Long Beach Market Update : Fall 2017
Happy fall, y'all. It's the start of the fourth quarter for you finance or businessy types.
Or for my fashion set, we like to call this sweater weather, because goodness knows we did buy those sweaters at Zara in July right when they got there.
And for the homesteaders... time to plant your fall crops!
And for real estate... we enter into what some may call the slow season. Historically, real estate activity slows a bit in the fall months, and there may be lots of reasons why. Weather may be a factor in some parts of the US, although doubtful that is a consideration here in Southern California. Maybe getting back to school and ramping up for holidays are reasons for a slow down.
While this may be true when looking a 5 year trends,
let's not get too macro-focused and just keep an eye on our local market,
what's happening, right now.
I pulled info from two favorite parts of Long Beach. The El Dorado Park / Los Altos area (90815) and the Belmont Shore area (90803)
This is a one year graph showing the activity of sales prices of homes in these area. See that spike in early 2016, on the left? There was little inventory (houses for sale) and lots of demand (buyers) so we saw the bidding wars start. Homes were selling for well over asking price. It took a skilled negotiator to get a client into a home during this time. Moving toward the right on the graph we see some leveling off. This is good news for everyone. For buyers, it means that the prices aren't being driven upward and they are still able to purchase in their area at the price they're prepared for. For sellers, they won't lose value in their properties during a time of correction.
Equity has still built, so if you are considering selling, find out how much your home is worth. It's a short (and pleasant, if I do say so...) conversation to know the value of your home.
For buyers out there, if you felt discouraged a year ago, jump back in. Let's refine your search and get back on the horse. I'll buy you coffee and we'll re-visit the active listings.
If you would like to learn more about these or any other areas in Southern California, let's set up a time to talk. I have literally oodles of databases to pull from. Seriously, oodles, quantifiably.
Or for my fashion set, we like to call this sweater weather, because goodness knows we did buy those sweaters at Zara in July right when they got there.
And for the homesteaders... time to plant your fall crops!
And for real estate... we enter into what some may call the slow season. Historically, real estate activity slows a bit in the fall months, and there may be lots of reasons why. Weather may be a factor in some parts of the US, although doubtful that is a consideration here in Southern California. Maybe getting back to school and ramping up for holidays are reasons for a slow down.
While this may be true when looking a 5 year trends,
 |
| see those dips just before January? |
let's not get too macro-focused and just keep an eye on our local market,
what's happening, right now.
I pulled info from two favorite parts of Long Beach. The El Dorado Park / Los Altos area (90815) and the Belmont Shore area (90803)
This is a one year graph showing the activity of sales prices of homes in these area. See that spike in early 2016, on the left? There was little inventory (houses for sale) and lots of demand (buyers) so we saw the bidding wars start. Homes were selling for well over asking price. It took a skilled negotiator to get a client into a home during this time. Moving toward the right on the graph we see some leveling off. This is good news for everyone. For buyers, it means that the prices aren't being driven upward and they are still able to purchase in their area at the price they're prepared for. For sellers, they won't lose value in their properties during a time of correction.
Equity has still built, so if you are considering selling, find out how much your home is worth. It's a short (and pleasant, if I do say so...) conversation to know the value of your home.
For buyers out there, if you felt discouraged a year ago, jump back in. Let's refine your search and get back on the horse. I'll buy you coffee and we'll re-visit the active listings.
If you would like to learn more about these or any other areas in Southern California, let's set up a time to talk. I have literally oodles of databases to pull from. Seriously, oodles, quantifiably.
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