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.
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