Manhattan Beach Fire Station
A curious phenomena is happening in the Manhattan Beach real estate market. The number of homes for sale under $1,000,000 and the number over $4,000,000 are almost equal. While the rest of the market data doesn't form a perfect curve it is still a unique feature of the current real estate housing market to have the high end and the low end almost identical. In the time I've been keeping statistics for price ranges of Manhattan Beach housing this has not been the case. These numbers typically were very divergent.
There are currently 150 homes and 29 townhomes/condos for sale in Manhattan Beach. There are 49 homes and 7 townhomes/condos in escrow. As of April 1, 2008, 7 homes and 3 townhomes have closed escrow.
Manhattan Beach: Market Snapshot April 14, 2008(click on graph to enlarge)
Manhattan Beach: Price Ranges April 14, 2008
Manhattan Beach: Market Snapshot March 31, 2008
Manhattan Beach: Market Snapshot March 13, 2008
Manhattan Beach: Market Snapshot February 26, 2008
Manhattan Beach, CA: Market Snapshot February 11, 2008
Manhattan Beach, CA: Market Snapshot December 12, 2007
Manhattan Beach: Market Snapshot November 8, 2007
Manhattan Beach: Market Snapshot October 12, 2007
Manhattan Beach: Market Snapshot September 29, 2007
Manhattan Beach: Market Snapshot September 15, 2007
Manhattan Beach: Market Snapshot August 25, 2007
Manhattan Beach: Market Snapshot July 18, 2007
Manhattan Beach: Market Snapshot June 25, 2007
Manhattan Beach: Market Snapshot June 2, 2007
Manhattan Beach: Market Snapshot May 6, 2007
Manhattan Beach: Market Snapshot April 23, 2007
5 comments:
The increase in low end is because builders have pulled back purchasing teardowns because they are afraid of taking a bath. Should be pretty telling of market conditions.
I don't recall there being a single listing for a SFH in all of MB for less than 1-M this year in all of MB. Right now there are five less than 900-K on MRMLS.
Kind of interesting. Once builders and "flippers" pullback, low end inventory is building up quickly. I think people interested in paying 800-1000-K for a very small, not updated house are very few and far between. It will be very interesting to see what happens as inventory builds up at low end.
Anonymous 9:34,
There have always been a few... but rarely more then 3 at any one time and they were generally in the mid to high $900 group.
I agree that builders by removing themselves from the market have changed the low end of the market and increased the number of those homes while lowering the price levels for them
Look out below...
My folks bought 864 12th Court in 1951-52 for $12,000! We used to walk down to the pier and to the La Mar Theater barefoot! We'd stop at the railroad tracks and pick up pottery chards and pieces in the sand from Poppy Trail Pottery.I can still smell the eucalyptus trees and see the ocean glissen in the sun. It was a special place to grow up.
Melanie.. MB was a different place then.. I really miss the pottery shops where you could buy a cup or a plate or an interesting bowl..
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