Long Beach Real Estate 1st Quarter 2008 Market Report
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1st Quarter Market Report 2008
The spring home buying season is in full swing here in Long Beach. Prices have become very desirable, and many properties are in high demand receiving multiple offers. Strong offers have become highly sought and are being accepted quickly. All Cash, large down payments and little to no concessions by the seller have become the order of the day for the more highly desirable properties.
First quarter average single family home sale price: $ 516,014.
Average 70 days on market.
| Active - 877 Properties | ||||||||||
| Bedrooms | Baths |
Square Feet |
List Price | LP/SqFt | Sale Price | SP/SqFt | SP/LP | SP/OLP | DOM | |
| Min | 1 |
1 |
0 |
$
129,000 |
$
0 |
$
0 |
$
0 |
% |
% |
5 |
| Avg | 2 |
2.00 |
1526 |
$
606,043 |
$
386 |
$
0 |
$
0 |
% |
% |
97 |
| Max | 10 |
34 |
10000 |
$
8,400,000 |
$
3,203 |
$
0 |
$
0 |
% |
% |
554 |
| Pending Sale - 145 Properties | ||||||||||
| Bedrooms | Baths |
Square Feet |
List Price | LP/SqFt | Sale Price | SP/SqFt | SP/LP | SP/OLP | DOM | |
| Min | 1 |
1 |
532 |
$
215,000 |
$
172 |
$
0 |
$
0 |
% |
% |
0 |
| Avg | 2 |
1.75 |
1446 |
$
530,831 |
$
364 |
$
0 |
$
0 |
% |
% |
82 |
| Max | 5 |
7 |
5162 |
$
2,600,000 |
$
1,287 |
$
0 |
$
0 |
% |
% |
312 |
| Closed Sale - 702 Properties | ||||||||||
| Bedrooms | Baths |
Square Feet |
List Price | LP/SqFt | Sale Price | SP/SqFt | SP/LP | SP/OLP | DOM | |
| Min | 0 |
1 |
0 |
$
99,990 |
$
0 |
$
1 |
$
0 |
0% |
0% |
0 |
| Avg | 2 |
1.75 |
1342 |
$
516,014 |
$
398 |
$
498,782 |
$
383 |
97% |
92% |
70 |
| Max | 7 |
5 |
4820 |
$
1,899,000 |
$
1,136 |
$
1,828,000 |
$
1,079 |
113% |
141% |
396 |
| Backup Offers - 59 Properties | ||||||||||
| Bedrooms | Baths |
Square Feet |
List Price | LP/SqFt | Sale Price | SP/SqFt | SP/LP | SP/OLP | DOM | |
| Min | 2 |
1 |
682 |
$
229,900 |
$
180 |
$
0 |
$
0 |
% |
% |
3 |
| Avg | 3 |
2.00 |
1577 |
$
611,288 |
$
375 |
$
0 |
$
0 |
% |
% |
74 |
| Max | 5 |
4 |
4958 |
$
2,499,000 |
$
1,177 |
$
0 |
$
0 |
% |
% |
324 |
Long Beach Condo Sales are up as well.
Average selling price for the first quarter is $356,026.
Average 66 days on market.
