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Apr
5


Long Beach Real Estate 1st Quarter 2008 Market Report

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Long Beach Real Estate Sales

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

 

 

 


Laurie Manny
Long Beach Realtor (562) 212-5420

\"\"
Main Street Realtors Belmont Heights 244 Redondo Avenue Long Beach California 90803

\"\"
Long Beach Real Estate BlogLong Beach Real Estate Website

\"\"

\"\"

\"\"
Long Beach Real Estate 1st Quarter 2008 Market Report
Posted on April 5, 2008 by Laurie Manny

One Comment »

  • maggie vancouverreflections [Visitor] said:

    greetings from sunny vancouver, canada! 75% of all vancouver real estate sales are condos. average price now $400K. our market is slower than the last few years, more listings coming on and prices have doubled in last 5 years. most asked question i’ve had this year “how does the US subprime affect vancouver real estate?” apparantely it doesn’t..or not yet anyway. British Columbia trades less with the US than any other province. We love california and wish you the best.

    # 31 December 1969 at 4:00 PM

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Laurie Manny

\"\"

Main Street Realtors
Belmont Heights
244 Redondo Avenue
Long Beach California 90803

Lic.#01321200

.

(562) 212-5420


Contact Laurie

Long Beach Real Estate Blog

\"\"

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