The Long Beach real estate market is off to a brisk start this year with many potential buyers scrambling to get into escrow before the home buyers tax credit expires.
Qualifying first-time buyers who have a contract in place before April 30th and close escrow before June 30th may take advantage of the $8,000 federal tax credit. Additionally, the Worker, Homeownership, and Business Assistance Act of 2009 authorized a tax credit of up to $6,500 for qualified repeat home buyers. For more information on the program, give our office a call at 562-961-1415 or email Info@ShowMeHome.com.
Interest rates and prices remain low, making this an attractive market for buyers. However, high buyer demand and low inventory also puts sellers in a strong position. In many areas, homes that are attractive and well priced have been generating multiple offers and prices have showed some signs of a possible recovery.
In January, 116 single family homes sold in Long Beach, with an average sales price of $403,768. In comparison, the average sales price in January 2009 was $343,171. Currently, there are 570 homes on the market citywide. Some areas have more to choose from than others. For example, there are just 27 houses on the market in 90814, which includes parts of Belmont Heights, Bluff Heights and Rose Park South. In comparison, there are 130 available homes in 90805, North Long Beach.
If you're interested in finding out what your home is worth in today's market, we can send you a free, individualized report via email, complete with charts, graphs and statistics that will help you monitor price trends. Simply call 562-961-1415 or email Info@ShowMeHome.com and we'd be happy to get you the report.
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