90802

Long Beach Real Estate Market 90802

December 15, 2008 by Jay Valento · 3 Comments 

Long Beach Real Estate Trends of Single Family Homes for November 2008 in 90802 Downtown Area

There are 22 single family homes on the market in 90802 zip code of Long
Beach, California.  The lowest priced home is $125,000 for a two bedroom, 1
bath home…wow….and the highest priced, pull out your check book, home is
$3,495,000.  What do you get for 3.4 Million?  You get 50 feet of
beach frontage with 180 degree ocean view…wake up in the morning to view
Catalina to the entire coastline of Long Beach.  This three bedroom, four
bathroom home has 3,100 square feet built in 2008.  It is a tri-level home
with upgrades for fit for a king…take a look at this
luxury
Long Beach home.

Accepting Backup Offers or Not, What is the Gig?

When an offer comes in from a buyer, depending on the offer, your listing
agent may suggest that you accept backup offers just in case the current buyer
does not continue with the purchase.  How can you tell?  I think it
depends on the offer that the buyer wrote with his/her agent.  If it
appears weak in terms of not having a large enough deposit or down payment, it
doesn’t hurt the seller to accept backup offers.

Now, those backup offers do not automatically knock out the buyer who the
seller has accepted an offer with…they are just in case type of offers.

Currently, there are 3 home owners of single family homes in 90802 accepting
backup offers.  4 additional properties are in escrow with the status as
pending sale.

So, what sold in the month of November 2008 in 90802 for single family homes? 

Closed Sales in November 2008
# of single family house sales: 4
Avg. Listed Price: $277,875
Avg. Square Feet: 973
Avg. $/Square Foot: $280
Avg. Days of Market: 31

On average, these listings sold for 12.88% less than asking price.

View homes for sale
in Long Beach



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Long Beach Condos Sales Report November 2008

December 15, 2008 by Jay Valento · Leave a Comment 

Condo Market Trends for November 2008 in 90802 Downtown Area

Long Beach Condos for Sale Now
Number of condos: 267
Avg. Listed Price: $456,245
Avg. Square Feet: 1,047
Avg. $/Square Foot: $410

Owners Accepting Backup Offers
# of condos: 18
Avg. Listed Price: $258,794
Avg. Square Feet: 927
Avg. $/Square Foot: $293

Pending Sales – not accepting backup offers
# of condos: 42
Avg. Listed Price: $326,391
Avg. Square Feet: 1,026
Avg. $/Square Foot: $309

Closed Long Beach Condo Sales in November 2008
# of condos: 17
Avg. Listed Price: $365,965
Avg. Square Feet: 1,143
Avg. $/Square Foot: $304
Avg. Days of Market: 82

On average, these listings sold for 13.11% less than asking price.

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Long Beach Condo Sales Report – 90802

November 9, 2008 by Jay Valento · Leave a Comment 

Real Estate in 90802: Focus on Long Beach Condo Activity

There are 257 condos for sale in 90802.  They range in price from $99,900 for a one bedroom, one bathroom with 552 square feet to a 3 bedroom, 3 bathroom condo for, get your check book, $2,449,000.  Of course with the $2 million dollar price tag you get 3,249 square feet…you get awesome ocean views and lots of windows…check it this downtown Long Beach condo.


Backup Offers in 90802
There are 11 condos accepting backup offers priced between $159,900 for a 2 bedroom, 2 bathroom condo that has 1,014 square feet on the low end.  On the high end, there is a 2 bedroom, 2 bath condo with 1,400 square feet on Ocean Blvd that was listed for $889,000.  The closer you are to the beach, the higher the price.

Pending Sales in 90802
There are 30 condos in Long Beach listed as a pending sale right now.  The price range is from $119,000 for a one bedroom, one bath to $997,000 for a three bedroom, three bathroom condo with 1,735 square feet.


Closed Sales in 90802 in the Month of October 2008

  • 30 Long Beach condos closed escrow in October.
  • The average price was $264,574
  • Average square footage: 866
  • Average price per square foot: $294
  • Average days on market before an accepted offer: 84
  • On average, these listings sold for $36,776 less than the asking price or 12.20%.
  • The price range of sales was from $85,000 to $759,000.


To find out the value of your condo in 90802 or another area of Long Beach or even in Southern California, simply go to this page on our website:  Long Beach condo values.  We will provide you with an estimate of the value of your property absolutely free as a community service.



All research was done through the southern California multiple listing service and is deemed reliable but not guarranteed.

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Long Beach Home Sales Report for 90802

November 9, 2008 by Jay Valento · Leave a Comment 

In the month of October 2008, the following real estate activity occurred in Long Beach, California in the zip code of 90802.  This zip code is most associated with the downtown area.

There are 18 single family homes on the market as of today priced between $135,000 for a one bedroom, one bath to $2,995,000 for a four bedroom, four bathroom home with 3,200 square feet.  The average price of all of these 18 Long Beach homes in this zip code is $585,556 with average of $319 per square foot and they have been on the market for sale for an average of 111 days.

Backup offers
There are 3 homes that are accepting backup offers just in case the current accepted offer from a buyer does not go through for the home owners.  The average price of these homes is $220,300 at $298 per square foot.  These three homes were on the market 97 days before they received an offer.  One of them sold on the first day it hit the market.  It must have been priced under market value.


Pending Sales

There are 6 in escrow that are not accepting backup offers.  Most likely the home owners and their agents feel confident that the buyers will continue with their purchase.  The average price is $283,242 at $231 per square foot.  These 6 homes were on the market for an average of 47 days before they got an accepted offer.


Sold Listings in 90802 of Long Beach Homes for October
Two homes closed escrow and sold…yikes…the average price was $353,500 at $223 per square foot and were only on the market for sale for 14 days.  These two homes sold for 0.30% less than the listed price or $1,050 less.


To find out the value of your home in 90802 or another area of Long Beach or even in Southern California, simply go to this page on our website:  Southern California home values.  We will provide you with an estimate of the value of your property absolutely free as a community service.



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