Introduction to Long Beach
The history of Long Beach, California dates back to the 17th century when the region was occupied by descendants of the Tongva and Chumash people. In 1784, Spanish settlers established the first permanent mission in the area and, over the years, the city grew to become a major trading port for the Los Angeles area. In the late 19th and early 20th centuries, Long Beach experienced a major population boom, with the arrival of the railroad and the discovery of oil on Signal Hill.
Long Beach has always been a diverse, eclectic city with a rich culture. It is a city of immigrants, with vibrant populations of Latinos, Asians and African Americans. The city is also known for its LGBTQ+ community, with a Pride Center located in the heart of downtown. There is a vibrant music and arts scene, with multiple galleries and performance venues. The Aquarium of the Pacific, the Queen Mary and Shoreline Village are just a few of the popular attractions that draw visitors from around the world.
As a major economic force, Long Beach is home to the Port of Long Beach, one of the busiest ports in the country. It is also the aviation and aerospace hub of Southern California, and boasts a diverse range of financial services, health care, hospitality, oil, technology and trade. The city also has its own police department, school district, development services, park system and health department.
Long Beach is a great place to live, with a relaxed atmosphere and friendly people. The cool coastal breezes and warm sunshine make it an ideal place to find a beach home with great value. With strong economic growth and a vibrant culture, Long Beach is a great city to invest in real estate.
What influences housing trends in Long Beach?
1. Population Growth
Population growth has a direct effect on housing trends in Long Beach. With the population increasing, demand for housing also increases. This increased demand causes a surge in prices and a decrease in vacancy rates. As the population ages, the homeowner vacancy rate decreases, while the rental vacancy rate increases. The higher demand for housing also causes an increase in construction to meet the needs of the residents. With more people in the city, the potential for more businesses to open is also greater. This can have a positive effect on the economy and job market of Long Beach. Additionally, with a larger population, the city’s infrastructure is able to be better utilized and improved. As such, the increased population growth in Long Beach brings both economic benefits and higher housing prices to the city.
2. Housing Supply and Demand
In Long Beach, the housing market is influenced by a variety of factors, including the age of homes, type of homes, size of homes, and economic conditions. The age of homes is an important factor, as the proportion of homes and apartments built within a certain time period significantly affects the housing supply and demand. Type of homes is another factor that influences the housing market, as different types of housing such as single-family houses, apartments, and condos have different levels of demand. Furthermore, the size of homes can affect supply and demand, as the number of bedrooms in the home can determine which buyers the property may be attractive to. Finally, economic factors such as consumer optimism, unemployment, and interest rates can also affect housing supply and demand. For example, if consumer optimism is high and unemployment is low, buyers may be more willing to invest in homes, while if unemployment rises and prices remain high, buyers may be less likely to want to purchase a home.
3. Construction Costs
The construction costs of housing in Long Beach have a huge influence on the housing trends in the area. High construction costs have driven housing prices up significantly in the past few years, with the median list price now reaching almost 11 times the average household’s income. This has made it difficult for most Long Beach households to buy a home, and consequently, fewer homes have been sold in recent years. The current shortage of affordable homes has also caused an influx of people from other, more expensive cities, who are able to purchase and invest in housing in Long Beach. This has led to certain areas, such as the Cliff May rancho-style Mid-Century Modern homes in East Long Beach, to become popular and demand high prices. Despite predictions of a slight dip in housing prices due to increasing interest rates, it appears that the cost of construction in Long Beach will continue to influence the housing trends in the area for the foreseeable future.
4. Mortgage Rates
Mortgage rates have had a major impact on the housing trends in Long Beach. As interest rates have nearly doubled over the past year, the affordability of home purchases has decreased significantly, resulting in a decline in sales volume and home prices. The current average rate for the benchmark 30-year fixed mortgage is 7.32%, and increases are expected to continue into 2023, further decreasing the affordability of home purchases. This has caused an overall decrease in demand as many potential buyers are comfortable with their existing low-interest rate mortgages. Homebuyers with pre-approvals are also facing a less affordable situation, as they are unable to find the same amount of inventory as before. This has had an overall impact on the market, with some lenders going out of business due to the dramatic increase in interest rates.
