"In October, home prices rose moderately from the month before, with a median listing price of $777,500. The number of listings on the market shrank 7.8% from last month, which is a bigger decrease than normal for this time of the year in Long Beach, and homes are also selling slower than at the same time last year. Home prices in Long Beach Typically, home price per square foot in Long Beach tend to fall in October."
"But the most recent data shows that the price per square foot increased by 1.9% compared with the month before. So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 0.8%, which means price changes in the Aquatic Capital of America are outpacing the national market. Long Beach inventory In October, there were 496 homes for sale in Long Beach, which was 7.8% less than the month before and 11.7% more than the same time last year."
Median listing price in Long Beach was $777,500 in October. Inventory on the market decreased 7.8% from the previous month to 496 listings, a larger-than-normal seasonal drop, and represented an 11.7% increase from the same month last year. Price per square foot rose 1.9% month-over-month despite typical October declines. National price per square foot fell 0.8%, so Long Beach outperformed the national per-square-foot trend. Homes in Long Beach averaged 60 days on market in October, four days faster than the prior month but three days slower than the same month last year. National average was 63 days.
Read at SFGATE
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