November has come and gone and Thanksgiving dinner is well behind us. There is still time to report on what happened in Long Beach real estate for November.
So let's take a look at what happened this past month.
- Number of Active properties at the end of the month: 1998
- Number of Expired Properties: 242
- Number of properties that sold: 141
- Number of new listings: 381
So what does all of this mean?
Well the number of properties that are being sold within a month continue to decline. It is the time of year where less properties are being sold overall as some buyers do not want to move during the holidays. However some of the most motivated buyers are around this time of year and that is an important thing to keep in mind.
Our overall inventory declined. This is a good thing. Sellers who were not completely motivated removed their property from the market.
The number of new listings was also down meaning that the number of properties that were newly listed declined from October. This also is a great sign that only sellers who are motivated to work with buyers want to list their homes for sale.
Even though the pace of buying has stopped it still appears that with interest rates staying low and motivated sellers it is a great time to be a buyer.
2 comments:
The new listing data is encouraging.
Happy to help, we will be putting up data each month so you can see how the inventory changes.
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