In October, home prices rose moderately from the month before, with a median listing price of $777,500.<\/p>\n
The number of listings on the market shrank 7.8% from last month, which is a bigger decrease than normal for this time of the year in Long Beach, and homes are also selling slower than at the same time last year.<\/p>\n
Home prices in Long Beach<\/p>\n
Typically, home price per square foot in Long Beach tend to fall in October. But the most recent data shows that the price per square foot increased by 1.9% compared with the month before.<\/p>\n
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.8%, which means price changes in the Aquatic Capital of America are outpacing the national market.<\/p>\n
Long Beach inventory<\/p>\n
In October, there were 496 homes for sale in Long Beach, which was 7.8% less than the month before and 11.7% more than the same time last year.<\/p>\n
Meanwhile, active inventory across the nation remained practically unchanged from last month to 1,100,001.<\/p>\n
Time on market<\/p>\n
Homes in Long Beach take an average of 60 days to sell, according to October figures.<\/p>\n
This is four days less than the previous month and three days more than the same month last year.<\/p>\n
For comparison, nationally homes spent an average of 63 days on the market in October.<\/p>\n