| Active - 494 Properties | ||||||||||
| Bedrooms | Baths |
Square Feet |
List Price | LP/SqFt | Sale Price | SP/SqFt | SP/LP | SP/OLP | DOM | |
| Min | 0 |
1 |
290 |
$
115,000 |
$
151 |
$
0 |
$
0 |
% |
% |
5 |
| Avg | 1 |
1.75 |
970 |
$
381,605 |
$
385 |
$
0 |
$
0 |
% |
% |
97 |
| Max | 4 |
3.5 |
3249 |
$
2,695,000 |
$
893 |
$
0 |
$
0 |
% |
% |
458 |
| Pending Sale - 63 Properties | ||||||||||
| Bedrooms | Baths |
Square Feet |
List Price | LP/SqFt | Sale Price | SP/SqFt | SP/LP | SP/OLP | DOM | |
| Min | 0 |
1 |
272 |
$
149,900 |
$
178 |
$
0 |
$
0 |
% |
% |
-1 |
| Avg | 1 |
1.75 |
1030 |
$
362,434 |
$
354 |
$
0 |
$
0 |
% |
% |
84 |
| Max | 3 |
3 |
2159 |
$
850,000 |
$
644 |
$
0 |
$
0 |
% |
% |
322 |
| Closed Sale - 350 Properties | ||||||||||
| Bedrooms | Baths |
Square Feet |
List Price | LP/SqFt | Sale Price | SP/SqFt | SP/LP | SP/OLP | DOM | |
| Min | 0 |
1 |
296 |
$
67,105 |
$
0 |
$
67,105 |
$
0 |
81% |
1% |
0 |
| Avg | 1 |
1.75 |
957 |
$
356,026 |
$
371 |
$
348,013 |
$
366 |
98% |
94% |
66 |
| Max | 4 |
3.5 |
2430 |
$
1,400,000 |
$
835 |
$
1,325,000 |
$
833 |
118% |
113% |
434 |
| Backup Offers - 20 Properties | ||||||||||
| Bedrooms | Baths |
Square Feet |
List Price | LP/SqFt | Sale Price | SP/SqFt | SP/LP | SP/OLP | DOM | |
| Min | 1 |
1 |
765 |
$
239,900 |
$
272 |
$
0 |
$
0 |
% |
% |
13 |
| Avg | 2 |
2.00 |
1184 |
$
517,959 |
$
415 |
$
0 |
$
0 |
% |
% |
91 |
| Max | 3 |
3 |
1865 |
$
1,649,000 |
$
916 |
$
0 |
$
0 |
% |
% |
277 |
The sale of Long Beach Income Properties is up a bit with 169 closing escrow in the first quarter.
Average sale price: $650,5227.
Average 91 days on market.
| Active - 319 Properties | |||||||||
|
Units |
Bldg SqFt |
GSI |
List Price | LP/SqFt | SP/SqFt | SP/LP | SP/OLP | DOM | |
| Min | 2 | 0 | $ 0 | $ 264,900 | $ 86 | $ 0 | % | % | 5 |
| Avg | 2 | 2,354 | $ 24,261 | $ 661,065 | $ 290 | $ 0 | % | % | 110 |
| Max | 4 | 5,278 | $ 83,400 | $ 5,500,000 | $ 1,118 | $ 0 | % | % | 656 |
| Pending Sale - 18 Properties | |||||||||
|
Units |
Bldg SqFt |
GSI |
List Price | LP/SqFt | SP/SqFt | SP/LP | SP/OLP | DOM | |
| Min | 2 | 1,168 | $ 0 | $ 320,000 | $ 97 | $ 0 | % | % | 6 |
| Avg | 2 | 2,229 | $ 16,645 | $ 498,216 | $ 232 | $ 0 | % | % | 82 |
| Max | 4 | 6,130 | $ 57,600 | $ 1,249,995 | $ 537 | $ 0 | % | % | 323 |
| Closed Sale - 169 Properties | |||||||||
|
Units |
Bldg SqFt |
GSI |
List Price | LP/SqFt | SP/SqFt | SP/LP | SP/OLP | DOM | |
| Min | 2 | 859 | $ 0 | $ 215,000 | $ 0 | $ 0 | 80% | 62% | 0 |
| Avg | 2 | 2,353 | $ 25,127 | $ 650,527 | $ 297 | $ 277 | 98% | 94% | 91 |
| Max | 4 | 5,698 | $ 99,780 | $ 1,379,900 | $ 625 | $ 520 | 116% | 141% | 448 |
| Backup Offers - 11 Properties | |||||||||
|
Units |
Bldg SqFt |
GSI |
List Price | LP/SqFt | SP/SqFt | SP/LP | SP/OLP | DOM | |
| Min | 2 | 1,336 | $ 0 | $ 325,000 | $ 183 | $ 0 | % | % | 5 |
| Avg | 3 | 2,472 | $ 41,223 | $ 625,354 | $ 244 | $ 0 | % | % | 75 |
| Max | 4 | 3,725 | $ 65,256 | $ 895,000 | $ 350 | $ 0 | % | % | 205 |
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| Laurie MannyLong Beach Realtor (562) 212-5420 |
|
Main Street Realtors Belmont Heights 244 Redondo Avenue Long Beach California 90803 |
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· http://www.vancouverreflections.com
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