Downtown Long Beach Condos - Market Report - August 2007

DOWNTOWN LONG BEACH REAL ESTATE

Downtown Long Beach Condos

Market Report 8/1/2007 - 8/31/2007

STUDIO CONDOS

ACTIVE

There are 17 STUDIO condos currently active on the market in Downtown Long Beach, ranging in price from $145,000 to $289,000. Square footage ranging from 290' to 527' sq ft. Days on market ranging from 18 to 363, average days on market is 143. Only 2 of these units indicate a parking space included. Monthly parking can be arranged very reasonably at any one of the area's many parking lots.

If you are looking for affordable student housing in the Long Beach area one of these lower priced units may just be for you.

Some Downtown studio's have been purchased for professional office space, not a bad idea, certainly a great tax write off. Be sure to check the CC & R's to make certain that it is permissable.

IN ESCROW

One studio unit went into escrow during August; a 492 sq ft unit priced at $269,000, after having been on the market for 112 days. This unit is completely and beautifully remodeled with a stunning new kitchen, granite countertops, stainless appliances, recessed lighting and ceramic tile floors. Zen styled bathroom with designer rectangular sink and vanity. Hardwood floors and Plantation Shutters! The unit was sold fully furnished complete with King Size Murphy-type bed neatly hid behind plantation shutters. But sadly, no parking space; very common in the smaller units of Downtown. A steep price to pay to live in such a tiny place without a parking space, but hey, you scored a gorgeous unit in a historic building.

SOLD

No Downtown Long Beach Condo studio units closed escrow in August 2007.

ONE BEDROOM CONDOS

ACTIVE

There are currently 78 one bedroom condo's active on the market in Downtown Long Beach, ranging in price from $189,900 to $650,000. Square footage ranging from 450' to 1017' sq ft. Average days on market is 82, one as high as 351 days on market.

32 of these condos indicate one parking space included, 8 have 2 parking spaces. Monthly parking may be arranged very reasonably at any one of the area's many parking lots.

IN ESCROW

5 one bedroom condos went into escrow during August 2007:

2 are currently accepting Back-Up offers; average price $204,900, average days on market 80, average square footage 555. One of these units indicates a parking space included.

3 are currently pending; average price $291,666, average days on market 176, average square footage 624. One of these units indicates a parking space included.

SOLD

3 one bedroom, Downtown Long Beach Condos closed escrow (SOLD) during August 2007. Average sale price $242,500, average square footage 566; average days on market 103. 2 of these units had 1 bath, one had 1.5 baths. Only one of these units indicate a parking space included.

Read the rest of the report over at Long Beach Real Estate Home »

Laurie Manny

(562) 212-5420

(714) 376-9550