Manhattan Beach: Market Snapshot July 23, 2009

Manhattan Beach: July Days on Market

Inventory has dropped significantly over the last few months as sales have shown a marked improvement. Manhattan Beach home sales in April, May, June and July were up considerably over the preceeding 6 months. Low interest rates and falling prices have helped to boost sales over the last four months.

Traditionally sales begin to slack off in August as folks think about a last trip for the summer and gear up for school to start. From September to the end of October sales continue to be on the slow side but often post a slight uptick toward the end of the year as deals come together for those who must sell and those who must buy before the end of the calendar year.

If interest rates continue to be low, jumbo loans stay available and prices keep dipping; then we may see a slightly longer selling season... perhaps into September. The major key to continued sales will be prices. Of the 19 closed sales in Manhattan Beach as of July 23, 2009, 14 were under $2M. Currently of the 153 homes for sale... 71 are under $2M and 82 are over the $2M mark. This is a market that is out of balance. Generally the majority of homes are in the middle price ranges. In Manhattan Beach we are seeing inventory levels below $2M declining while inventory above that range is increasing with few sales.

While prices are hovering between 2004-2005 levels in all the Beach Cities, there is still a strong core of homeowners who believe they are immune to the market. To be fair this is not limited to Manhattan Beach but is also a hope of many home sellers in Hermosa and South Redondo. As low appraisals continue to hit the market, many of these sellers are going to find themselves in a pickle when there are not enough comps to justify a higher price and buyers won't pay more then the appraised value.

Manhattan Beach: Market Snapshot July 22, 2009( click on graph to enlarge)

Manhattan Beach: Price Ranges July 23, 2009

Manhattan Beach: Market Snapshot June 15, 2009

Manhattan Beach: Market Snapshot May 11, 2009

Manhattan Beach: Market Snapshot April 14, 2009

Manhattan Beach: Market Snapshot March 14, 2009


Manhattan Beach: Market Snapshot February 10, 2009

Manhattan Beach: Market Snapshot January 19, 2009

Manhattan Beach: Market Snapshot December 4, 2008

Manhattan Beach: Market Snapshot November 8, 2008

Manhattan Beach: Market Snapshot October 13, 2008

Manhattan Beach: Market Snapshot September 15, 2008

Manhattan Beach: Market Snapshot August 19, 2008

Manhattan Beach: Market Snapshot July 17, 2008

Manhattan Beach: Market Snapshot July 7, 2008

Manhattan Beach: Market Snapshot June 20, 2008

Manhattan Beach: Market Snapshot June 5, 2008

Manhattan Beach: Market Snapshot April 29, 2008

Manhattan Beach:Market Snapshot 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

*There are a few more sales and pending sales not on the MLS that are not included in the graphs.