Often times we aren't sure what is going on. So we have to see what is actually happening in the long beach real estate market to get an idea. With real estate being all over the news for the wrong reasons it is a good idea to make sure you have all the facts that you need in order to make an informed decision about your share of long beach real estate. If you own a home and are thinking of selling or you are looking to purchase your first piece of long beach real estate this stastics combined with advice from a local professional will help you make the decision that is best for you. So here we go!
As we do every month the stastics reported are from the SoCalMLS system which covers the city of Long Beach. Sales made outside the system will not be included and this only represents residential sales.
July 2007
- New Listings for the month - 586
- Active Properties at the end of the month - 2065
- Properties going into escrow (Pending & Backup) - 240 (Pending -159, Backup 81)
- Closed Sales - 207
- Expired 164
So the statistic that is most often quoted which is months supply of property is calculated as number of homes available divided by closed sales. Using that measure we have 9.97 months of properties available. That is stil misleading as some areas of the city are better than others. The graph below illustrates how things have been going for the last several months. We welcome the comments.
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