices continue within 1.5% over or under the original price.  In other words, since the last analysis in November 2017, houses are still selling within 2% of original list price, with less time on the market, and a low housing inventory from which to choose.   

Condos

Briefly, Long Beach condo average price is $395,639, a decrease from $437,000 last month. The condo average for Los Angeles County is $602,193, a slight decrease from last month. Other local city condo prices: Cerritos: $370,000;  Monterey Park, $439,500; Pasadena, $715,634; Whittier, $353,692.

 It’s a tight market right now!

For an online and automated home valuation, try my site at http://www.juliahuntsman.com/home-evaluation.  It probably works more accurately for single family homes than condos in some areas, depending on what properties lie within about a one-mile radius.  Try it!  And I am always happy to do a more customized report to send out via e-mail.  If you're thinking about making a move, do it! It pays to keep an eye on things.

P.S. The photo is a door in Dublin, Ireland, where the housing market is pretty similar to our West Coast!

Julia Huntsman, Broker Realtor

Lic 01188996
www.juliahuntsman.com

Average Selling Prices in Long Beach, Cerritos, Lakewood, and Local Counties, October 2017

Prices are varying according to area, and here's what they look like locally.
For a single family detached home, the average prices for the cities and counties below range from $364,271 to $1,052,322.

Overall the Los Angeles County average price for single family home is $903,618, a decrease from the previous month of $925,566, and even lower from July 2017.

All these prices are for the month of October, 2017, based on data from CRMLS.

Long Beach saw an average price decrease, and Orange County is still up slightly from July 2017, while Los Angeles County as a whole is still decreased from the high of $955,973 in July.  San Bernardino County's averages in September and October are now over $360,000, the highest point in the last 5 years.

October 2017

Long Beach
$646,002 | +5.3%

Lakewood
$558,111 | +1.8%

Cerritos
$795,732 | +17.9%

Los Angeles County
$903,618 | +3.9%

San Bernardino County
$364,271 | +6.9%

Orange County
$1,052,322 | +9.6%

These statistics show a mix of pricing, with Long Beach/Lakewood and Cerritos having less than 43 days on the market on average, approximately 2 months inventory, and closing prices continuing within 1%-2% of original price.

Keeping an eye on things

For an online and automated home valuation, try my site at http://www.juliahuntsman.com/home-evaluation.  It probably works more accurately for single family homes than condos in some areas, depending on what properties lie within about a one-mile radius.  Try it!  And I am always happy to do a more customized report to send out via e-mail.  If you're thinking about making a move, do it! It pays to keep an eye on things.

Average Selling Prices in Long Beach, Cerritos, Lakewood, and Orange County, August 2017

Prices are still going up, and here's what they look like locally.
For a single family detached home, the average prices in this group range from $579,687 to $1,019,768.

Overall the Los Angeles County average price for single family home is $905,787, a decrease from the previous month of $955,973.

All these prices are for the month of August, 2017, based on data from CRMLS.

Both Long Beach and Lakewood saw average price decreases from July, and Orange County is up slightly from July 2017, while Los Angeles County as a whole decreased from August's $955,973 in July.  San Bernardino County average has increased slightly since July, still under $360,000.

August 2017

Long Beach
$686,728 | +8.4%

Lakewood
$579,687 | +9.1%

Cerritos
$773,835 | +9.1%

Los Angeles County
$905,787 | +5.4%

San Bernardino County
$357,482 | +7.0%

Orange County
$1,019,768 | +4.9%

This statistic show a mix of pricing, with Long Beach/Lakewood and Cerritos having less than 30 days on the market on average, approximately 2 months inventory, and closing within 1-2% of original price.

Keeping an eye on things

For an online and automated home valuation, try my site at http://www.juliahuntsman.com/home-evaluation.  It probably works more accurately for single family homes than condos in some areas, depending on what properties lie within about a one-mile radius.  Try it!  And I am always happy to do a more customized report to send out via e-mail.  If you're thinking about making a move, do it! It pays to keep an eye on things.

Average Selling Prices in Long Beach, Cerritos, Lakewood, and Orange County, July 2017

 

Prices are still going up, and here's what they look like locally.

For a single family detached home, the average prices in this group range from $586,928 to $1,003,739, which represent increases between 1.3%-13.2% over June prices.

Overall the Los Angeles County average price for single family home is $956,939, an increase from the previous month (the median price is $610,000 for July).

All these prices are for the month of July, 2017, based on data from CRMLS.

Orange County as a whole has slowed to just over 1.3% from last month while Los Angeles County as a whole increased over 11% in July.  The areas with more lower priced homes (relatively speaking) are seeing bigger increases than Orange County, with overall higher priced homes, with a smaller percentage increase.

