Pango Group

Long Beach, CA 90803

Single-Family Homes

www.pangogroup.com



Long Beach, CA 90803

Wed May 22 2024
This week the median list price for Long Beach, CA 90803 is $2,349,000 with the market action index hovering around 40. This is less than last month's market action index of 45. Inventory has increased to 48. Click here to stay informed with the Long Beach market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.

Long Beach, CA 90803

Wed May 22 2024
This week the median list price for Long Beach, CA 90803 is $2,349,000 with the market action index hovering around 40. This is less than last month's market action index of 45. Inventory has increased to 48. Click here to stay informed with the Long Beach market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.

Real-Time Market Profile

Never miss important changes in the Long Beach market.
Median List Price $2,349,000
Median Price of New Listings $1,900,000
Per Square Foot $1,039
Average Days on Market 68
Median Days on Market 25
Price Decreased 21%
Price Increased 0%
Relisted 2%
Inventory 48
Median Rent
Market Action 40
Slight Seller's Advantage

Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$4,687,500 3,227 0 - 4,500 sqft 4 4 27 1 0 119
$2,749,500 2,734 0 - 4,500 sqft 4 3.5 71 2 0 24
$1,995,000 2,286 0 - 4,500 sqft 3 3 47 4 0 17
$1,467,500 1,457 0 - 4,500 sqft 2 2 97 4 3 14