Increase in April Home Sales Prices for Long Beach, and Nearby Cities

Based on MLS data, 10K Research&Marketing

Long Beach home sellers may finally take heart at some continuing good news. While the citywide accumulated median and average price for single family home sales continues to decline from last year, the April 2012 comparison to the same time last year actually shows an increase in median and average sales price:  Median - from $374,500 to $381,000;  Average - from $421,796 to $424,441.

The average price from April 2011-April 2012 for condos and townhomes also shows a 10% increase, from $211,280 to $232,676. 

As above, the "rolling" 12-month calculation for both categories still shows a decrease in prices, however.  With the increase shown in pending sales compared to last year, more buyers are buying. But the 50% cut in inventory levels say that many possible sellers have yet to decide to put their properties on the market.  In fact, Long Beach had the highest number of closed sales (226) in April over all the other 60+ cities in this report area.