In November, home prices fell substantially from the month before, with a median listing price of $749,000.<\/p>\n
The number of listings on the market shrank 4.3% 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 November. And the most recent data shows that the price per square foot decreased by 0.9% 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 1.2%, which means price changes in the Aquatic Capital of America are smaller the national market.<\/p>\n
Long Beach inventory<\/p>\n
In November, there were 475 homes for sale in Long Beach, which was 4.3% less than the month before and 8.4% more than the same time last year.<\/p>\n
Meanwhile, active inventory across the nation fell by 2.5% from last month to 1,072,266.<\/p>\n
Time on market<\/p>\n
Homes in Long Beach take an average of 59 days to sell, according to November figures.<\/p>\n
This is one day less than the previous month and four days more than the same month last year.<\/p>\n
For comparison, nationally homes spent an average of 64 days on the market in November.<\/p>\n