Click on graph to enlarge... Single Family Homes Manhattan Beach
A lot of people don't feel that using the median or average price is a good measurement of the price of homes in the Manhattan Beach real estate market. I think if you use one market value measurement consistently then it doesn't make a lot of difference... as you are always using the same form of measurement.
When CAR releases their monthly figures they use the median figure... so I have always used that number for South Bay real estate figures too. However beginning with the Beach Cities:June 2007 Sold statistics I will be including the cost per sqft for all the Beach Cities. I will also periodically post a price per sqft comparison for Manhattan Beach homes from 2000 to 2007. Below you will find the numbers for the first 6 months of the year.
One of the interesting things about price per square foot is that the number (in a given year) can actually decline as homes get larger. If a lot of larger homes sell in a given month then the figure will be smaller then if a number of smaller homes sold in the previous month of the same year. Also if you have a lot of new construction selling in any given month it can skew the figures. This explains some of the big fluctuatons you often see in Manhattan Beach home prices from month to month.
There is simply no perfect measure of housing costs. If you live in an area with a lot of conforming housing (track homes).. then tracking by cost per sqft is easy. In the Beach Cities it is a more difficult process.
The Chart below reflects the days on market and price per sqft for homes sold from January - June 2000-20007
If you would like to see this expanded to the other beach cities let me know and I will set up graphs for them.. You can e-mail me if you would like to see information for for Hermosa, Redondo and El Segundo.
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