Transcript of Video
Hi, Matt Tilly, the British bloke, I just want to do a quick market report today to show you the difference between the markets. Let me see if I can bring this up. The difference between the market this time last year and this year, obviously, a lot's been going on this year with the pandemic and jobs and the economy. So a lot of people saying, what was it like compared to this time last year? Is it better or is it worse?
So today I'm going to do a quick report on Long Beach, Long Beach housing market, single family homes comparing June of this year compared to June of last year. As you can see, I've got some details. So this time last year or June last year, 255 homes on the market this year, 203 so about 20 percent less homes, depending on where you are in Southern California, that can go to as high as 50 percent less homes in the market this year, pending sales almost 50 percent less than this time last year.
But as you can see, closed sales. We're not that far behind 20 percent last year. 197 closed deals in Long Beach in June, this year 157. What's really striking. So that's obviously those stats aren't as good. But what's really striking if you're a seller is days on market. Homes are selling 25 percent quicker than this time last year. If you put your house on the market and it's priced well right now, your home is selling in 25 days or less.
Now, that is fast. And as you can see, the average sales price is two percent higher than this time last year. So last year, average price of a house. $747,000 in Long Beach this time $762,000. So even though the economy has taken a huge hit, even though we're in a pandemic, unemployment sky high, if you're a seller right now, your home selling quicker than this time last year and for more money because interest rates are keeping the buyers out, that there's so many buyers out there right now and there's just not enough homes.
So as you can see, there was 457 homes for sale in June last year. This year, theres 344 so 25% less homes currently on the market. And in terms of a viable, I'm seeing just as many buyers as this time last year. So if you are thinking about selling your home, it's not all doom and gloom. I'm calling it a golden market right now. I think it's good for buyers.
Low interest rates I think is good for sellers. I'm selling for more money than this time last year and quicker. So a little snippet here of of of the Long Beach market. You got any questions? I want to go into more detail. Give me a call. 323-350-5770 . Like I said, my name is Matt Tilley first team real estate here in Long Beach. Happy to help!