Residential Market Prices in Long Beach, August 2024 - Plus Purchasing Power Calculator

 

Residential Market Prices for City of Long Beach

Condo Median:  $526,000 |  Condo Average: $566,963

Single Family House Median: $1,072,500 | SFR Average:  $1,160,406

Downtown Long Beach - 90802

Single Family Median:  $830,000 |  SFR Average: $830,000

Condo Median:  $514,500 |  Condo Average: $575,804

North Long Beach - 90805 

Single Family Median:  $705,000 | SFR Average: $673,875

Condo Median:  $547,400 | Condo Average: $547,400

East Long Beach - 90808

Single Family Median:  $1,116,000 | SFR Average: $1,111,824

Condo Sales:  None

East Long Beach - 90815

Single Family Median:  $1,178,000 | SFR Average: $1,267,962

Condo Median: $547,500   | Condo Average:  $591,000

City of Lakewood

Single Family House Median: $871,000 | SFR Average:  $934,629

Condo Median:  $770,000 |  Condo Average: $770,000

City of Signal Hill

Single Family House Median: $1,050,000 | SFR Average:  $1,050,000

Condo Median:  $625,500 |  Condo Average: $650,833

 

Long Beach Months of Inventory is 2.8 months, an increase from 2.3 months this time last year.

The industry standard for months of inventory is as follows, which shows we are in a seller's market in Long Beach and most other surrounding areas, even though we've seen an increase in listings recently:

Seller’s Market: <= 5.5 months
Balanced Market: >=5.6 and <=6.5 months
Buyer’s Market: >=6.6 months

If I can give you more specific information about your local neighborhood, please contact me.  The above figures are by no means all local information.  

To see how interest rates are impacting purchasing power, both buyers and sellers should find this public interactive tool very helpful:  https://www.car.org/marketdata/interactive/interestrateaffordability

 

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

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

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

Average Sales Prices Mostly UP in Selected Long Beach Areas, Signal Hill and Lakewood for 2018

Lately, the internet is full of stories about softening prices, but it turns out to not be all true.  It depends on the city and overall region.  But take a look at these stats, taken directly from the CRMLS, which happens to be the largest MLS in the country with 96,000 subscribers and another 143,000 agents in participating MLS's.

Below are the average sales prices for single family homes, with the sales count for that period in parentheses (  ).  It was a little different than I expected--I chose these areas in Long Beach as representative of single family homes for different points in the city, and then chose Lakewood and Signal Hill as entire cities.

As you will see below, in most cases, for 2018, both average sales price and sales volume increased in the second 5 months of the year, compared to the first 6 months--not what I expected to see, especially in the highest price area of the city where properties are spending more time on the market.

Long Beach

Area 1 - Naples, Belmont Shore/Park, Marina Pacifica, Bay Harbor - UP
1/1 - 6/1 --   $1,220,951    (71)
6/2 - 12/1 -- $1,588,024    (90)

Area 2 - Belmont Heights, Alamitos Heights, Bluff Park - UP
1/1 - 6/1 --   $996,377       (44)
6/2 - 12/1 -- $1,106,803    (63)

Area 5 - Wrigley Area - UP
1/1/ - 6/1 --   $538,908      (50)
6/2 - 12/1 --  $574,446      (63)

Area 6 - Bixby, Bixby Knolls, Los Cerritos, California Hts - MIXED
1/1 - 6/2 --   $760,435        (101)
6/2 - 12/1 -- $749,131        (107)

Area 7 - North Long Beach - UP
1/1/ - 6/1 --  $447,282         (100)
6/2 - 12/1 -- $464,851         (165)

Areas 31,32,33,34 - Los Altos, Conant, Ranchos, Plaza, Stratford Square - UP
1/1/ - 6/1 --  $696,026         (187)
6/2 - 12/1 -- $716,253         (252)

City of Signal Hill - UP
1/1/ - 6/1 --  $747,303         (27)
6/2 - 12/1 -- $872,874         (23)

City of Lakewood - UP
1/1/ - 6/1 --  $589,653         (314)
6/2 - 12/1 -- $612,165         (401)

If you are interested in selling for 2019, or would just like some idea at this point of your market value, please contact me directly via text, phone or email.


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

Luxury Homes in Signal Hill

Crescent Square Homes have room for everyone, 4 bedroom homes--3.5 baths--designed for multigenerational living.They are three stories, with an option for an elevator.  There's room for 3 cars. Fully equipped kitchens include a kitchen island, but there's a formal dining room too! The upper level even has a kitchenette in Model 2.

