Now you might be saying that we haven't finished October yet so how could the results already bee in. Well we have compiled the data through this morning for Active, Sold, and Expired only so we will have more to report tomorrow when things are finished up today.
So what did happen in October and more importantly what has been happening this last 6 months? Well we put together a graph to make things a little easier to see.
Long Beach Results for October 2007
So what is happening. Well other than a slight drop in August more homes are coming on the market. The number of Expired homes has risen slightly. What does this mean? It may mean that some sellers cannot lower their price or they do not want to lower their price. Homes and condos are being sold and while sales are off almost 50% from last year that is the the same across Los Angeles County. So if you are looking to sell you can still do so even as more competition comes onto the market. Long Beach currently has 14.35 months of supply of properties (supply is calculated as Number of active properties\number of sold in the month) as a city although this varies by area which we will cover over the next several days.
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