Long Beach Real Estate Market Trends and Forecasts 2019 to 2021

Long Beach Real Estate Market 2019 Insight and Statistics

The California real estate market considers itself into a well-known and much-desired investment location for many investors and so in its Long Beach real estate market. Long Beach, a coastal city and port in Southern California which is in the southeastern corner of Los Angeles County and borders Orange County, having a population of over 470,000 residents is the ideal location for families and business. Long Beach the second-largest city in the Los Angeles Metropolitan area maintains a progressively declining oil industry with minor wells located both directly beneath the city as well as offshore. Manufacturing sectors include those in aircraft, automotive parts, electronic equipment, audiovisual equipment, petrochemicals, precision metals, and home furnishings. If you’re keen to invest in your future in the Long Beach real estate market 2019 and buy before prices become out of reach, you must peruse till the end.

However, being a massive real estate market is not enough to invest in Long Beach. Although Long Beach definitely has a track record of being one of the best long term real estate investments in the US over the past ten years. For buyers, the affordability is dropping and only 30% of residents own home as prices are at a much higher rate. While Long Beach home prices may be at increment level slightly over the next year, the fact remains that there are many homes available at fair prices. Let’s take a close look at Long Beach real estate market trends and forecasts for 2019 & 2020 find out why is it one of best real estate markets to invest in California.

Long Beach Real Estate Market Forecast 2019, 2020 and 2021

The median home value in Long Beach is $640K and the average list price per square foot in Long Beach is $480. Long Beach housing market indicate an increase of 5% in median home prices over the past year and expected to grow by 1.1% within the next year.

According to several real estate experts, the real estate market in Long Beach will continue to increase in 2019, but more favorable to sellers.

Long Beach continued dropping to 4.1 percent in the unemployment rate, a 10.5 percent drop in the last eight years. It has seen unprecedented economic growth in new housing, commercial centers, and public infrastructure and local economy are booming. A significant resurgence in private investment and real estate development is part of the driving force for the continued favorable unemployment decrease. Long Beach’s award-winning Downtown Plan (PD-30), adopted in 2012, and strategic economic development efforts, have been the catalyst for much of the growth and resurgence of the downtown area and adjacent neighborhoods. the business community recognized the City of Long Beach as one of the five most business-friendly cities in Los Angeles County. Future job growth over the next ten years is predicted to be 32.5% against US growth of 33.5%. The median household income of a Long Beach resident is $52,944 per year.

Strong demand from an eager demographic and economy is clashing with a local resident to create a volatile real estate market in Long Beach. Read the article to get familiar with Long Beach market trends and predictions from 2019 to 2021.

Long Beach Housing Market Forecast 2019 – 2021

The Long Beach housing market forecast for the 3 years ending with the 3rd Quarter of 2021 is also positive. Apparently, home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018.

How is the Long Beach Real Estate Market Trends?

The average price of homes currently listed in Long Beach is $599,900 while the median sale price of homes is $552,200. The median rent price in Long Beach is $2,670.

The Long Beach real estate market trends in 2019 indicate an increase of 5% in median home sales and a 5% rise in median rent per month over the past year. Progress REG has 400 active listings for sale in Long Beach, CA, including open houses, and homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.

Long Beach Condos Market Trends

The median selling price of condos in Long Beach is $400K. Browse our condos listings for sale in Long Beach, CA.

Long Beach Rental Market Trends

Progress REG currently has 131 rentals listings in Long Beach, CA. The median rent in Long Beach is $2,670 per month and the rent list price per Sf. Ft. is $2.40

Best Neighborhoods in Long Beach For Real Estate Investment

There are 82 neighborhoods in Long Beach. Belmont Heights has a median listing price of $730K, making it the most expensive neighborhood. East Village Los Angeles is the most affordable neighborhood in Long Beach, with a median listing price of $310K. These are the 10 best neighborhoods in Long Beach to invest in real estate because they have the highest real estate appreciation rates.

Is Long Beach The Best Place In California To Invest In Real Estate?

According to Progress Real Estate Group team, buying in a market with ascending level prices, low interest, and low availability requires a different approach than buying in a cooler market.

Now that you're well aware of Long Beach real estate market trends, you will need to know where to get in on the action. Progress Real Estate Group the most preeminent real estate experts of Long Beach, CA are here ready to fulfill all real estate needs for premier Long Beach living. We offer the great MLS Listings for Long Beach, CA homes to match the perfect community for you. Contact us today or call us now at (562) 388-3318 for more information.