5. Property Values
Property values have a significant impact on housing trends in Long Beach, California. As home values appreciate, demand for housing increases as more people are able to afford to purchase homes. This leads to higher prices and competition among buyers. On the other hand, when home values decline, demand for housing decreases, resulting in lower prices and fewer housing transactions. As home values fluctuate, this can cause different trends in the Long Beach real estate market. For example, when home values appreciate, there is a trend of increasing prices, homes selling quicker, and more housing transactions. Conversely, when home values decline, there is a trend of decreasing prices, homes taking longer to sell, and fewer housing transactions. Therefore, understanding the current property values in Long Beach can help potential buyers and sellers make the best decision for their real estate needs.
6. Local Economy
The housing market in Long Beach has been heavily influenced by the economic climate of the area. As the economy has grown, so has the demand for housing. This has led to an increase in construction, which has helped to alleviate some of the demand from renters. However, due to increasing demand and geographical limits on building, the new supply of housing has not been enough to bring down prices.
The current economic conditions in Long Beach have also played a role in influencing housing trends. The unemployment rate in Los Angeles County has been on the rise since the onset of the pandemic, which has limited the amount of money available to potential homebuyers. In addition, the diversified economy of Long Beach means that if one sector takes a hit, the effects can be mitigated by other sectors. This makes real estate investments less vulnerable to declines in any one sector.
Ultimately, the housing market in Long Beach is heavily influenced by the local economy. Factors such as population growth, employment, income, and demand all contribute to the overall health of the market. Furthermore, the geography of the area, as well as its economic diversity, also help to influence housing trends in the area.
7. School Quality Indicators
School quality indicators can have a significant impact on housing trends in Long Beach. The city is home to 108 public schools rated good or higher by GreatSchools, in addition to 55 private and charter schools. Homebuyers often consider the ratings of local schools when looking for a new home, and the higher-rated schools tend to have higher home values. For example, Zillow’s Home Value Index for Long Beach shows an increasing trend over the past five years, reaching an all-time high of $875K in December 2022. Higher-rated schools also tend to have fewer days to pending, with the median being 21 days. This indicates that homes near higher-rated schools often sell more quickly, making them highly sought after. Therefore, school quality indicators can have a significant impact on housing trends in Long Beach.
8. Natural Disasters
Natural disasters can have a significant impact on housing trends in Long Beach. Floods, storms, fires, droughts, and heat risks are all potential threats to homes in this area. Flood risk is increasing faster than the national average, with about 32 % of homes in Long Beach currently at risk and up to 36 % at risk by 2050. Drought risk is projected to increase to 67 % in the same time period, and the risk of wildfires is expected to rise to 372 sq. miles burned in a year. Heat risk is also increasing, with the number of hot days per year projected to double by 2050. These natural disasters can lead to property damage, higher insurance premiums, and ultimately, a decrease in housing demand in the area.
9. Crime Rates
The crime rate in Long Beach affects the housing market in a number of ways. A high crime rate can lead to more people being reluctant to move into an area, leading to a decrease in demand for housing. This can cause home prices to drop as fewer people are willing to buy. On the other hand, an area with a low crime rate is more desirable, leading to an increase in demand for housing, resulting in higher home prices. Additionally, the presence of crime can drastically affect the quality of life in an area, making it less attractive to prospective home buyers.
10. Neighborhood Amenities and Characteristics
Long Beach is home to a variety of neighborhoods that offer a range of amenities and characteristics. Depending on where you choose to live, you can take advantage of different features such as age of homes, type of homes, size of homes, walkability, bikeability, transit-friendliness, affordability, and popularity.
