Is Long Beach-Lakewood, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Long Beach-Lakewood has remained a Seller's Market.
Housing Prices in Long Beach-Lakewood, CA
How much do homes in Long Beach-Lakewood, CA cost?
Median Sold Price
$819,956
$622/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Long Beach-Lakewood was $819,956 in June 2024, up 6.5% from last year, and the median price per square foot was $622.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $429K | $439.8K | +2.5% |
2 Bedrooms | $625K | $669.3K | +7.1% |
3 Bedrooms | $839.4K | $884K | +5.3% |
4 Bedrooms | $990K | $1.0M | +7.1% |
5+ Bedrooms | $1.2M | $1.2M | +1.9% |
Summary: Long Beach-Lakewood housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 1.9%.
Median Sold Price Compared To Nearby Cities
Bellflower | $700K | $750K | +7.1% |
Lakewood | $788.1K | $840K | +6.6% |
Long Beach-Lakewood | $770K | $819.9K | +6.5% |
Long Beach | $765K | $811K | +6.0% |
Signal Hill | $644K | $610K | -5.3% |
Housing Supply in Long Beach-Lakewood, CA
How many homes are available in Long Beach-Lakewood, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
969 | 987 | +1.9% |
Summary: The Long Beach-Lakewood real estate market had 987 homes for sale in June 2024, a 1.9% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 115 | 137 | +19.1% |
2 Bedrooms | 310 | 309 | -0.3% |
3 Bedrooms | 359 | 356 | -0.8% |
4 Bedrooms | 127 | 120 | -5.5% |
5+ Bedrooms | 58 | 65 | +12.1% |
Summary: The Long Beach-Lakewood housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 19.1%, 2 bedroom homes decreased by 0.3%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes increased by 12.1%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
250 | 238 | -4.8% |
Asking Price vs. Sold Price
60 Homes Were Sold
Under Asking
45 Homes Were Sold
At Asking
133 Homes Were Sold
Over Asking
Summary: A total of 238 homes were sold or pending in Long Beach-Lakewood in June 2024, down by 4.8% month-over-month. Of the 238 sold homes, 25% were sold under asking, 19% were sold at asking, and 56% were sold over asking.
Days on Market for Long Beach-Lakewood, CA
How long does it take to sell a home in Long Beach-Lakewood, CA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
24 Days | 21 Days | -12.9% |
Summary: Homes in Long Beach-Lakewood had an average of 21 days on market in Jun 2024, down by 12.9% compared to last year.
Breakdown of Home Sale Times
184 Homes Were Sold
Under 30 Days
45 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During June 2024, 238 homes were sold in Long Beach-Lakewood; 77% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.