Top Agents in Long Beach, California – Individuals By Sides

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2023 Long Beach, California Housing Market Summary

Long Beach, California started 2023 with a total of 145 single-family homes on the market, with a median home price of $899,900 and an average price per square foot of $676. By the end of the year, inventory had decreased to 131 homes on the market (-9%), with a median home price of $985,000 (+9%) and an average price per square foot of $756 (+11%).

At the start of 2023, the median days on market (DOM) was 63 days – by the end of the year, median DOM had decreased to 56 days.

Long Beach started the year with 43% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 41% of Long Beach homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Long Beach started 2023 as a strong seller’s market, with an MAI score of 46; by the end of the year, the MAI had rose to 55 – a strong seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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