"Active listings rose 4.9% year-over-year to 395 homes, but new listings actually fell 4.9%, bucking the national trend where new supply grew 2.4%."
"The median list price dropped to $719,750 in February, a 4.0% year-over-year decline that outpaced the national dip of 2.1%."
"Homes went under contract in a median of 43 days last month - 12.8% faster than February a year ago, and nearly 40% quicker than the national median of 70 days."
Long Beach's housing market is characterized by a mix of surf culture and diverse neighborhoods. While active listings increased by 4.9%, new listings decreased by the same percentage. The median list price fell to $719,750, a 4.0% decline year-over-year. Homes sold significantly faster than the national average, with a median of 43 days on the market. This situation provides buyers with more negotiating power, while sellers must price homes correctly to attract buyers quickly.
Read at SFGATE
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