Saturday, June 02, 2007

Manhattan Beach: Market Snapshot June 2, 2007

The Manhattan Beach real estate market is showing signs of slowing down a bit... which is normal for this time of year. As the school year ends people start planning vacations and house hunting becomes less intense then during the Spring.

Inventory has increased slightly over the last month, sales and pendings have slowed but as a market trend prices are holding fairly steady.. rising a litttle everywhere except east of Sepulveda in Mira Costa( area 47) . The number of homes for sale in the $4,000,000 plus category has increased from 2 to 7 .. two are on walkstreets and 5 are in the Hill section.

Homes and townhomes in the Manhattan Beach Sand section (area42) are still moving faster then in other areas. Inventory in the trees has increased but sales are down a bit.. which may be because the market over $2,100,000 is not seeing a lot of activity at the moment. Housing east of Sepulveda in both Manhattan Heights ( area 46) and Mira Costa (area 47) has also slowed a bit. Inventory is on the low side in both areas which may account for the shift.

The charts below are broken down by area and by price.

There are 100 Single Family Homes and 20 townhomes currently for sale in Manhattan Beach. There are 22 single family homes and 13 townhomes in escrow. 32 single family homes and 16 townhomes closed escrow in May.
Area statistics:

Breakout by Price:

If you would like to compare the market with market in May at about the same time:
Manhattan Beach: Market Snapshot May 6, 2007

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