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Long Beach Real Estate Market Update - October 2011

By
Real Estate Agent with The Shannon Jones Team DRE #01247705

Here’s a look at the latest real estate market numbers for Long Beach, California:

Currently, there are 705 single family homes with an average list price of $546,415. In the first three quarters of 2011, 1585 homes sold, compared to 1652 during the first three quarters of 2010. The average price for a single family home during the first nine months of 2011 was $400,480, compared to $416,840 last year.

And while sales and sales prices went down a little, the average market time lengthened slightly, from 72 days on the market last year to 81 this year.

Based on recent sales and listing inventory, there is currently about a four month supply of homes. The relatively low prices and low interest rates give the appearance of this being a buyer’s market; however, a market with less than six month’s supply of homes is actually considered a seller’s market.

Posted by

 Shannon Jones

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Shannon Jones is a Realtor residing in Long Beach, CA. She leads an award-winning real estate team that has been serving home buyers and sellers in Long Beach and surrounding communities since 1998. Shannon and her team provide their clients with high quality marketing and excellent service. You can check their reviews on Yelp or Zillow.  

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CalBRE License #01247705 / 562-896-2456 / Shannon (at) ShowMeHome.com
 

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