Where are the buyers in Long Beach?

Now I don't want people to freak out when they read this. In fact there are buyers in Long Beach CA. In fact there are buyers in all areas of this country. The trick is are they are the price that you need them to be at if you are a seller? So today I thought I would cover Downtown Long Beach and the activity we have seen there in May so far. I will break down the other areas of Long Beach as we go on until we get to the end of the month.

All of the numbers below are what has happened since May 1st and are taken from the realtor MLS. So here is what happened so far.

• Total Active in Long Beach as of today: 1,876
• Total Pending in Downtown: 28
• Total Backup in Downtown: 14
• Total Closed in Downtown: 6
• Total New Listings in Downtown: 95
• Total Active in Downtown: 411
• Downtown Percentage of Long Beach Market as of Actives: 21.9%

So what does this all mean for the downtown long beach market? Well it means we have 10.2 months supply of property available. Now this is getting close to that 12 month mark where people consider it a buyers market but not there yet. It does mean, in my eyes, that sellers want to be agressive in price. Especially since new properties are being built in downtown.

The percentage of the Long Beach market may seem high, only time will tell. This will play out as we report on what is happening in other areas. We will say that there are some nice choices available for buyers in the downtown area. Some areas in Long Beach do not have as many choices. I would say if you were a buyer right now who wanted to be in downtown you will have a few choices. Be warned though as the best deals still go quickly!

Let us know what you think!