In keeping with the City of Signal Hill's past, the exteriors blend with Spanish, Craftsman, Colonial or Monterey styles of architecture.

Currently, there are still several homes available ranging from approximately $941,000 to $1,028,647 (the average price of a single family home in last 90 days is $911,718). More features include large walk-in closet, outdoor covered balconies, tankless water heater, private master suites. Located adjacent to Long Beach, a new homeowner can take advantage of local Signal Hill shopping and restaurants (including Costco and Mother's Kitchen), but also a quick drive to the beach, classes at Cal State Long Beach, or dining in Belmont Shore.

To take advantage of this new home opportunity please contact me right away!

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

Signal Hill View Home, Promontory Crest

 Beautiful luxury home in Signal Hill offers panoramic views in Promontory Crest, offered at $1,148,000.
This exceptional two-story home offers three bedrooms PLUS a large office, beautiful kitchen, dining area.  Maple hardwood floors, granite in the kitchen, plantation shutters, and wired sound are just some of the extras in this home.
The views are extraordinary and the location is ideal in one of Signal Hill's nicest developments.
Promontory Crest offers its members a pool, spa, barbecue, outdoor cooking area, playground, and hiking trails.

Open house this weekend on Sunday April 29th, please contact me for more information, easy access through HOA's gated entry.
Lic #01188996

 See more at http://www.juliahuntsman.com/open-houses.html






Listing Broker:  Time Realty

Beautiful Sea Ridge Home in Signal Hill - Fantastic Views!

This desirable highly sought-after home is still on the market at $1,248,000.

It is located in the beautiful Signal Hill development of Skyline Estates. Situated on a unique promontory in the highly coveted “Sea Ridge” with sweeping and explosive views from Palos Verdes to the Pacific Ocean to Newport Beach. The views from this home are unparalleled. The three-level floor plan features a formal dining room, formal living room, spectacular ‘Chef’s’ kitchen with GE Monogram appliances, double ovens, center island and breakfast bar that opens up into the family room with expansive windows offering impressive views of downtown Long Beach. 

View towards San Pedro

Three bedrooms are located on the first floor with one being a second master en-suite. The spacious master retreat features lounge, massive walk-in closet. master bath with dual vanities and spectacular tub featuring city views. Wonderful backyard with fireplace and BBQ is perfect for entertaining year round.

Excellent location close to the community walking trails, and pool. Just minutes to Belmont Shore, Downtown Long Beach and freeway access.
Association dues include community pool and paved road.
Information per MLS#PW16136930 on 8/29/2016.
Lic# 01188996
NOTE:  OFF MARKET

View of downtown Long Beach

See the video and/or find out more about this home, please contact me at 562-896-2609.






Listing posted by permission of listing agent Boardwalk Properties.

Beautiful Signal Hill Home in Skyline Estates Waiting for a Buyer!

Home on Sea Ridge

This desirable highly sought after home is still on the market.

It is located in the beautiful Signal Hill development of Skyline Estates. Situated on a unique promontory in the highly coveted “Sea Ridge” with sweeping and explosive views from Palos Verdes to the Pacific Ocean to Newport Beach. The views from this home are unparalleled. The three-level floor plan features a formal dining room, formal living room, spectacular ‘Chef’s’ kitchen with GE Monogram appliances, double ovens, center island and breakfast bar that opens up into the family room with expansive windows offering impressive views of downtown Long Beach. 

View towards San Pedro

Three bedrooms are located on the first floor with one being a second master en-suite. The spacious master retreat features lounge, massive walk-in closet. master bath with dual vanities and spectacular tub featuring city views. Wonderful backyard with fireplace and BBQ is perfect for entertaining year round. 

Excellent location close to the community walking trails, and pool. Just minutes to Belmont Shore, Downtown Long Beach and freeway access.
Association dues include community pool and paved road.
Information per MLS#  PW16034526.

View of downtown Long Beach

See the video and/or find out more about this home, please contact me at 562-896-2609.

Signal Hill's Skyline Estates Dream Home with World-Class Views!

Home on Sea Ridge

This desirable highly sought after home is located in the Signal Hill development of Skyline Estates. Situated on a unique promontory in the highly coveted “Sea Ridge” with sweeping and explosive views from Palos Verdes to the Pacific Ocean to Newport Beach. The views from this home are unparalleled. The three-level floor plan features a formal dining room, formal living room, spectacular ‘Chef’s’ kitchen with GE Monogram appliances, double ovens, center island and breakfast bar that opens up into the family room with expansive windows offering impressive views of downtown Long Beach. 

