Long Beach Market Absorption Rates

The absorption rate is how long the current inventory will remain on the market at the current rate of selling. In all price ranges shown, there are more properties currently in escrow than have closed escrow in the last 30 days. Hopefully that means that the economic stimulus package and temporary increase in loan amounts is bringing a surge in activity.

Here are several different listing and selling price range categories for all properties (commercial/residential but mostly residential including large multiunits) in Long Beach listed on the MLS as of 4/9/2008:

$1 million plus listing price:
260 active listings; 10 sold in the last 30 days at an average of 107 days on the market; Market Absorption Rate is 26 months. But in this price range there are currently 26 in escrow (backup and pending).

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