Please find attached the market update as of August 9, 2009. The chart below shows a snapshot of the current inventory in Long Beach and Lakewood. The total inventory for Long Beach is decreasing, while the Lakewood inventory has stabilized from last week until this week.



REAL ESTATE PRICE & INVENTORY TRENDS FOR LONG BEACH

The median single family home price as of August 9, 2009 for LONG BEACH is $$369,445 (up $2,000 from last week).



There are about 1,086 properties on the market in LONG BEACH as of August 9, 2009. (down 10 properties from last week).
REAL ESTATE PRICE & INVENTORY TRENDS FOR LAKEWOOD
The median single family home price as of August 9, 2009 for LAKEWOOD is $385,018 (up about $1,000 from last week).

There are about 196 properties on the market in LAKEWOOD as of August 9, 2009 (up 1 property from last week).
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Current statistics for LA County.

The number of sales increased drastically compared to Jan or Feb 08. It's a consequence of the low prices (75% of sold listings are REO or Short sale) and low interest rates.

Prices dropped of almost 33% in one year!!!

Sales Statistics
for LOS ANGELES County CA
Realist's most recent recording date for this county is 03/16/2009
 Single Family Residence
 Time Period Number of Sales Median Sale Price 
 Feb 2009 2,910 $320,000 
 Feb 2008 2,262 $475,000 
 Jan 2009 3,121 $310,000 
 Jan 2008 2,181 $470,000 
 2009 YTD 6,304 $318,000 
 2008 43,690 $405,000 
 Condominium
 Time Period Number of Sales Median Sale Price 
 Feb 2009 753 $295,000 
 Feb 2008 872 $430,000 
 Jan 2009 848 $315,000 
 Jan 2008 811 $420,000 
 2009 YTD 1,678 $306,500 
 2008 14,755 $385,000 

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