Real Estate Investment in Long Beach California By Kate Nash
According to the most recent data from Redfin, Long Beach home prices were up 20.8% compared to the year 2021 selling for a median price of $798K. It is a market dominated by sellers as homes were staying on the market for an average of 37 days. This is an improvement from last year’s 40 days on the market.
T
he inventory available for sale in Long Beach according to Redfin was down to 220 from 277 recorded last year.
Just to summarize; zz The Long Beach housing market is a competitive market. zz Many of the homes listed got multiple offers. zz On average, homes sell for about 2% above the list price and will go pending for an average of 32 days.
Francisco or Los Angeles. In terms of the worker profile, Long Beach is neither a blue-collar nor a white-collar city, but instead, a mix of both workforces. Overall, we can classify long beach as a city of professionals, sales and office workers, and service providers. In fact, there are a lot of people living in this city who work in office and administrative positions accounting for about 11.77%, sales jobs account
zz The hot homes will sell at about 6% above the list price and will go pending for about 14 days. SO AS AN INVESTOR, YOU MAY BE WONDERING, IS LONG BEACH A GOOD PLACE TO INVEST? Long Beach is a large coastal city with a population of 466,742 people and 111 constituent neighborhoods. Some estimates put Long Beach as the 7th largest community in California.
123rf.com
When it comes to housing costs, Long Beach ranks among the most expensive cities in the country, but prices in Long Beach can’t compare to the real estate prices in some of the most expensive communities in California like San MARCH 2022 | 67
