subject: Long Beach Real Estate Market Comparison Report (february 2009 Vs. February 2010) [print this page] We analyze several housing market indicators in order to present an in-depth breakdown of Long Beach Real Estate Market. The current report covers February data comparing February 2009 to February 2010.
Summary of Key Points
Key Statistics, Long Beach, CA: Median Sales Price (5.65%), Median Days on Market (-18.47%), and Number of Units Sold (-14.97%), Sales Price to List Price Ratio (Feb 09 95% - Feb 10 98%)
Long Beach Real Estate has started showing signs of improvement with median sales price climbing up while at the same time houses are selling faster .Sellers are being paid 98% of the list price as compared to 95% last year.
Long Beach Real Estate
The city of Long Beach experienced a 5.65% increase in median sales price from last year going up from $349,459 (Feb. 09) to $369,218 (Feb. 2010). Median days on market data for Long Beach show that houses are selling faster than Feb 2009. It took 64 days in Feb 09 for a house to sell and for Feb 10 that number has gone down to 52 days (an 18.47% improvement). As a result, homes in Long Beach are selling faster this year. Another important factor to consider is total number of units sold. In the month of Feb 09, 147 units were sold compared to 125 for Feb 2010 (-14.97% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Long Beach. SP/LP ratio for Feb 09 was 95% compared to 98% for Feb 10.
Lets take a brief look at neighbors Downey and Redondo Beach. Downey Real Estate featured a 17.26% increase in median sales price ($374,230 Feb 09 - $438,818 Feb 10) and Redondo Beach Real Estate saw a substantial increase ($270,755 Feb 09 - $721,029 Feb 10). Are houses in Redondo Beach and Downey selling faster or slower this year? Well, Redondo Beach Real Estate experienced a 46.46% increase (46 to 67 days) in median days on market and Downey saw a 338.80% increase (16 to 71 days). In the units sold category, Downey sold 4 units less (-8.0%) in Feb 2010 than 09 and Redondo Beach sold 12 units less (-41.38%) in Feb 2010 than Feb 09.
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