Tuesday, August 19, 2008

Manhattan Beach: Market Snapshot August 19, 2008


East Manhattan Beach Homes


Amid predictions of a total market crash, Manhattan Beach real estate just seems to keep hanging in... neither a spectacular crash nor a bounding recovery... just slow and steady. Prices seemed to have dipped a bit but they are still on the high side compared to other areas in Southern California.

July sales were about the same as June.. 26 homes and 6 townhomes closed escrow. Currently there are 165 homes and 30 townhomes for sale. There are 47 pending home sales and 11 pending townhome sales. So far this month 11 homes and 4 townhomes have closed escrow.


August is typically one of the slowest month as consumers get ready for back to school and one last vacation before school begins. This year school starts early August 27, 2008 so sales are even a bit slower then usual. We usually see these numbers reflected in September and October sales.


Manhattan Beach: Market Snapshot August 19, 2008




Manhattan Beach: Price Ranges August 19, 2008






2 comments:

Anonymous said...

Kaye

Since summer is the peak buying season, how much do you see things slowing as we head towards the holidays/year end?

Kaye Thomas said...

Anonymous 10:47,
In our area Spring is the hot buying season ( March-May).. slows a bit in summer (June-July) then gets slower (August-October) will often pick up a bit at the end of the year( Nov-Dec) and then stays about the same (Jan-Feb) and picks up again in March.

I think we will see a market that will slow slightly over the next few months and perhaps pick up a little in late October around the election.

A lot will depend on what happens with interest rates and the economy.