Long Beach, CA Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is this the best time to sell a house in California? ›

Best Time to Sell Your House for a Higher Price

April, June, and July are the best months to sell your house in California. The median sale price of houses in June 2023, was $796,400, which is expected to grow more in 2024. However, cities like Arcadia and San Mateo follow an upward trend throughout the year.

In terms of listing sources, Zillow offers a broader variety of FSBO options, while Realtor.com ensures data accuracy with its focus on licensed agents, impacting potential buyer reach for each platform.

The Most Expensive Home Ever Sold in California Is a $210 Million Malibu Mansion | Architectural Digest.

The worst time to sell a house is typically during the winter months, particularly in December, January, and February. During this period, bad weather can deter potential buyers from attending open houses, and many people are preoccupied with holiday activities and planning.

Sellers can net thousands of dollars more if they sell during the peak months of May, June and April compared to the three slowest months of the year, October, November and December, according to a 2023 report by ATTOM Data Solutions.

How accurate is the Zestimate? The nationwide median error rate for the Zestimate for on-market homes is 2.4%, while the Zestimate for off-market homes has a median error rate of 7.49%. The Zestimate's accuracy depends on the availability of data in a home's area.

Are Realtor.com Estimates Accurate? Realtor.com estimates are very accurate, but they do not hold 10% of the time. To overcome this scenario, home buyers can compare data provided by Realtor.com with local real estate agents regarding properties available for sale and yield more precise information.

How much does a Real Estate Agent make in California? As of Aug 6, 2024, the average annual pay for a Real Estate Agent in California is $85,825 a year. Just in case you need a simple salary calculator, that works out to be approximately $41.26 an hour. This is the equivalent of $1,650/week or $7,152/month.

Who is the billionaire in real estate in California? ›

Donald Bren is America's wealthiest real estate baron. His Irvine Co. owns 129 million square feet of real estate, mostly in Southern California. His portfolio includes more than 590 office buildings and 125 apartment complexes.

What Is the Most Expensive House in California? The title for the Most Expensive House in California belongs to Casa Encantada in the Bel-Air neighborhood of Los Angeles. This is one of the best places to live in California for the rich and famous.

Most listings hit the market in a short window between the months of April and June. If you're planning to buy in a market with harsh winter weather, May and June typically have twice as many active listings as December or January. However, in temperate markets this springtime pattern is far less noticeable.

Existing, single-family home sales are forecast to total 327,100 units in 2024, an increase of 22.9 percent from 2023's projected pace of 266,200. California's median home price is forecast to climb 6.2 percent to $860,300 in 2024, following a projected 1.5 percent decrease to $810,000 in 2023 from 2022's $822,300.

Some experts don't expect home prices to decline in the near future unless there's a recession. That's because while inventory is improving, it's still low historically. Prices, however, should climb more slowly, giving incomes a chance to catch up.

In a recent note, Chief US Economist Michael Gapen and his team revealed that they expect home prices to rise by 4.5% this year and 5% in 2025. Gapen doesn't foresee the market cooling down until 2026 at the earliest. With this in mind, current homeowners can sell for even higher prices down the road.

Housing Market Forecast for 2024

“The market will move toward more of a balanced housing market in the second half of the year, but prospective home buyers will still face competition.” Though affordability obstacles persist for buyers, other indicators suggest that the market is tilting toward buyers.

California's median home price is forecast to climb 6.2 percent to $860,300 in 2024, following a projected 1.5 percent decrease to $810,000 in 2023 from 2022's $822,300. Housing affordability* is expected to remain flat at 17 percent next year from a projected 17 percent in 2023.