Before we get into what's going on with the condo market in Los Angeles county California we hope that everyone is having a happy Dr. Martin Luther King Day and remembers the great work he did for everyone.
So what has happened in the condo market in Los Angeles county which of course affects long beach condos.
Well let's look at the graph of what happened in 2007 and in 2006 for condos sales and see how that will translate into where we are going in 2008.
- November condo sales in 2007 were up from October sales. This is actually great news when you look at last year sales were down in the same month. In fact sales were up almost 10% from the previous month.
- Overall condo sales are down 32% from the same point in time last year. While this is a large number there are several factors to consider: 2006 was still a record year and home sales were down an even greater number. Check out the post on home sales for more information and detail.
Overall when you look at how home sales are down and the fact that condo sales are down less it is a good sign for sellers who are looking to sell their condos. I am not saying that the condo market is going crazy but it does show there are available condo buyers and people have not abandoned the long beach condo or the Los Angeles condo so happy buying and selling!
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