5 Year Trend of Sales in Long Beach in 3 Different Zip Codes

What is going on in each zip code in Long Beach? You know the saying "Real Estate is local." This is no more apparent then when you start looking at how many homes are sold in a particular zip code over a period of time. The chart in this post represents 5 years worth of sales in 3 different zip codes for the month of April.

There are some questions that may or may not be going through your mind at the moment and I want to add a couple more to the mix.

As they say if we don't learn from history we are doomed to repeat it. Let's see if we can get answers to some of these questions:

• What can we really tell by one month?
• What does this tell us about the future?
• What does this tell us about the areas?

So what Zip Codes and areas are we covering? Well we are covering the following 3 zip codes in this report:

• 90805 - This is referred to primarily as North Long Beach.
• 90802 - This area includes most of downtown long beach and there is a high density of condos to choose from in this zip code.
• 90807 - Known as Bixby Knolls just north of the 405 freeway off of Long Beach Blvd. To be fair there are many sub areas of Bixby Knolls that you should take a look at and you can see those at http://www.lovelybixbyknollshomes.com/.

What does it all mean?

• The 90807 sales are up over 10%! There are construction projects and businesses making moves in Bixby Knolls.
• 90802 - Sales in Downtown are down from 5 years ago. There is more inventory to choose from and buyers have new contruction and resales to choose from. The good news is that the sales from 2007 to 2008 remained flat.
• 90805 - Sales in North Long Beach are up from last year and are on a pace with previous years. This area also has business and city development to assist with growth.

The future is not as bleak as it seems. It is funny how 5 years goes by so quickly. You want to make sure to look to the long term when purchasing a home or a condo. Take a look at the different areas at the MLS to the right or at http://www.lovelylongbeachhomes.com/ to see what you can choose from.

Related Posts

• Bixby Knolls Updates for May 2008

Long Beach Real Estate Statistics for April 2008

The Long Beach Market Report

It is the first of the month and like payroll checks we list the real estate sales statistics for Long Beach. So let's take a look and see what happened the previous month in Long Beach, CA.

The market is moving. Just this week a buyer purchased a very nice condo in downtown for $150,000!

So let's look at the activity in the Long Beach Real Estate market for April 2008.

• Total Active Listings: 1,841
• Total Expired Listings: 189
• Total Listings Sold (Pending & Backup): 240
• New Listings: 428

So the sales are moving up in the right direction. The fact is homes are selling and people are working together to get deals done. The overall inventory in Long Beach is not increasing at a dramatic level. In fact from March to April the Active inventory has actually decreased. So deals are happening you just have to put an offer across.

We will continue to report on the different areas of Long Beach so that everyone can see what their neighborhood is doing in the stat reports.

Related Posts

• Belmont Heights & Alamitos Beach Report
• Belmont Shore & Naples Report

Year to Date Home Sales for Long Beach CA

March has come and gone and we are in to April. So did March bring us a windfall or a shortfall for sales? Were sales up or down? Well we won't know till we look at the data. So let's take a look at the number of properties sold year to date in Long Beach. I have included all residential sales reported as closed through the MLS. The chart does not reflect sales of properties over 4 units.

Remember that numbers can be made to confess to anything so let's see what they are willing to tell us today.

1. Total Sales Year to Date: 358 (January 1st 2008 to March 31st 2008)
2. Last Years Sales to Date: 813 for the same period.

So the number of sales that took place was over 50% less than the same period as the year before. There are several reasons for this.

• First, the impression has been that it is not a good time to buy real estate which has scared some buyers. Rates are still extremely low when you look at history.
• Loan guidelines have adjusted. This means that while first time home buyers were still able to get homes many move up buyers were not able to as mortgage companies changed the requirements for loans.
• Sellers had not adjusted their prices to reflect the market conditions.

While sales are down the price of residential properties is not down 50%. Certain areas of the city have had pricing pressure but homes are not 50% of what they used to be. We will be covering what else the numbers are telling us in this first week of April.

North Long Beach Real Estate Results for September

The northern part of Long Beach is referred to as North Long Beach. This is an area of town that borders the cities of Compton, Carson, and Lakewood. This area can be easily reached by the 91 or 710 freeways. So what is happening in this area of town? Well let's take a look at the numbers to see. The chart to the left shows the activity level. The largest bar represents the number of active properties and the second largest bar is the number of new listings that have been taken in the area since the first of September and ending at the end of the month.

North Long Beach Real Estate Statistics for September 2007

• New Listings - 96


• Properties in Escrow - 31 ( 28 Pending, 3 Backup)


• Expired Properties - 57


• Total Active Listings at the end of Setpember - 426

Ok so what does this all mean. Well it means that North Long Beach has over 13 months supply of homes. This would mean that the market is Long Beach is a buyers market. There is certainly plenty of properties to choose from. Some properties are in turnkey condition but many are in need of repair. This represents ample opportunity for first time home buyers looking to buy a property that needs some work or investors who are looking to provide quality housing on a flip. Many properties have lots that could allow expansion of properties creating additional value as well.