"In December, Long Beach experienced a notable increase in active listings, reaching a total of 407 active listings, up 8.2% from the previous year. This rise in inventory not only matched but intrigued beyond the national average increase of 12.1%. Although the number of newly listed homes in Long Beach was 122, marking a significant year-over-year decrease of 12.9%, it provided a unique opportunity for buyers to explore a wider array of established homes."
"The median listing price in Long Beach was $741,000 in December, showing a slight year-over-year decline of 0.8%. This decrease stood in contrast to the national trend, where median listing prices also fell, albeit at a lower rate of 0.6%. The share of price reductions in Long Beach rose by 1.4 percentage points to 10.8%, signaling an advantageous environment for buyers eager to capitalize on more flexible pricing."
"Homes in Long Beach spent a median of 69 days on the market in December, an increase of 11.3% from the previous year. This figure was slightly below the national median of 73 days, which saw a smaller increase of 5.0% year-over-year. The extended time on market offered buyers additional negotiating power and the opportunity to find the perfect home without the rush."
Long Beach experienced notable real estate shifts in December. Active listings reached 407, an 8.2% increase year-over-year, while newly listed homes fell to 122, a 12.9% decrease. The median listing price was $741,000, down 0.8% year-over-year, and price reductions rose 1.4 percentage points to 10.8%. Homes spent a median of 69 days on market, up 11.3% year-over-year and slightly below the national median of 73 days. The combination of expanded inventory, more frequent price cuts, and longer market time increased negotiating leverage for buyers and intensified competition for sellers.
Read at SFGATE
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