Alamitos Heights Long Beach

Your Neighborhood Blog by Craig Wallace Group

3rd Quarter Market Update.

So what has been happening in Alamitos Heights?

I tried a new service from Fiverr.com to make this great little video below. I did not want to use my voice for the voice over, but next time I will. After a few rounds of revisions, the voice over guy just could not get the correct pronunciation of “Alamitos”. I guess when you grow up in Southern California, you are used to the latin pronunciation of words and you don’t have to think about them.

Now for the update.

We seem to be in a state of  transition, we are not seeing the rapid price appreciation of years past. We hare heading to a more normal market. Values seem to be hitting a plateau.

all sales since 2001

  ( click on picture for larger image)

 If we look at the List price versus Sold price graph below, we can see that the majority of homes are selling below list price, with a few exceptions. One being 528 Havana Avenue, this solf for $200,000 over asking price!  I think it had to do with the fact that this home sits on large lot. The other large lot sale was 680 Havana Avenue. This home could have sold for more, but it is located one house south of 7th Street.

sold v list

 ( click on picture for larger image)

This next chart shows us Sales by month, but what we really like to see is the number of sales per year. This year we have 15 closed sales. With the 3 pending and 3 active listings, we could be on track to end the year with 21 sales. This would put us close to sales of the past 3 years.

sales by year

 

sale per month per year

( click on picture for larger image)

What does all this mean to you? Simple,  SELL! If you are thinking about selling, now is the time. If you are thinking about buying, now is the time. Mortgage rates are predicted to move up, and when they do, your purchasing power moves down.

AH_September

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