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

Just Listed, Single Family in Long Beach for $474,999

 This house has room to grow, nice size rear yard.  It may look modest on the outside, but it has just recently been upgraded with a new kitchen and bath remodel, plus new dual paned windows, new vinyl flooring, and new paint inside and out. Dishwasher and gas stove are included.  Half block to Dooley School and walking distance to middle school.  Also close to public transportation.  List price $474,999, MLS PW 18214312.  Really nice opportunity to just move right in. There's plenty of driveway parking, and a brick patio area in the rear yard for entertaining. Garage has been converted to workshop area (buyer to investigate permits), with a 2nd bathroom (also permits unknown) with a large shower, electricity in garage and finished walls with tiled floor (try investigating if it will work for a conversion to a legal Accessory Dwelling Unit).  Three bedrooms and dining area with a lovely chandelier separate from the kitchen make this a really nice cozy opportunity.
Call me for more information! or go to this link on MLSTouch for more information:
https://bit.ly/2MI5JLX

Update:  Sold, for $470,000, November 21, 2018.

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

Long Beach Housing Inventory

 We're hearing more talk about market slowing, a little early for this time of year.

There's still far less than the traditional months of inventory on the market, i.e., 6 months meaning how long it would take to sell what's currently for sale.  In Long Beach, it's almost the same for both single family homes and for condos:  2.4-2.7 months of inventory. 

And yet, the number of sales compared to June of last year is down about 28%, while the average sales price for houses and condos are UP!  This is also true on the state level, according to California Association of Realtors: "June marked the fifth consecutive month that prices increased by more than 8 percent annually, indicating that price appreciation remains robust and is not showing any signs of leveling off."  But Orange County experienced one of the biggest declines in number of sales, all counties experienced a decline however, possibly due to buyer fatigue at rising prices.

Many younger buyers are able to get some financial help from families who may aid with down payments, which is a great help for them. One surprising fact is that single women over 55 are a growing segment of buyers, citing rising rent costs as a reason, not for the purpose of purchasing multigenerational housing.

Interest rates are remaining the same for right now, but a possible increase is hinted at in September. The mortgage lenders and banks, however, usually anticipate an increase in advance and build it into their scenarios in advance, but other global market effects come into play also, and there can even be a decrease in rates!

Currently, the average days on market for all 228 Long Beach single family homes currently in escrow is 45 days. It's a very good time to sell and find a new home.

For more information about selling, please contact me!


Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996, representing buyers and sellers since 1994.

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