Manhattan Beach home sales for January and February 2011 are in and it's a mixed bag for the Manhattan Beach real estate market. January 2011 sales were lower than those in January 2010 but February 2011 sales were higher than February 2010. January and February sale figures are usually lower then other months as they reflect sales at the end of the year.
Pending sale numbers are looking better with 49 homes and 18 townhomes/condos currently in escrow. A few of these may not make it through the process to closing but most of the homes currently in escrow will find new owners.
Despite all the troubles in the Middle East we do appear to be inching our way out of the recession. One of the major differences between this recession and others is that housing will likely be the last area to emerge from the doldrums rather then one of the first.
Coastal cities in California seem to be doing better than other areas of the state. While prices are certainly not headed up they do appear to be starting to stabilize in Manhattan Beach ( see charts for sales 2001-2010) and the Beach Cities.
Manhattan Beach: Sold January 2010 vs January 2011
Manhattan Beach: Sold February 2010 vs February 2011
Manhattan Beach: Sold Homes January-June 2001-2010
Manhattan Beach: Sold Homes July-December 2001-2010