What have 1 Bedroom Homes done in Long Beach since 2000?

I recently did an appraisal of a 1 bedroom in Long Beach. During the course of my research, I wanted to see what 1 bedrooms have been doing since 1/1/2000.  I created this chart for all of  Long Beach. The higher values on the chart are from the Eastside and the Peninsula. What is most interesting to see,  is that during the peak around 2006, there are no sales under $200,000.  Think about that, these are typically first time buyer homes that are between 550 s.f. to 875 s.f. on small lots. To me, when I did a few appraisals of these back then, I would often think that this is just wrong, someone is willing to pay over $200k for a 1 bedroom, really?  But the comps actually supported those values.

Here is a link toa pdf of the chart.

1 Bedroom since 2000

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July 18, 2011   No Comments