The age of homes in Long Beach vary from neighborhood to neighborhood, with some areas containing mostly newer homes while other areas have older homes. The type of housing available in Long Beach includes single family homes, apartments, and condominiums. The size of homes also varies between neighborhoods, with the predominate size of homes in the city being based on the number of bedrooms.
When it comes to walkability, bikeability, and transit-friendliness, there are 10 neighborhoods in Long Beach that are top-ranked for each category. The most affordable homes in Long Beach can be found in the 10 most affordable neighborhoods, while the 10 most expensive neighborhoods are home to the most expensive homes in the city. Finally, the 10 most popular neighborhoods contain some of the most sought-after homes in Long Beach.
Overall, Long Beach has something for everyone, whether it be newly built or vintage homes, or amenities such as walkability, bikeability, or transit-friendliness.
Types of housing in Long Beach
1. Single-family homes
The types of single-family homes in Long Beach include detached homes, townhouses, duplexes, rowhouses, and homes converted to apartments. Detached homes are homes that are built on their own lot, with no surrounding buildings. Townhouses are multi-level units that share common walls. Duplexes are homes that are divided into two separate units, with the units sharing a common wall. Rowhouses are units that are connected in a line and share side walls. Finally, homes that have been converted to apartments are single-family homes that have been modified to contain multiple units.
Long Beach condos offer a variety of features to accommodate different lifestyles. On average, condos cost less than single-family homes and offer a variety of price ranges, from $229k to $2.2m. They also provide different levels of amenities, from basic to luxury, suiting any budget. In terms of size, condos are usually smaller than single-family homes and their price per square foot is on average $571, ranging from $314 to $1,042.
The median list price of condos in Long Beach is $549.63k, while the median sale price is $460.01k, which is an 8.11% increase in comparison to the sale prices in the last 12 months. The sale price per square foot is on average $533, ranging from $607 to $533. In terms of price drops, an average of 30 condos per month have their prices lowered, with a range of 3 to 40 homes.
When it comes to days on market, condos usually stay for 32 days on average, with a range of 9 to 26 days. This is a 111.11% increase in comparison to the last 12 months. On average, for every 135 single family homes sold, 72 condos are sold, which is a 22.58% decrease in comparison to the last 12 months. The sale to list percent for condos is 1.60% on average, which is a 2% decrease in comparison to the last 12 months.
The predominant types of townhomes in Long Beach are two-car garages with big lots, rental properties, updated kitchens, corner lots, open floor plans, waterfronts, modern kitchens, ocean views, big yards, solar systems, swimming pools, libraries, granite kitchens, efficient appliances, vaulted ceilings, farms, tennis courts, lake views, and gourmet kitchens. These townhomes make up 4.3% of the total housing market in Long Beach.
The types of apartments in Long Beach include single-family homes, duplexes, rowhouses, and homes converted to apartments. Single-family homes account for about 40% of Long Beach’s housing units and are typically located on their own lots. Duplexes are two-unit dwellings that are usually located on the same lot. Rowhouses are three or more units built together in a row, often with a shared wall. Homes converted to apartments are typically single-family homes that are converted into several smaller living spaces. Finally, large apartment complexes are multi-story buildings that often have amenities like gyms, pools, and other common areas.
5. Mobile homes
A mobile home in Long Beach is a type of housing unit that is usually built on a wheeled frame and is designed to be relocated as necessary. Mobile homes are typically smaller than traditional single-family homes and are often used as a temporary or seasonal residence. According to the data above, mobile homes make up approximately 13.0% of the total housing in Long Beach.
6. Rental properties
Long Beach, California is a great place to invest in rental properties. There are a variety of different types of rental properties available in Long Beach, including single-family homes, condos, apartments, and multi-family homes.
Single-family homes are detached properties with just one dwelling unit. These homes often have access to backyard space, making them popular with families and those looking for more privacy.
Condos are attached properties that typically come with shared amenities like a pool, fitness center, and more. They are usually located in more densely populated areas, making them ideal for those looking for more convenience.
Apartments come in all sizes and can range from studio apartments to large multi-room units. They are often located in residential neighborhoods, making them perfect for those who want to remain close to local amenities.
