Long Beach Real Estate-Long Beach Condos

Long Beach California Luxury Homes 2010 Market Update

Updated February 24, 2010

What's going on in the Long Beach Luxury Homes Market?

Long Beach Luxury Homes market sales are starting off 2010 with lower sale prices, shorter days on market and lower price per square foot.  The luxury homes market is experiencing a sizable variety of homes for sale, but few closed sales.  Compared to the same time frame in 2009 sales this year have doubled to a grand total of 4, last year in the same time frame only 2 luxury homes had closed escrow. We will be watching the luxury home market closely this year for more activity.  Prices are coming down slowly and buyers are watching, waiting for the right price. 

 

1/1/2000 THROUGH 2/24/2010		# SOLD	AVG SOLD PRICE	PRICE SQ. FT.	DAYS ON MARKET
2010	YTD	4	$1,290,000	$519.95	82
2009		49	$1,345,808	$456.05	141
2008		82	$1,568,406	$546.48	101
2007		144	$1,421,877	$512.94	81
2006		152	$1,515,896	$537.17	84
2005		191	$1,672,615	$592.29	63
2004		101	$ 1,389,806	$468.11	66
2003		66	$1,550,296	$463.19	73
2002		35	$1,320,650	$378.52	81
2001		18	$1,281,000	$360.44	80
2000		17	$1,648,529	$447.48	137

74 Luxury Homes in Long Beach over $1,000,000 are for sale: 

• Average Price:  $1,887,079
• Average Price per sq. ft.:  $553.40
• Average Days on Market:  146
  

9 Long Beach Luxury Homes are currently in escrow:  

6 are accepting back-up offers:

• Average Price:  $2,785,500
• Average Price per sq. ft:  $670.88
• Average Days on Market:  166
  

 

3 are pending:

• Average Price:  $1,548,333
• Average Price per sq. ft:  $397.11
• Average Days on Market:  119

 

4 Long Beach Luxury Homes Sold 1/1/2010 - 2/24/2010

• Average Price:  $1,290,000
• Average Price per sq. ft.:  $481.16
• Average Days on Market:  82
  

2010 Closed Luxury Homes Sales Breakdown:

• Naples Island 3 bdrm, 2 bath 2, 747 sq ft, Closed at $1,100,000, 207 Days on Market. 
  
• Naples Island 3 bdrm, 1 bath 1,900 sq ft,  Closed at $1,729,000, 53 Days on Market. 
• Belmont Heights 3 bdrm, 2 bath 2,878 sq ft, Closed at $1,056,000, 60 Days on Market. 
• Los Altos 3 bdrm, 2 bath 3,200 sq ft, Closed at $1,275,000, 82 Days on Market. 

*List of closed sales will be provided upon request.

 

• 8 Long Beach Luxury Homes cancelled their listings. 
  
• 7 Long Beach Luxury Home listings expired. 
  
• 1 Long Beach Luxury Home withdrew from the market. 
  

 

Long Beach Luxury Homes Absorption Rate: 

• 83 Luxury homes for sale and/or in escrow
• 7 Long Beach Luxury homes sold in December 2009
• 83 Luxury homes divided by average sales of 7 per month = 11.8 months for the market to absorb the existing luxury homes inventory.  
• Absorption rate does not account for new inventory entering the market.
  

Long Beach Luxury Homes over $1,000,000 For Sale

Updated automatically from the MLS

 

(Direct feeds from the Southern California MLS)

Belmont Shore and Naples Island Luxury Real Estate For Sale

• Belmont Shore and Naples Condos For Sale-Long Beach Real Estate

• Belmont Shore Naples Homes For Sale in Long Beach CA $2000000 and up
• Belmont Shore CA Homes for sale under $1000000
• Belmont Shore-Naples Homes For Sale in Long Beach California $1000000 to $2000000
• Marina Pacifica Condos for Sale Long Beach CA

Long Beach Homes For Sale

• Long Beach Homes For Sale $300000 to $400000
• Long Beach Homes For Sale $400000 to $500000
• Long Beach Homes For Sale $500000 to $700000
• Long Beach Homes For Sale $700000 to $900000
• Long Beach Homes For Sale $900000 to $1200000
• Long Beach Luxury Homes For Sale $1200000 to $2500000
• Luxury Homes For Sale in Long Beach California $2.5 Million and up

Long Beach Condos For Sale

• Long Beach Condos For Sale $1,500,000 and higher
• Long Beach Condos For Sale $1,000,000 to $1,500,000
• Long Beach Condos For Sale $900,000 to $1,000,000
• Long Beach Condos For Sale $800,000 to $900,000
• Long Beach Condos For Sale $700,000 to $800,000
• Long Beach Condos For Sale $600,000 to $700,000
• Long Beach Condos For Sale $500,000 to $600,000
• Long Beach Condos For Sale $400,000 to $500,000
• Long Beach Condos For Sale $300,000 to $400,000
• Long Beach Condos For Sale Under $300,000

Long Beach Income Properties For Sale

• Income Property For Sale in Long Beach California-5+ Units
• 2 to 4 Units For Sale in Long Beach California
• Triplexes For Sale in Long Beach California
• Duplexes For Sale in Long Beach California

Laurie Manny Professional Group

244 Redondo Avenue
Belmont Heights
Long Beach, California 90803

(562) 212-5420

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Belmont Shore-Naples Island-Belmont Park-Homes For Sale-Long Beach Real Estate
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