Top Real Estate Agents in Long Beach, California

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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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Navigating a new network: Lessons from Zink Capital’s US expansion 

Jul 19, 2024By

Expanding into a new real estate market poses challenges, from language barriers to cultural differences. Zink’s journey into the U.S. market highlights the importance of strategic planning, community building, and branding. By understanding market trends and leveraging local networks, real estate professionals can achieve long-term success in new territories.