Los Altos is a highly desirable section of Long Beach, due in large part to its proximity to K-12 schools, CSULB, El Dorado Park and Belmont Shore. Of course, the quiet tree-lined streets don’t hurt either. So what do this month’s* numbers tell us about the Los Altos real estate market?
Our take is that it’s a seller’s market. With single family homes as with condos, the supply has gone down slightly compared to last year. With condos, this seems to be the trend for the past twelve months. Fewer homes on the market hasn’t had a negative effect on the list price, however. The average sales price is up 24.4% for single family homes and 13.3% for condos! And although the percentage of sellers who received their original list price was down in February, the last twelve months show an overall increase. It’s good news for condo owners too, who received over 100% of their original list price!
*By ‘this month’ we’re actually talking about the month of February, since the numbers for March have yet to be determined.
HOMES FOR SALE:
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