Long Beach Real Estate-Long Beach Condos

Long Beach Lofts - Market Update

 

Last Updated 1/15/2010

 

Have you been out looking for a condo in Long Beach? Not finding anything that suits you? Really wanting something a bit different? Looking for something a little more upscale and a little less apartmenty? There may be a loft in your future! Long Beach has lofts of all types; High Rise, Low Rise, Historic or Sleek and Modern...there is a loft in Long Beach to suit your taste!

Back in 2003 Long Beach experienced its first stirrings in the loft market, both in Downtown Long Beach and in Alamitos Beach. The first loft conversion was being completed and others were in the works bringing with them more variety when choosing a place to live and a lifestyle. The first year, 2003, 1 loft sold in Long Beach! 2004 saw 3 loft sales, 2005 increased to 11 loft sales, 2006 saw another increase to 22 loft sales, 2007 topped out at 24 loft sales, then our real estate market collapsed. 2008 sales dropped to just 13 lofts sales as owners struggled with sub prime problems and their adjusting mortgages. 2009 sales rebounded to 24 sales strong as some of these units became short sales and foreclosures with affordable price tags! (See chart below for Long Beach loft sales statistics for 2000 through 2009)

Lofts for Sale in Long Beach

There are currently 10 lofts for sale in Long Beach ranging in price from $300,000 to $1,030,000.

• Average Listing Price: $503,880
• Average Days on Market: 89

Long Beach Lofts for Sale as of January 15, 2010

#	MLS#	Address	Bed	B t/f	St	Gar	SqFt	List Price	DOM
1	P713949	829 Pine Ave	0	1/1	1	1	1,030	$300,000	36
2	P702800	207 E Broadway 302	1	2/1	1	1	1,450	$325,000	35
3	CLW-08336631	133 THE PROMENADE 103	1	3/		0	1,570	$325,000	389
4	R907668	835 Locust Ave 215	1	1/1	1	2	1,924	$394,900	29
5	R907714	835 Locust Ave 320	1	1/1	1	2	1,620	$419,900	25
6	S599709	835 Locust Ave 326	2	1/1	1	2	2,019	$420,000	23
7	S599689	849 Pine Ave A	1	1/1	S	2	1,209	$580,000	22
8	P699791	835 Locust Ave 618	1	1/1	1	2	1,970	$619,000	153
9	P716339	835 Locust Ave 617	3	2/1	2	2	2,620	$625,000	10
10	P690560	207 E Broadway St 201	2	2/2	1	0	2,730	$1,030,000	224
Average			1			2	1,814	$503,880	95
Number of Properties: 10
Average ( ListPrice / SqFt ) : ( 503880 / 1814 ) = $ 277.77

Call Laurie to schedule an appointment to view any of these properties (562) 212-5420

Lofts in Long Beach in escrow, accepting back-up offers

There are currently 6 Long Beach lofts in escrow, accepting back-up offers.

• Average Price: $335,450
• Average Days on Market: 209

Lofts in Long Beach Pending in Escrow

There are currently 4 Long Beach Lofts Pending in Escrow.

• Average Price: $288,000
• Average Days on Market: 112
  

• 10 Long Beach Loft Homeowners cancelled their listings in 2009.
• 12 Long Beach Loft Listings expired.