View towards San Pedro

Three bedrooms are located on the first floor with one being a second master en-suite. The spacious master retreat features lounge, massive walk-in closet. master bath with dual vanities and spectacular tub featuring city views. Wonderful backyard with fireplace and BBQ is perfect for entertaining year round. 

Excellent location close to the community walking trails, and pool. Just minutes to Belmont Shore, Downtown Long Beach and freeway access.
Association dues include community pool and paved road.
Information per MLS# PW15230654

View of downtown Long Beach

See the video and/or find out more about this home, please contact me at 562-896-2609. CA Lic. 01188996

Listing Broker:  Boardwalk Properties

Prices in Long Beach, Lakewood, Cerritos, Signal Hill

Home prices continue to rise in Los Angeles and Orange Counties, 6% to June of this year from June of last year according to the Los Angeles Times.  In the four cities below, the average days on market for a single family home in August ranges from 41 days (Lakewood) to 67 days (Signal Hill). Long Beach had total closings of 193 (not surprising since it's the largest city of the four), Signal Hill had 6 closed sales, Cerritos had 26 sales, and Lakewood had 72 sales.

Even though the National Association of Realtors® reported that sales in July were the highest since 2007, Long Beach and Cerritos sales volume decreased somewhat in August.

Housing inventory is still low, although a recent daily trend for the local market shows a higher number of new listings in the MLS than closed sales. For August, however, each of the four cities below shows a decrease in inventory supply from the prior month: 1.6 months (Lakewood) being the lowest, and 3.7 months (Signal Hill) being the highest. Long Beach had 2.2 months supply in August. The traditional norm for a normal market supply has been 6 months.  This is a long term trend: Prices go up while inventory remains low.

Condo prices, which are typically lower than single family home prices, also increased from the prior month: average prices in Lakewood -- $485,000; Signal Hill -- $379,000; Long Beach -- $362,000; Cerritos -- $392,000; all prices represent increases from prior month range from 2% (Signal Hill) to 60% (Lakewood).

Prices Continue Up for June in Many Cities, But Sales Volume Way Down

Average single family home prices in June, 2014, and the increase or decrease compared directly to June of one year ago (prices may differ from overall annualized price), plus stats on closed sales and days on market (DOM).  Actual number and percentage of sales are down (see red column), a lot; properties are usually spending more time on the market before going into escrow (last column); and the average house price, on a citywide basis, is higher than one year ago.  The percentage increase in price, however, is lower compared to May's increases, in many areas. (P.S. See my new Metro Summary page for Long Beach region info for July).
     

Cerritos	$739,333	+10.8%	Closed Sales	-40%	DOM +27.8%
Lakewood	$463,096	+7%	Closed Sales	-32%	DOM +8%
Long Beach	$555,496	+17%	Closed Sales	-28.4%	DOM +58%
Los Alamitos	$726,667	+9%	Closed Sales	-57%	DOM +72%
Seal Beach	$1,021,223	+14%	Closed Sales	-20%	DOM -33.3%
Signal Hill	$655,000	+7%	Closed Sales	-75%	DOM +87%
Huntington Beach	$920,396	+19%	Closed Sales	-21%	DOM +68%
Norwalk	$340,943	+9%	Closed Sales	-8%	DOM +5%
Downey	$444,903	+8%	Closed Sales	-24%	DOM +59%
Garden Grove	$503,922	+15%	Closed Sales	-58%	DOM -9%

So Cal Cities Update - Long Beach Region

Happy 4th of July!

 




Average single family home prices in May, 2014, and increase/decrease from one year ago (prices may differ from overall annualized price):

Cerritos:                 $644,036, +9%
Lakewood:             $479,462, +10%
Long Beach:           $534,617, +4%
Los Alamitos:         $641,000, -16%
Seal Beach:             $989,577, +20%
Signal Hill:              $630,500, -10%
Huntington Beach:  $849,050, +2%
Norwalk:                 $362,598, +12%
Downey:                 $476,152, +19%
Garden Grove:        $495,475, 14%

Los Angeles County (South) and North O.C. Tell Interesting Stories Of Prices, Sales and Inventory

