Sunday, May 06, 2007

Manhattan Beach: What's Happening in the Market

We seem to be moving at a fairly normal level.. no big ups or downs showing up in the market for the last few months. Activity levels are fairly steady with similar numbers. The median price ( half above and half below)will vary depending on how many higher or lower priced properties are listed or sold in a given period.

This is how the numbers break out for each area:

There are currently 84 single Family Homes and 28 Townhomes/condos for sale. There are 48 single family homes and 19 ownhomes/condos that are under contract (pending sale). Since April 1, 2007 47 Single Family Homes and 18 Townhomes/condos have closed escrow.

Number of properties by price range:

When viewing the properties by price range you will note that the majority of homes are listing and selling between $1,000,000-$3,000,000 price range. You will also note that the number of homes under $2,000,000 is shrinking and those between $2,000,000-$3,000,000 is increasing. Much of the increase is in prices for new construction in the Trees, Sand and Hill sections. The most desired price range is between $1,400,000-$1,900,000. This is especially true for tree section homes over 1700 sqft.

You may also want to check out these posts:

Manhattan Beach: Market Snapshot April 23, 2007

Southern California: Holding it's Own in the Real Estate Wars

Southern California Real Estate: The Market That Won't Die.

Check the Archives for the these Reports:

Manhattan Beach: Market Snapshot March 17, 2007

Beach Cities Sold March 2007

Beach Cities SOLD February

Beach Cities SOLD January

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