Properties in Long Beach and surrounding areas have experienced fluctuations in supply and demand, influencing the overall housing market dynamics.
Here Are Some Recent Market Trends:
Median Sale Price: As of February, 2024 the median sale price for a home in Long Beach stood at $800,000, marking a significant increase of 10.3% year-over-year.
Price Per Square Foot: The price per square foot is $607, showing a slight uptick of 1.2% from the previous year.
Median Listing Home Price: However, the median listing home price decreased to $750,000 in February 2024, indicating a -4.9% change year-over-year.
Looking Back at Quarter 4, 2023 Analysis:
Median Sale Price: In Quarter 4, 2023, the median sale price was $772,000, reflecting a 12.7% increase year-over-year.
Price Per Square Foot: The median price per square foot was $619, marking a 2.8% rise from the previous year.
Transactions: A total of 536 transactions were recorded, showing a slight -2.2% year-over-year change.
Current Market Overview:
Housing Supply: For February 2024, 586 homes were listed for sale in Long Beach, suggesting a stable housing supply.
Market Fluidity: The number of sales and the pace at which homes are sold provide insights into the market's fluidity.
Why Choose Long Beach to Call Home?
- Diverse Neighborhoods:
From bustling urban areas in Downtown Long Beach to serene waterfront settings in Belmont Shore and Naples Island, Long Beach offers diverse locales to suit various preferences.
- Extensive Property Types:
Long Beach's housing inventory includes single-family homes, modern condos, historic Craftsman bungalows, Spanish-style houses, and new home constructions, catering to different lifestyles and tastes.
- Robust Economic Factors:
Long Beach's real estate market is influenced by economic growth, real estate transactions, and the role of real estate agents in guiding transactions to meet market demand.
- Vibrant Community and Amenities:
Long Beach offers a vibrant community with access to upscale shops, restaurants, parks, waterfront activities, and cultural events, enhancing the overall living experience.
- Strategic Location:
Long Beach's strategic location within the Los Angeles area provides easy access to major highways, airports, and neighboring cities, making it an attractive destination for commuters and businesses alike.
An Opportunity Worth Investing In
With its diverse neighborhoods, extensive property types, robust economic factors, vibrant community, and strategic location, Long Beach presents an enticing opportunity for buyers, sellers, and investors in the real estate market. Whether you're looking for a coastal lifestyle, urban living, or suburban tranquility, Long Beach has something for everyone.
Explore the Long Beach real estate market today and unlock the potential of this dynamic city! Contact me to get started: PHONE: (562) 225-5658; EMAIL [email protected]