The latest market updates for April, 2013, are out for the south Los Angeles County and North Orange County cities--and here is a breakdown of stats for single family homes in local cities (all comparisons are a one-month comparison of April 2013 to April 2012, not on an annual basis):

• Long Beach  -- New listings are up 4% for April 2013; the median sales price has increased 25% to $440,500 (citywide figures); the average sales price is $495,000, an increase of 27%. Listing inventory has decreased by 62.6%, with 1.4 months of inventory at the end of April.
• Cerritos -- New listings are up 25% for April 2013; the median sales price has increased 8% to $573,000 (citywide figures); the average sales price is $615,758, an increase of 14%. Listing inventory has decreased by 78%, with 1 month of inventory at the end of April.
• Lakewood -- New listings are up 8.2% for April 2013; the median sales price has increased 12% to $405,000 (citywide figures); the average sales price is $413,000, an increase of 14%. Listing inventory has decreased by 76%, with .8 months of inventory at the end of April.
• Signal Hill -- New listings are down 42% for April 2013; the median sales price has increased 18% to $594,750 (citywide figures); the average sales price is $529,875, an increase of 8.8%. Listing inventory has decreased by 77%, with 1.8 months of inventory at the end of April.

The general picture is: prices have gone up, and inventory for all properties (houses and condos) is down compared to last year this time, with the lone exception of Avalon (Catalina Island), where inventory is actually up 17% but the median market price is down 33%.   Areas with the greatest increase in median market price tended to be lower priced areas in the past, and are now attracting buyer attention, Bell Gardens and Stanton being two examples.  Los Alamitos (including Rossmoor area) actually decreased by about 6% in median price.  Long Beach stands out at the top of the list of all area cities for the greatest number of closed sales in April at 324 and the most new listings, followed by Irvine at 264 closed sales, then by Anaheim and Huntington Beach.  Of the 68 cities included in the geographic area, only 4 are showing a decrease in median price!

Do you want to know what's going on in your zip code? It's sometimes a different picture than the surrounding city. Get the picture now by giving me a call or e-mailing me, so that you can stay up with your market.

Market Update, And More Home Price Directions Are Moving UP

California prices by county

The median price paid for a Southern California home rose to $309,000 in August--that's an overall median for Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties--that's an increase of 10% compared to August 2011, and the highest median price since August 2008's median of $330,000.

Short sales and foreclosures (the distressed property market) are trending downward by 1%-2% from  July and previous months.  That does not mean they are going away, because the distressed property market is predicted to be here for a long time into the future.  The good news is that higher prices mean a lift out of the short sale category for some prospective sellers, or a higher net from a sale to put towards a new purchase. Short sales in the 6-county area were about 17% of sales, but locally, there are specific areas where they are still 50% or more of the market.

Drops in foreclosure inventory,  increases in sales of higher priced properties are part of the increase in home price.  The increase in numbers of properties in escrow is impacted by the lowest interest rates since the 1940s, which are likely to stay that way for some time into the future, this August was the highest August sales in the last 6 years.  The volume of sales however, is still 15% below the average calculated since 1988.

Investors, or "absentee buyers" bought 27% of the homes last month, and buyers paying with cash were 31%, paying a median amount of $235,000, an increased amount from last year.

Credit conditions for buyers, and therefore for sellers, are strict.  Buyers who currently occupy their homes and want to purchase a new one not only must meet all those loan requirements, but satisfy the lender's requirement for at least 30% equity or more in their property. If your property is currently a rental, the property's equity may not be an issue assuming you have satisfied other lender conditions.

Find more local trends for houses and townhouse/condos in Los Angeles and Orange Counties including housing affordability, months of inventory, median sales price (now up at 5.9% at $450,000 for the region covered by this report), and local inventory amounts. Just go to my site for this local regional report that covers cities including Lakewood, Long Beach, Cerritos, Seal Beach, Huntington Beach, Newport Beach down to Aliso Viejo and Rancho Margarita, out to Yorba Linda and Placentia, and many more cities in between.  A more specific report is available by zip code (here is 90713 in Lakewood) or by city--this one is for Long Beach.

For a copy of your local report, please contact me and I will be happy to send it to you.

Some selected prices:  the highest median sales price in the local region:  Corona del Mar at $1,700,000; Cerritos, $499,900; Long Beach, $320,000; Signal Hill, $410,000; Cypress, $422,500.

Click on the link to see Dataquick's Southern California report for August. Do you want to find out your home's current value?

Please go to What is My Home Worth for more information.