Multi-family homes are larger properties with more than one dwelling unit, making them popular with larger families or those looking to rent out multiple units. They often have more space, making them great for those looking for a larger home.
7. Vacant land
A vacant lot in Long Beach is an empty area of land that has no buildings or structures on it. It can come in various sizes and is often found within urban or suburban locations. Vacant lots are becoming increasingly popular among developers and home buyers due to their potential for growth. Vacant lots offer the opportunity to build custom houses on the properties, provide an affordable housing option, and move away from cookie-cutter solutions. Vacant lots also provide a great opportunity to optimize the land use. Developers can use the space to build multi-story buildings, create more open green space, or potentially combine smaller lots into larger parcels. For home buyers, vacant lots present an opportunity to save money on purchasing land and then build a home to their specifications. Developers and home buyers alike are turning to vacant lots in Long Beach as a great option for building a home or starting a development project.
8. Multi-family homes
Single-family Homes: These are traditional, single-story homes built on a lot with its own yard. Single-family homes account for about 40% of Los Angeles’ housing units.
Townhomes: Townhomes are attached units, typically in rows of at least three. Townhomes are a popular choice for those who want the convenience of low-maintenance living.
Small Apartment Buildings: Small apartment buildings are typically 3-4 stories high and hold 6-10 units each. These buildings are popular with renters who may not be able to afford a larger building.
Apartment Complexes: Apartment complexes are large buildings with multiple stories and many units. Apartment complexes are often considered to be more luxurious than smaller buildings and offer amenities such as pools and gyms.
Mobile Homes: Mobile homes are prefabricated dwellings set on wheels. This type of housing is often more affordable than traditional home ownership and can be easily moved.
Other: Other types of housing include duplexes, rowhouses, and homes converted to apartments.
The types of rentals available in Long Beach are:
1. Apartments for Rent: Apartments for rent in Long Beach typically range from one bedroom to three bedrooms, with prices varying by size of the apartment and its location.
2. Houses for Rent: Houses for rent in Long Beach are also available in various sizes, from single-family homes to multi-family dwellings. Prices will depend on the size and location of the house.
3. Military Rental Properties: Military rental properties are available in Long Beach due to the presence of the Los Angeles Airport Base, Edwards Air Force Base, and other military facilities in the area.
4. Luxury Properties: Luxury properties are a popular option in Long Beach due to the influx of high-income renters. These properties feature amenities such as concierge services and high-end finishes.
10. Mixed-use properties
Mixed-use properties in Long Beach can be found in many different areas. Downtown Long Beach is home to a variety of mixed-use properties, such as the newly developed Shoreline Gateway development. This mixed-use property features luxury apartments, retail space, office space, and a new hotel. Other mixed-use properties in Downtown Long Beach include the Pine Avenue Redevelopment, which includes a variety of retail stores, restaurants, and residential units.
In other areas of the city, there are many mixed-use properties, such as the Marina Pacifica shopping center. This property includes a variety of retail stores, restaurants, and residential units, as well as marina access. The Long Beach Towne Center is another example of a mixed-use property, with a variety of retail stores, restaurants, and residential units.
Finally, a number of smaller mixed-use properties can be found in neighborhoods throughout the city, such as the Artesia Business District. This district includes a variety of retail stores, restaurants, and residential units, as well as a variety of other businesses. These smaller mixed-use properties offer a unique blend of services and residential units that are often more affordable than larger mixed-use developments.
How to find the right home in Long Beach based on your needs
Step 1: Research housing trends for your desired area
Researching housing trends can be incredibly helpful in finding the right home in Long Beach. Knowing the age of homes in the area, the type of housing available, the size of homes, and any overall market trends can help a potential homebuyer make an informed decision. By looking at market forecasts, buyers can get an idea of the overall housing trend in an area, as well as any potential price fluctuations that may arise in the near future. Additionally, analyzing the data from sources such as the U.S. Census Bureau, Department of Housing and Urban Development, Federal Housing Finance Agency, and Walletinvestor.com can give buyers a better understanding of the local housing market and any potential opportunities that may arise. Ultimately, researching housing trends can provide valuable insight when looking for the right home in Long Beach.
