Is Long Beach, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Long Beach has remained a Seller's Market.
Housing Prices in Long Beach, CA
How much do homes in Long Beach, CA cost?
Median Sold Price
$801,644
$622/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Long Beach was $801,644 in May 2024, up 3.9% from last year, and the median price per square foot was $622.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $430K | $437.6K | +1.8% |
2 Bedrooms | $624.2K | $660K | +5.7% |
3 Bedrooms | $885K | $925.6K | +4.6% |
4 Bedrooms | $1.0M | $1.1M | +12.9% |
5+ Bedrooms | $1.3M | $1.3M | +1.1% |
Summary: Long Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 1.1%.
Median Sold Price Compared To Nearby Cities
Lakewood | $788.8K | $839K | +6.4% |
Long Beach-Lakewood | $775K | $814.9K | +5.2% |
Hawaiian Gardens | $535K | $557.5K | +4.2% |
Long Beach | $771.5K | $801.6K | +3.9% |
Signal Hill | $630K | $600.6K | -4.7% |
Housing Supply in Long Beach, CA
How many homes are available in Long Beach, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
742 | 779 | +5.0% |
Summary: The Long Beach real estate market had 779 homes for sale in May 2024, a 5.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 97 | 106 | +9.3% |
2 Bedrooms | 258 | 258 | 0.0% |
3 Bedrooms | 253 | 253 | 0.0% |
4 Bedrooms | 91 | 104 | +14.3% |
5+ Bedrooms | 43 | 58 | +34.9% |
Summary: The Long Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.3%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 34.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
183 | 190 | +3.8% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
45 Homes Were Sold
At Asking
93 Homes Were Sold
Over Asking
Summary: A total of 190 homes were sold or pending in Long Beach in May 2024, up by 3.8% month-over-month. Of the 190 sold homes, 27% were sold under asking, 24% were sold at asking, and 49% were sold over asking.
Days on Market for Long Beach, CA
How long does it take to sell a home in Long Beach, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
32 Days | 30 Days | -3.9% |
Summary: Homes in Long Beach had an average of 30 days on market in May 2024, down by 3.9% compared to last year.
Breakdown of Home Sale Times
137 Homes Were Sold
Under 30 Days
35 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Summary: During May 2024, 190 homes were sold in Long Beach; 72% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.