Year to Date Through November 2023: Long Beach Real Estate Market Update

Year to Date Through November 2023: Long Beach Real Estate Market Update

  • Ginette Skelton
  • 01/2/24

Join us as we delve into the December 2023 update, exploring key insights, statistics, and forecasts that offer valuable guidance for those navigating the vibrant real estate scene in Long Beach.


Overview of Market Trends


The Long Beach real estate market remains robust, characterized by a blend of stability and evolution. Throughout 2023, demand for residential properties has remained strong, with a balance between supply and demand in various neighborhoods. The market continues to adapt to changing preferences, evolving lifestyles, and economic influences, shaping the trajectory of buying and selling patterns. Long Beach is still a Sellers Housing Marketing, so prices are averaging higher and homes, in general, are selling quickly.


Numbers at a Glance

Compared to last year, Long Beach homes have sold for 2.2% less.


Median Sold Price:

$772,314; $604/sqft

Difference since November 2022 is -$17,106 (-2.2%)


Housing Supply:

October 2023: 626

November 2023: 603

Change: -3.7%


Homes Sold:

October 2023: 164

November 2023: 147

Change: -10.4%


Asking Price vs. Sold Price:

53 - Sold Under Asking

22 - Sold At Asking

72 - Sold Over Asking


Home Sale Times:

98 - Sold Under 30 Days

42 - Sold In 30 Days

7 - Sold Over 90 Days


City-Wide Stats

By Zip Code

Home Prices and Appreciation


One of the notable trends in 2023 has been the continued appreciation of home prices across different segments of the market. The median home prices have shown steady growth, reflecting the desirability of Long Beach as a place to live, work, and invest. Sellers continue to benefit from a competitive market, while buyers navigate challenges amid rising prices and limited inventory.


Shifts in Inventory and Housing Supply


The availability of housing inventory has been a focal point in the market dynamics. Throughout the year, there has been a trend of limited inventory, creating a competitive landscape for buyers. The supply shortage has influenced multiple-offer situations and, in some cases, prompted quicker decision-making among prospective buyers.


Interest Rates and Mortgage Trends


Interest rates have experienced slight fluctuations throughout the year, impacting buyer affordability. While rates have remained relatively low, the anticipation of potential increases has prompted some buyers to expedite their purchasing decisions, aiming to lock in favorable mortgage terms.


Local Neighborhood Insights


Different neighborhoods within Long Beach have exhibited varying trends and patterns. From the bustling urban centers to the serene waterfront communities, each area showcases unique market dynamics. Neighborhoods like Belmont Shore, Naples Island, and Bixby Knolls continue to attract buyers with their distinct charm and amenities.


Forecast and Predictions


Looking ahead to 2024, experts anticipate a continuation of the current trends, albeit with potential adjustments influenced by economic factors, interest rate changes, and market conditions. The market is expected to maintain its vitality, with continued demand for homes in Long Beach driven by its coastal allure and diverse offerings.


Navigating the Market


For buyers and sellers alike, understanding these market trends is crucial when making informed decisions. Partnering with a knowledgeable and experienced real estate agent who understands the nuances of the Long Beach market can provide invaluable guidance and support throughout the buying or selling process.




The December 2023 update for the Long Beach real estate market underscores its resilience and adaptability. As the year draws to a close, the market continues to offer opportunities and challenges for those looking to buy, sell, or invest in this vibrant coastal city.


Work With Ginette

Whether you are buying or selling, you will benefit from Ginette's expert knowledge of the Long Beach CA Real Estate market, as well as her 20+ years of probate and trust experience. Contact Ginette today!

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