Cienga and Aubrey @ Alamitos Ridge Market Report - Long Beach Gated Communities
What's the Story?
Condo and gated community sales are on the rise! Condo sales are improving, as reported by the California Association of Realtors, after a long drought which is great news for Signal Hil/Long Beach sellers where condos, townhomes and PUD (Planned Unit Developments) dominate the landscape.
The gated communities are a mixture Condos, Townhomes and Single Family Residences built from the year 2000 and forward, 21st Century Homes. Brookfield homes built the Cienga townhome community in 2005 while Lennar completed the new community of PUD's in 2011. Each reflects a different style of living. Cienga is a Mediterranean gated community ranging from 1180 - 1970 square feet. Aubrey @ Alamitos Ridge is a secluded gated community offering a private park and a single family style of living.
Real Estate Activity
Active Listings : 2 (Standard: 2 price range: $415,000 - $699,000)
Pending Listings: 3 (Standard: 1 Short Sale: 2 price range: $385,000- $429,000)
Sold Listings: 2 (Standard: 1 REO: 1 <bank owned property> price range: $416,000- $423,000)
What does this mean for you?
As a seller of a Cienga Townhome or Aubrey @ Alamitos Ridge single family home a price difference is reflected by the type of sale. Short Sales, homes sold for less than the mortgage amount owed, are usually priced 5 - 10% lower than a standard sale. A Standard Sale is one which the homeowner has equity and expects to receive a net. The two recent sales closed on 10/22 and 10/30 both cash purchases with no seller concessions, sellers did not pay buyers closing costs. Both properties were sold quickly - 28 days and 8 days respectively.
As a Cienga or Aubrey home buyer you maybe attracted to the convenience of living in a gated community with resort style amenities or a private park. The interest rates remain attractive. Wells Fargo reported 4.5% for a 30 year fixed rate or 4.25% for a FHA 30 year fixed rate. The frenzy of buying has slowed, but activity remains brisk for well-priced attractive homes.
The Cienga and Aubrey @ Alamitos Ridge Market Report reflects current real estate trends in two newer Long Beach gated communities. As an expert in newer construction homes I can assist both buyers and sellers. Give me a call for a free assessment.