In case you want to buy, sell or rent a home in Long Beach, CA, RTI Properties Inc, Property Management Company has some real estate market trends for you. Our professionals are here to provide the Long Beach Property Management services for searching the suitable rental property for you.
Long Beach, CA Home Values Trends*:
Housing trends in Long Beach show a 4.0% increase in median home sales price over the past year. The forecast is that it will further rise to 5.1 % in next year. The median Homes Sales Price is $589,000, and the rate is $ 458 per square foot. The median price of homes in Long Beach is $605,000 for homes currently listed, and median rent of sold is $550,500. In Long Beach, 0.6 homes for every 10.000 are under foreclosure, less than the national value of 1.2. Foreclosures are likely to remain a factor in changing home prices in the coming years. At present, there are 1152 homes under enlistment which include 293 condos $ 4 foreclosures.
Foreclosed Homeowners Underwater in Long Beach, CA:
2008’s Bubble impact lowered home values nationwide by 20% from their peak in 2007 to trough in 2011. In Long Beach, 0.6% are delinquent mortgages which are less than the national average of 1.1%. Many homeowners failed to return their mortgage loans to financial companies. Many homeowners (5.1%) are under trouble since they owe to financial institutions more than the present value of their home.
Rental Market Trends** in Long Beach, CA
In Long Beach, Rental trends indicate an increase in median rent by 6% from last year. The median home rent per month is $2,200.The average rent for an apartment ( 795 sq. ft. average apartment size) is $1,875 per month, 1% more as compared to the previous year when the average rent was $1,848.The average rent of Studio (484 sq. ft. average apartment size) is $1,285, one bedroom( 698 sq. ft. average apartment size) rents at an average $1,745 a month , 2- bedroom ( 970 sq. ft. average apartment size)at average rent of $2,163 a month & 3-bedroom (1200 sq. ft. average apartment size) at an average rent of $ 2,596. The figures in Long Beach apartment rents are :
*Based on data updated October 2018.
** Based on data updated November 2018.