Step 2: Check current and forecasted median home prices
Step 1: Visit the Walletinvestor website.
Step 2: Search for “Long Beach” in the search bar.
Step 3: Click on the “Home Price” tab for more detailed information about the median home listing price in the area.
Step 4: Scroll down to view historical median home listing prices for the last 5 years.
Step 5: Scroll down further to view the current and forecasted median home listing prices for Long Beach.
Step 6: Additionally, you can view the average home values on the chart provided, which displays the median listing home price and median sold home price for the past few years.
Step 3: Check if there are any restrictions on home ownership
Owning a home in Long Beach, California comes with a few restrictions. The city requires that all homes be built in compliance with a set of zoning laws and regulations that dictate what type of homes can be built and the size of the homes. Additionally, Long Beach has rent control measures in place that cover most multi-family rental units built before 15 years ago. Therefore, any potential rental property owner should be aware of the rent control rules before investing.
When compared to Los Angeles, Long Beach has similar restrictions on rent control and zoning laws. However, Los Angeles has an additional stipulation that single-family detached homes are rarely subject to rent control ordinances. Therefore, it is critical that Long Beach rental property owners and home buyers understand the local laws and regulations in order to make an informed decision.
Step 4: Research the amenities available in the neighborhood
The neighborhood of Long Beach homes offers a variety of amenities. Homeowners can take advantage of average market rent, a homeownership rate, and housing market details such as age of homes, type of homes, and size of homes. The median ZHVI for some of the neighborhoods in Long Beach include Hellman ($522,363), Rose Park ($803,644), Carroll Park ($790,702), Zaferia ($521,458), Alamitos Beach ($541,773), BluffHeights ($772,834), Saint Mary’s ($635,387), East Village ($447,133), and Bluff Park ($841,583). Potential home buyers and sellers can take advantage of the real estate experts at West BLVD Realty to help guide them through the home selling and buying process.
Step 5: Read reviews from previous homeowners
Reading reviews from previous homeowners can help you find the right home in Long Beach by providing valuable insight into the current market conditions, potential competition, and real estate trends. Knowing the level of competition in the area, for example, can be invaluable, as it will indicate whether you should act quickly or take your time in making an offer. Reviews can also provide a better understanding of the local housing market, such as average home listing prices and recently sold homes, allowing you to make more informed decisions. Knowing the current economic and interest rate climate can also help you make the right decision, as it will give you a better idea of what to expect in terms of selling and buying a home. By reading these reviews, you can make sure that you’re making the right decision for your home purchase in Long Beach.
Step 6: Search online for property listings and view photos of available properties
Step 1: Visit the website www.PropertyShark.com to search for property listings in Long Beach.
Step 2: Use the search filter to narrow down your results by area, property type, price range, and more.
Step 3: Once you’ve made your selections, click the “Search” button to view the available properties.
Step 4: Scroll down to view all the properties that match your criteria.
Step 5: Once you’ve found the property that you’re interested in, click on it to view the full listing, including photos.
Step 7: Talk to realtors to get their opinion on each property
Asking realtors for their opinion on a property in Long Beach can help you make an informed decision when considering a real estate purchase. Here are the steps you should take to gather their insights:
1. Make a list of the properties you are interested in.
2. Contact local real estate agents and ask them for their opinion on each of the properties.
3. Ask them questions about the properties to get a better understanding such as:
– What is the current market for that property?
– What is the estimated rental yield?
– What are the current trends in the area?
– Are there any future development plans for the area?
4. Once you have gathered enough information, make an informed decision about which property is the best investment for you.
Step 8: Consider your budget and search for homes that fit your budget range
Searching for homes in Long Beach that fit your budget range can be done in several simple steps.