Long Beach Lofts - SOLD - 2009

Comparable Sales

#	MLS#	Address	Bed	B t/f	St	Gar	SqFt	Sold Price	SP/ SqFt	Sold Date	DOM
1	P692792	835 Locust Ave 111	0	1/1	1	1	791	$220,000	$278.13	12/07/2009	77
2	P646655	834 E 4th St 20	1	2/0	S	2	839	$280,000	$333.73	1/02/2009	171
3	P689300	133 The Promenade 105	1	2/1	3	2	993	$325,000	$327.29	9/29/2009	83
4	P694147	1100 E 3rd St 201	1	3/1	1	2	1,530	$295,000	$192.81	10/15/2009	10
5	P682825	835 Locust Ave 217	0	1/1	1	1	1,943	$320,000	$164.69	7/27/2009	58
6	P673514	395 E 4th St 17	1	2/1	2	1	1,770	$329,900	$186.38	6/10/2009	23
7	P667507	835 Locust Ave 425	1	1/1	3	2	1,324	$332,500	$251.13	8/26/2009	201
8	R902638	100 W 5th St	1	1/1	3	0	1,129	$345,000	$305.58	8/25/2009	122
9	P658244	835 Locust Ave 510	1	1/1	1	1	989	$325,000	$328.61	4/22/2009	154
10	P617818	835 Locust Ave 518	2	1/1	3	2	1,951	$350,000	$179.40	9/18/2009	603
11	R902978	1100 E 3rd St 201	0	3/1	2	2	1,530	$340,000	$222.22	6/20/2009	0
12	P688061	100 W 5th St 5e	1	1/1	1	1	1,100	$357,000	$324.55	9/15/2009	86
13	P678974	835 Locust Ave 517	0	2/2	1	1	2,240	$369,900	$165.13	6/15/2009	51
14	R906749	115 W 4th St 209	1	1/1	3	0	1,730	$375,000	$216.76	12/11/2009	15
15	P679662	100 W 5th St 8c	1	1/1	2	1	1,044	$367,000	$351.53	7/10/2009	114
16	S565460	395 E 4th St 2	1	2/1	S	2	1,770	$399,000	$225.42	4/08/2009	5
17	S594514	115 W 4th St 402	1	1/1	1	2	1,454	$399,900	$275.03	12/22/2009	0
18	P659722	835 Locust Ave 118	1	1/1	1	2	1,578	$383,000	$242.71	10/16/2009	322
19	CLW-08336197	133 N THE PROMENADE 115	3	2.5/		0	1,875	$434,500	$231.73	5/14/2009	144
20	CLW-09340187	133 THE PROMENADE 114	2	2.5/		0	1,800	$437,500	$243.06	5/27/2009	135
21	P689305	133 The Promenade 405	1	3/2	2	2	2,461	$460,350	$187.06	7/31/2009	7
22	P580270	835 Locust Ave 418	1	1/1	1	0	1,951	$470,000	$240.90	5/15/2009	628
23	P592397	835 Locust Ave 610	2	1/1	2	0	1,249	$495,000	$396.32	1/30/2009	497
24	P617831	835 Locust Ave 615	2	1/1	2	2	2,970	$700,000	$235.69	2/20/2009	393
Average			1			2	1,584	$379,606	$254.41		177
Number of Properties: 24
Average ( SalePrice / SqFt ) : ( 379606 / 1584 ) = $ 239.65

*Loft sales are those that are recorded in the SoCalMLS.

*These figures do not include sales made by builders, not listed in the MLS.

Long Beach Loft Sales 2000 - 2009

Year	# Sold	Average Sold Price	Average Days On Market
2009	24	$379,606	177
2008	13	$517,230	230
2007	24	$486,716	94
2006	22	$690,547	72
2005	11	$726,263	55
2004	3	$730,666	48
2003	1	$505,000	97
2002	0	$0	0
2001	0	$0	0
2000	2	$93,000	0

*Loft sales are those that are recorded in the SoCalMLS.

*These figures do not include sales made by builders, not listed in the MLS.

 

 

 

The Lofts of Long Beach

• Temple Lofts 835 Locust Avenue Downtown Long Beach
• Kress Lofts 100 W 5th Street Downtown Long Beach
• Walker Building 115 W 4th Street Downtown Long Beach
• The Insurance Exchange 207 E Broadway Downtown Long Beach (on the Promenade)
• Courtyard Lofts 849 Pine Avenue
• Ebell Lofts 1100 E 3rd Street Alamitos Beach Long Beach CA
• BLU Condos-Townhouses-Lofts-350 Long Beach Blvd Downtown Long Beach

Long Beach Lofts Market Update and Recent Sales

Call Laurie today to view available lofts in Long Beach (562) 212-5420

Laurie Manny Professional Group

244 Redondo Avenue
Belmont Heights
Long Beach, California 90803

(562) 212-5420

 

http://www.longbeachrealestatehome.com/00A5BA