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 March 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
$800,971
$607/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Long Beach-Lakewood was $800,971 in March 2024, up 2.1% from last year, and the median price per square foot was $607.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $435K | $440K | +1.1% |
2 Bedrooms | $633.5K | $650K | +2.6% |
3 Bedrooms | $850.2K | $873.8K | +2.8% |
4 Bedrooms | $1.0M | $1.0M | +1.2% |
5+ Bedrooms | $1.2M | $1.2M | -4.8% |
Summary: Long Beach-Lakewood housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes decreased by 4.8%.
Median Sold Price Compared To Nearby Cities
Bellflower | $715.5K | $748.5K | +4.6% |
Lakewood | $800K | $830K | +3.8% |
Long Beach-Lakewood | $784.6K | $800.9K | +2.1% |
Long Beach | $782.5K | $790K | +1.0% |
Signal Hill | $680.5K | $585.5K | -14.0% |
Housing Supply in Long Beach-Lakewood, CA
How many homes are available in Long Beach-Lakewood, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
716 | 738 | +3.1% |
Summary: The Long Beach-Lakewood real estate market had 738 homes for sale in March 2024, a 3.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 99 | 106 | +7.1% |
2 Bedrooms | 217 | 212 | -2.3% |
3 Bedrooms | 270 | 278 | +3.0% |
4 Bedrooms | 82 | 90 | +9.8% |
5+ Bedrooms | 48 | 52 | +8.3% |
Summary: The Long Beach-Lakewood housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.1%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
183 | 209 | +14.2% |
Asking Price vs. Sold Price
64 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
105 Homes Were Sold
Over Asking
Summary: A total of 209 homes were sold or pending in Long Beach-Lakewood in March 2024, up by 14.2% month-over-month. Of the 209 sold homes, 31% were sold under asking, 19% were sold at asking, and 50% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
33 Days | 29 Days | -12.8% |
Summary: Homes in Long Beach-Lakewood had an average of 29 days on market in Mar 2024, down by 12.8% compared to last year.
Breakdown of Home Sale Times
148 Homes Were Sold
Under 30 Days
47 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During March 2024, 209 homes were sold in Long Beach-Lakewood; 71% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.