First, you should call West BLVD Realty at (562) 537-5924 to set up an appointment with a lender and discuss your budget. You can also download their free buyer’s guide HERE for helpful tips.
Once you have a budget in mind, you can use our free service to analyze millions of home sales and find the perfect agent for you. To get started with this process, click HERE.
Next, you can search for homes that fit your budget range by using our interactive map. Start by going to the map and using the arrow keys to navigate. You can also use the zoom functions to get a better look at the area. The map will provide you with data about home types and price ranges so you can get an idea of what homes are available.
Finally, you can narrow down your search by home type, beds, and price range. All of this data will be available on the map and you can use the “Jump” functions to quickly move around the map.
By following these steps, you’ll be able to quickly and easily find homes in Long Beach that fit your budget range.
Step 9: Ask questions during the home inspection if necessary
What questions should be asked during a home inspection in Long Beach? [Expanded list]
1. What is the condition of the roof and foundation?
2. Are there any signs of water damage?
3. What type of insulation is used in the walls and attic?
4. How old is the heating and cooling system?
5. Are there any signs of pests or infestations?
6. Are there any signs of electrical problems?
7. Are there any signs of plumbing issues?
8. Are there any safety issues, such as fire hazards or carbon monoxide alarms?
9. Is there any environmental contamination on the property?
10. Are there any structural issues with the walls or ceilings?
11. Are there any necessary repairs to be made before the sale?
12. Are there any building code violations?
13. Are there any local zoning or ordinance issues to be aware of?
14. Are there any HOA or covenants that will affect the sale?
Step 10: Enjoy your new home after you find the right one!
1. Start by exploring the different neighborhoods in Long Beach and find a home that perfectly fits your needs. Make sure to take the time to research the top-ranked neighborhoods and homes in Long beach, as well as the 10 most walkable, bikeable, transit-friendly, affordable, expensive, and popular homes in the city to ensure you find the right fit.
2. Once you’ve found the right home, it’s time to make an offer. With current market conditions, it’s important to consider any potential risks, rising interest rates, and inflation when making an offer. You should also plan ahead and make sure you can secure the right financing and potentially waive inspections if needed.
3. After you’ve secured the home, it’s time to start enjoying it! Get to know your new neighborhood by taking walks, bike rides, and exploring the local transit system. Start decorating your new home to your taste and make sure to take in all the features that make it special.
4. Invite family and friends over to your new home for a housewarming party and spend some time getting to know the local area. From outdoor activities, to restaurants and attractions, Long Beach has something for everyone.
5. Enjoy your new home and take advantage of all the wonderful things Long Beach has to offer.
What is the current market rent in Long Beach, California?
Recent market analysis of Long Beach, California reveals that the current median listing home price is $737.5K and the median listing home price per square foot is $600. Additionally, the median home sold price is $724.5K. Although properties in Long Beach are still subject to AB 1482 – California’s Statewide Rent Control, rentals range from $150 to $15K per month. The market for both rentals and purchases offers a great opportunity for investors and primary home buyers.
How is the housing market in Long Beach, California affected by the pandemic?
The coronavirus pandemic has had a significant effect on the housing market in Long Beach, California. Before the pandemic, the city was experiencing a steadily rising trend in home prices, with a 22.50% increase from 2021 to 2022. However, the pandemic has caused some disruption in the market, with some neighborhoods reporting a decrease of 1 to 2% in home prices.
The biggest challenge to the housing market in Long Beach is the end of stimulus payments to homeowners and renters, as well as the potential for an increase in foreclosures when the eviction moratorium ends. As a result, many people are holding off on buying or selling homes, leading to a decrease in listings and a decrease in available homes.
Despite this, current trends suggest that house prices will continue to rise in Long Beach during 2022. Interest rates are low, and home buyers can get pre-approved for loans. Currently, it is still a good time to buy a house in Long Beach, but the market conditions are subject to change, so it is important to keep an eye on current trends and be prepared to act quickly in multiple offer situations.
