So in our last entry we noted what the sales were for the entire city of Long Beach CA. We hope everyone found this useful However since no one lives in the entire city it is useful to know what is going on in your area or part of the city. So today we thought we could go over Downtown Long Beach.
The sales stats below are from the MLS and for all residential properties in the Downtown area. If someone has accidentally put a property in the wrong area we of course won't pick that up. So here we go with our downtown long beach sales information! This is a picture of a fantastic building in downtown that has been affected by the increase in choices that are now available to consumers.
July Sales Statistics
- New Listings - 123
- Active Properties - 437
- In Escrow Properties - 36 (Pending - 28, 8 closed)
- Expired 41
So what does this all mean for our properties that everyone owns in Downtown Long Beach? It means we have just over 12 months of inventory. Over 12 months is definitely not preferred. In fact there is more than 12 months because new builder inventory is not included in the figures above because they tend to not put their properties on the MLS. This does mean that sellers are going to have to be even more creative. Be prepared to lower your price and accomodate buyers to help them achieve their goal of buying so it will achieve your goal of selling.
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