July 2017

Long Beach
$705,682 | +13.2%

Lakewood
$586,928 | +12.1%

Cerritos
$757,438 | +4.5%

Los Angeles County
$956,939 | +11.0%

San Bernardino County
$355,603 | +3.1%

Orange County
$1,003,739 | +1.3%

How much higher will things go?  Unknown, but as long as the interest rates are lower, and buyers are able to find sources for down payment funds, the end is not in sight according to many market experts.

If a buyer were interested in the average selling price of $350,000 for a house, then San Bernardino County (average at $355,000 in July) and the Inland Empire would be the place to search in Southern California, and Northern California in many counties, excluding the Bay Area, would hold some similar opportunities.

For an online and automated home valuation, try my site at http://www.juliahuntsman.com/home-evaluation.  It probably works more accurately for single family homes than condos in some areas, depending on what properties lie within about a one-mile radius.  Try it!  And I am always happy to do a more customized report to send out via e-mail.  If you're thinking about making a move, do it! The future is yours.

Average Selling Prices in Long Beach, Cerritos, Lakewood, and Orange County, June 2017

Prices are going up, and here's what they look like locally.  For a single family detached home, the average prices in this group range from $575,786 to $770,826, and for overall comparison to Orange County at over $1 million, they're obviously somewhat lower.  Overall Los Angeles County average price is $918,450 (the median price is $632,000 for June).  All these prices are for the month of June, 2017, based on data from CRMLS

One characteristic to note is that Orange County as a whole has increased just over 4%, Los Angeles County has a whole has increased over 9% in June.  The areas with more lower priced homes (relatively speaking) are seeing bigger increases than Orange County, with overall higher priced homes, with a smaller percentage increase.
How much higher will things go?  Unknown, but as long as the interest rates are lower, and buyers are able to find sources for down payment funds, the end is not in sight according to many market experts. The Federal Reserve, however, is expected to raise rates one more time this year.

"But while interest rates will increase to an estimated 5% by the end of 2018 and 6% by the end of 2019, most economists expect home price growth will also slow to between 2% and 4% once rates begin to rise."

If a buyer were interested in the average selling price of $350,000 for a house, then San Bernardino County and the Inland Empire would be the place to search in Southern California, and Northern California in many counties, excluding the Bay Area, would hold some similar opportunities.

For an online and automated home valuation, try my site at http://www.juliahuntsman.com/home-evaluation.  It probably works more accurately for single family homes than condos in some areas, depending on what properties lie within about a one-mile radius.  Try it!  And I am always happy to do a more customized report to send out via e-mail.  If you're thinking about making a move, do something besides stare.

Long Beach Market Prices for Houses and Condos Feb. 2017

Long Beach prices Feb. 2017

The average sales price for a house in Long Beach in February was $672,000 (an increase of 7% over same time last year); the average price for a condo was $413,000 (an increase of 8% over same time last year.)

What is going to happen to interest rates?  For a while they were predicted to go up to 5% this year, but today (Friday), they are 4% or 4.125% depending on the loan level for conventional loans, and 3.75% or less depending on loan level for FHA/VA loans.  What will happen in the future depends on a lot things that are currently going on in Washington DC, and predicting the future is not a sure thing.

One of the biggest problems is still lack of inventory, as one can see on this report, it's gone down from last year (it can't get much lower, by the way), and it's not just the case in this city, this is across the board.  This has made the market get much more competitive (who thought it could get worse?), and the days on market figures are showing that, less time on market means the properties are getting snapped up faster and there are multiple offers.  The chart shows average figures, they vary greatly according to price range and location.  A $450,000 house in excellent showing condition will not last, but the $1,000,000+ range offers more selection and more time: there are 75 active listings in CRMLS in Long Beach over one million, and days on market is also 75.  Apparently, in Arcadia, per a conversation with a fellow Realtor this morning from that area, it's the $5,000,000 properties that are hot and moving fast.  Every market is different.

Lakewood: Average SFR selling price - $546,000; Condo $401,000.
Cerritos:  Average SFR selling price -  $743,000; Condo $335,000.
Huntington Beach: Average SFR price - $906,000; condo $510,000.

If you're thinking of making a change, please contact me

July 2016 Average Sold Prices in Cerritos, Long Beach, Lakewood and Seal Beach

In Los Angeles County, the median priced home in July, 2016 was $580,000, up from $529,000 in June, 2015, and current single family home price is $509,830 for all of California.

In the first chart are median prices for Cerritos, Long Beach, Lakewood , and Seal Beach single family homes for the past 3 years through September 7, 2016.  Seal Beach has increased 7.9% in that time; Cerritos has decreased 1.8%;  Lakewood has increased 5% overall; Long Beach has increased .3%.
Current median price - Long Beach $548,500; Cerritos - $690,000; Lakewood $525,000; Seal Beach $1,132,500.
Average median condominium prices for all four cities range from $553,500 (Cerritos) to $245,000 (Lakewood).  The average condo price range is virtually the same across the four cities.


For a chart of the average single family home in all four cities, please note the difference in the second chart, where overall prices change upward: