Manhattan Beach Real Estate-Redondo Beach Townhomes: Manhattan Beach: Market Snapshot April 29, 2008

Morning in Manhattan Beach

All in all April has been a rather interesting month for Manhattan Beach real estate. Inventory for homes is up slightly as are sales. The townhome market is seeing a few more sales but with the exception of Manhattan Village and a few really inexpensive condos has been slow. So far 25 homes and 3 townhomes have closed escrow. I think we can expect to see a few more tomorrow as there are usually a number of closings on the last day of the month. These are just the MLS numbers and don't include off MLS sales.

While these numbers don't compare to those of 2002-2006 they are better then we have seen in sometime. Inventory remains an issue not so much because it is up slightly but because many of the listings have been on the market a long time without price reductions. This is not just an issue with Manhattan Beach homes but with real estate currently for sale in all the Beach Cities. New inventory that is priced right is selling while old inventory seems to be passed by as being... well old inventory.

Currently there are 152 homes and 31 townhomes/condos for sale. The median price of a home is $2,015,000 and $1,725,000 for a townhome/condo. The least expensive home is my listing in the trees... 3612 Poinsettia .. priced at $849,000. The most expensive is a 5 bedroom Hill section home priced at $8,000,000.

Manhattan Beach: Market Snapshot April 29, 2008 (click on graph to enlarge)