It is always important to take a look back every month and see what happened in the market space. When buyers and sellers are looking out a property it would help to know how all real estate in Long Beach is performing. Performance of real estate in long beach can be looked at many different ways. We like to look at how many new properties came on the market in Long Beach and how many properties were sold during the month.
If a market has inventory growing at a pace that is too rapid for the market could absorb there may be an economic issue in the market place. For the month March we had a 27% increase in the number of properties that came on the market. This is not terrible considering we are entering spring time.
- We still had a very healthy 265 properties close during the month and 189 properties going into escrow.
- Number of properties that went into a Pending Status - 189
- Number of Properties that Closed: 265
- Number of Properties that Expired 135
- Total Active as of today: 1589
- Total Active at the start of March 1252
As a whole things in Long Beach are moving in a positive direction. One might want to think otherwise as a result of the data above but the market continues to have sellers selling and buyers buying.
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