What is the home appreciation rate in Long Beach, California?
The home appreciation rate in Long Beach, California is 9.43%, which is an average annual home appreciation rate over the last ten years. In the last twelve months, Long Beach’s appreciation rate was 15.33%, which annualizes to a rate of 17.71%. This rate is higher than 60% of the other cities and towns in California.
What is the forecast for rental rates and housing inventory in Long Beach, California?
The forecast for rental rates and housing inventory in Long Beach, California are trending downward in the near future according to current data. The median rental rate has decreased mostly due to an oversupply of housing in Long Beach, California. It is expected that this trend will continue in the coming months, leading to a decrease in rental rates. Additionally, the housing inventory in Long Beach, California is decreasing due to a decrease in housing demand. This trend is also expected to continue in the coming months, leading to a decrease in housing inventory.
What are the current real estate listings in Long Beach, California?
If you’re looking for real estate listings in Long Beach, California you’re in luck; there are currently 559 homes for sale in the city. Of these, 48 were newly listed within the last week, giving you plenty of options. Additionally, there are 825 rental properties available ranging from $150 to $15K per month. Open houses, price reductions, foreclosures, recently sold homes, new home communities, and new home construction are all available in Long Beach.
Are there any special considerations when buying or selling a house in Long Beach, California?
When buying or selling a house in Long Beach, California, there are a few special considerations to keep in mind. Firstly, the city is a seller’s market, meaning there are more people looking to buy than there are homes available. Therefore, it is important to act quickly when you find a home you like in order to secure it. Additionally, home prices in Long Beach currently average to the asking price, so buyers should be prepared to make a competitive offer.
Aside from the market conditions, Long Beach is a great entry point into the California real estate market, with an array of property investment options and relative affordability compared to other beach cities. It is also home to many amenities, such as museums, gardens, a convention center, an airport, and a university. Finally, when deciding to buy or sell, it is wise to take into account the local housing market data to determine the best and worst months to do so.
What is the likelihood of a flood in Long Beach, California?
The likelihood of a flood in Long Beach, California is high, with approximately 32,958 homes (32%) currently at risk and an estimated 36,479 homes (35%) at risk in the next 30 years. According to Risk Factor™, a product of the nonprofit First Street Foundation, the flood risk in Long Beach is increasing faster than the national average.
What is the average house value in Long Beach, California?
The average house value in Long Beach, California is around $725,000 in December 2022. The median listing home price was $737.5K and the median home sold price was $724.5K. The median listing home price per square foot was $600. There are currently 559 homes for sale, with a median sale price of $725K and an average sale price per square foot of $573.
What are the school data and neighborhood statistics for Long Beach, California?
Long Beach, California is a city that consists of 64 neighborhoods and is home to 108 public schools rated good and higher by GreatSchools. There are 559 homes for sale, ranging from $69K to $5.5M, with a median listing home price of $737.5K and a median listing home price/sq ft of $600. The median sold home price is $724.5K. The top 5 public schools in Long Beach, CA are Richard Henry Lee Elementary School, Gant Elementary School, Naples Elementary School, Kettering Elementary School, and Newcomb Academy. There are also 55 private and charter schools in the area. The best neighborhoods in or around Long Beach, CA are Downtown Long Beach, Bixby Park, and SEADIP.
What are the most up-to-date housing market statistics for Long Beach, California?
The most up-to-date housing market statistics for Long Beach, California are that the median listing home price in December 2022 was $737.5K, trending down -1.6% year-over-year. The median home sold price was $724.5K. There were 514 homes for sale in Long Beach and the median list price in this real estate market was $783,136. Prices of 1 bedroom properties increased by 8.1%, 2 bedrooms properties prices increased by 7.8%, 3 bedrooms properties prices increased by 7.4%, 4 bedrooms properties became 7.3% more expensive, and 5 bedrooms properties became 0.8% more expensive between November 2022 and December 2022. The list price-to-sales ratio has declined, leaving buyers with more room to bargain.
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