Long Beach CA Real Estate Market – Belmont Heights and Alamitos Heights November 2011
The Belmont Heights/ Alamitos Heights area of Long Beach offers some unique amenities of oceanside living. The proximity to the beach adds to the attraction as does the easy access to the delightful 2nd street restaurant area. Homes available range from the moderate to the mansions. While condominiums range from the studio to the luxurious.
The Belmont Heights/Alamitos Heights Single Family Market
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In January 2012, the Belmont heights single family home market shows an increase in listings and a reduction in sales. This is consistent with the normal slowing of the real estate market in the winter months. An inventory of four months is consistent with a balanced market with neither sellers nor buyers having a significant advantage. However the inventory is expected to decrease in the spring months continuing the trend towards a sellers market.
SINGLE FAMILY REAL ESTATE MARKET OF BELMONT HEIGHTS/ALAMITOS HEIGHTS LONG BEACH
|
LISTINGS
|
November 2011
|
December 2011
|
January 2012
|
| Number of Homes on The Market |
34
|
31
|
38
|
| Average Listing Price |
$957,000
|
$1,023,000
|
$1,023,000
|
| Listing Price Range |
$324,000 – $4.940,000
|
$299,000 – $4.950,000
|
$973,000,$4.550,000
|
|
SOLD PROPERTIES
|
|||
| Number of homes sold |
9
|
17
|
10
|
| Average Selling Price |
630,000
|
$702,000
|
$577,000
|
| SP/LP |
100%
|
92%
|
95%
|
| Selling Price Range |
$439,000-$785,000
|
$192,000 – $1,350,000
|
$295,000 – $1,275,000
|
| Days on Market of Sold Homes |
70
|
79
|
225
|
| Months of Inventory |
3.75
|
2 Months
|
4. Months
|
The Condominium Real Estate Market of Long Beach
The condominium real estate market of Belmont Heights area of Long Beach, again, shows an increase the number of units on the market The inventory remains at 4 months. Many sales were in the lower end of the market. At 85% selling price to listing price there was significant room for negotiation.. Most homes were on the market for three months. The inventory of 4 months suggests a market that is moving from a buyers market to a more balanced one. Buyers would be adviced to buy now.
The Condominium Real Estate Market of Belmont Heights and Alamitors HeightsLong Beach
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| LISTINGS |
November 2011
|
December 2011
|
January 2012
|
| Number of Condos on The Market |
41
|
31
|
38
|
| Average Listing Price |
$270,000
|
$292,000
|
$351,000
|
| Listing Price Range |
$70,000 – $600,000
|
$87,000 – $1,200,000
|
$150,000 – $990,000
|
| SOLD PROPERTIES | |||
| Number of Homes Sold |
8 |
8
|
10
|
| Average Selling Price |
$300,000
|
$246,000
|
$197,000
|
| Selling Price RaAnge |
$157,000-$510,000
|
$116,000 – $531,000
|
97,000 – $531,000
|
| SP/LP |
95%
|
85%
|
83%
|
| Days on Market of Sold Homes |
122
|
118
|
115
|
| Inventory |
5Months
|
4 Months
|
4 Months
|
In conclusion the real estate market Belmont Heights/Alamitos Heights areas of Long Beach shows significant activity with a very strong increase in sales. The days on the market of sold properties is very very low. The buyers market may be coming to an end.
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Long Beach Real Estate Experts
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