"In November, home prices fell substantially from the month before, with a median listing price of $749,000. The number of listings on the market shrank 4.3% 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 November. And the most recent data shows that the price per square foot decreased by 0.9% compared with the month before. So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the Aquatic Capital of America are smaller the national market."
Median listing price in Long Beach was $749,000 in November, reflecting a substantial month-over-month decline. Price per square foot fell 0.9% from the prior month, a smaller decline than the national 1.2% decrease. There were 475 homes for sale, down 4.3% from October and up 8.4% year-over-year. The 4.3% monthly drop in listings was larger than normal for Long Beach's seasonal pattern. Active inventory nationwide was 1,072,266, down 2.5% from the prior month. Homes in Long Beach spent an average of 59 days on the market, one day faster than October but four days slower than November last year, compared with a national average of 64 days.
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