Have homes stopped being sold? Is no one buying anything across all of Los Angeles County? Hardly! Homes in fact are still being sold all across Los Angeles county. For those new to the blog Long Beach is part of Los Angeles county and is one of the largest cities in the county.
Why do we cover sales for the entire county?
We do this so everyone knows that they are in the same boat so to speak.
So let's look at the sales across the county for just homes for the last two months and take them into consideration in comparison to last years sales.
Now let's get this right out in the open that sales aren't what they were last year and people said that 2007 was not a good year. So far the number of homes that have sold across the county is decidedly less than last year but prices are not down the same percentage as the number of homes that were sold. For every one's reference the numbers do not include condos. Those are reported separately and we will have a separate post on those as well.
- March 2008 sales are down over 50% from last year
- April 2008 sales were down 27% from the same period as last year
So what does this all mean. Does it mean that May was just a killer month and all is well? Not exactly but it does show that the market is really returning to regular activity. The great news for everyone is prices are not down 50% and rates aren't at 19%. There are some parts of Los Angeles county, just like in Long Beach, that people are facing multiple offers. There are many areas of Long Beach and nearby Lakewood were homes are being sold in days and not weeks. Keep that in mind as you look for your next home or are considering selling your property.
You can always use the FREE MLS on our blog to check out what is available in your market and feel free to create your own free market snap shot of the properties available near your home with our market snap shot report that you can get by filling out the form to the right.
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