According to data from July 2025, the Bixby Knolls housing market has had a record housing appreciation over the last 5 years. Today, Buyer demand has soften because affordability becomes an issue for many buyers when they are consulting their lenders.
Key market trends in Bixby Knolls (July 2025)
- Prices are declining: The median sale price was $1.0 million, a 4.6% decrease from the same period last year. The median listing price also trended down, decreasing 7.4% year-over-year to $977,000.
- Sales volume is way down: The number of homes sold in July 2025 dropped to 15, a significant decline from 34 homes sold in July 2024. This represents a 55.9% year-over-year decrease in sales.
- Homes are taking longer to sell: The median time a home spent on the market increased slightly to 35 days, up from 33 days a year prior. Realtor.com shows a slightly higher median of 39 days.
- A “seller’s market” persists despite cooling: Despite the cooling, Bixby Knolls remains a seller’s market as of July 2025, indicating that there are still more buyers than available homes. However, the dynamics have shifted.
Factors driving the cooldown
- Higher interest rates: Rising mortgage rates have reduced buyer borrowing power, tempering the intense demand seen in previous years.
- Shift in market dynamics: The market is becoming more balanced, giving buyers slightly more negotiating leverage. Bidding wars are less common, and homes now sell for roughly their asking price, a change from the highly competitive market of the recent past.
- Long Beach mirroring regional trends: The Bixby Knolls slowdown is in line with the wider Long Beach and Southern California market. Long Beach as a whole saw median home prices decline 9.07% in July 2025, with increased inventory and longer market times.
Implications for buyers and sellers
- For buyers: More options and less competition: With more inventory and fewer bidding wars, buyers have more choices and time to make decisions. Potential for negotiation: The sale-to-list price ratio suggests that sellers are no longer consistently getting significantly above their asking price, creating more room for negotiation.
- For sellers: Strategic pricing is crucial: With more homes on the market, sellers can no longer rely on a bidding frenzy. Strategic and competitive pricing is necessary to attract serious offers. Importance of home presentation: As buyers have more choices, preparing and presenting a move-in-ready home becomes more important for a quick and profitable sale.
What does this mean for you? If you’re thinking about selling, fed rates just dropped YTD (Year To Date) lows causing buyers to be able to afford higher home prices. If you’re buying, opportunities are opening up with limited competition. Call us!
