Long Beach Real Estate 1st Quarter 2008 Market Report
Long Beach Real Estate 1st Quarter 2008 Market Report
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
Prudential California Realty
Bixby Knolls
3728 Atlantic Avenue
Long Beach, CA 90807
Long Beach CA Real Estate
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