I've been compiling a lot of numbers in the last week on home prices in Manhattan Beach and the Beach Cities. Over the next two weeks I will be posting that information beginning with Manhattan Beach. The following information is based on the number of sales and the price per sqft for single family homes in Manhattan Beach from January 2000-December 2007.
Manhattan Beach: Home Prices January-June 2000-2007
Manhattan Beach: Home Prices July-December 2000-2007
One of the things I noticed is that the number of sales for 2005, 2006 and 2007 are fairly consistent from January-December with the exception of November 2007 when sales were half of previous sales in November for the last three years. The number of first quarter sales in 2007 was higher then in 2005 or 2006. The actual number of sales begins to move downward in the second quarter of 2007 with the largest decrease in May 2007 with 13 fewer sales but with the overall highest price per sqft of any month or year from 2000-2007. The third quarter of 2007 shows sales volume down from 2005 and 2006 but not as much as you might expect( with the exception of November) considering the overall financial problems and general housing market declines nationwide and in much of California.
Part II will be feature the Days on Market and Median Price for homes sold in Manhattan Beach from 2000-2007
2 comments:
Thanks for your work on this, Kaye.
I notice that the number of sales for 2007 for the second half of the year here (July-Dec.) are the lowest of the decade in every month.
October's 18 was the same as Oct. 2006's 18, but otherwise every month in '07 was the lowest of the decade...
MB Watcher..
You are correct... the second half of 2007 is certainly lower then other months but not terribly lower then similar months from 2005 other then November 2007 which was just plain awful.
2007 was down from 2005 by 52 salesaand down from 2006 by 25 sales. We know the market is going down.. we just don't know yet by how much.... Will we be facing calamity or just a lousy market? I wish I had the answer... At this point I'm voting for a mediocre flat market to a semi-dismal down market.. but still not seeing anything close to catastrophic.
Could my outlook change.. you bet.. A total bank failure, a major drop in employment or one nasty surprise at LAX or the Port of LA and life could change in a heartbeat.
Let's just hope the changes in our market remain fairly manageable. No matter what many tout.. no one truly wants to see the economy tank.
** I had to make a correction to this post.. obviously did not have my reading glasses on..
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