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Alamitos Beach Homes - Market Report - 2008

January 1, 2008 - June 20, 2008

Sales are picking up this month.  The real estate market has been flushed with foreclosed homes which has driven prices down and first time buyers onto the Long Beach Real Estate market.  The sharpest decline in prices in 20 years has been reported by Data Quick, prices fell by 30% in May.  While this upturn in the real estate market has not dribbled up to the luxury market, it should follow suit shortly. 

Lenders have tightened up on lending standards, interest rates are lurking around 6.5% and buyers must be pre-qualified.  It's a smart buyer that has a lock in letter and a loan commitment from their lender to protect themselves.  

This puts some strong buyers on the market right now and they are looking to purchase the most their money will buy.  There are some really great buys available right now, well priced homes are receiving multiple offers and investors are out shopping. 

This is a great time to be on the market priced to sell.

There are currently 15 homes for sale in Alamitos Beach.

Average Price: $724,920

Average Days on Market:  75

1 home in Alamitos Beach is in escrow accepting back-up offers. 

Average Price: $595,900

Average Days on Market: 62

3 homes in Alamitos Beach are currently pending in escrow.

Average Price: $303,966

Average Days on Market: 14

3 homes in Alamitos Beach have Sold (closed escrow) in 2008. 

Average Price: $442,666

Average Days on Market: 100

1 home in Alamitos Beach is currently on hold (no showings).

Average Price: $199,000

Average Days on Market: 233

9 Alamitos Beach homeowners cancelled their listings.

Average Price: $480,322

Average Days on Market: 111

1 Alamitos Beach Home has withdrawn from the market.

Average Price:  $297,000

Average Days on Market:  149

6 Alamitos Beach homes listings expired.

Average Price: $597,983

Average Days on Market: 158

1 Alamitos Beach Home for sale was leased. 

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