The hottest home-selling market in L.A. isn’t in L.A. It’s Long Beach.
The fastest-selling housing market by ZIP code in Los Angeles County is Long Beach’s 90808, with 37 days to move a typical home, according to LA Business First, citing figures by Black Knight.
The newspaper studie the fastest-selling ZIP codes around the nation during the second quarter ending in June, focusing on ZIPs with at least 20 homes that sold for a minimum average of $350,000.
L.A. County’s speediest home sale ZIP codes include a half-dozen to trade faster than the national average of 81 days. In California, homes sold in 58 days on average last quarter.
Typical homes in Artesia’s 90703 and Carson’s 90746 and 90745 lingered for 39 days until they sold. Homes in Pasadena’s 91107, Lakewood’s 90713 and Long Beach’s 90755 took 40 days.
Among the nation’s 10 fastest-selling ZIP codes, 30 days was the average time on the market.
The quickest sprint to sell a house, from listing to escrow, was 98403 in Snohomish County, Wash. at 27 days; followed by 94703 in Alameda County at 29; and 95118 in Santa Clara and 94925 in Marin counties at 30 days.
The fastest-selling ZIP codes were clustered mainly around tech hubs, particularly Seattle and San Francisco — despite many of those markets qualifying as overvalued, according to research by the online business journal.
The average selling price for the second quarter was $683,563, an increase of 6 percent from the previous quarter — and up 53 percent from pre-pandemic sales figures.
Among the second quarter’s fastest-selling ZIP codes, $1.4 million was the average home price.
— Dana Bartholomew
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The post Buyers snap up homes in Long Beach faster than anywhere in LA County appeared first on The Real Deal.
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