Tuesday, June 28, 2011

Manhattan Beach Market Snapshot: Sold May 2011

Manhattan Beach Market Snapshot May 2011

May sales figures leave no doubt that the volume of sales is down from last year at this time. While the number of sales isn't off much ... 45 homes and townhome sales in May 2010 vs 37 homes and townhomes sold in May 2011... in our small real estate market 8 sales makes a difference.

Tougher loan guidelines and regulations, consumer concerns about employment and the overall economy are making many buyers skittish about where the market is headed. The boys in D.C. continue to complain about the housing market while they issue guidelines and rules that make it much harder to get a loan than it was in pre 2002.

While buyers in our local Manhattan Beach real estate market generally have the financial qualifications to purchase a home, they are still leery about what is happening in the economy both locally and nationally.

I think most buyers can expect prices on Manhattan Beach homes to remain flat with minor ups and downs in the various subareas. I really don't think we will see any major price declines and certainly no increases for sometime. As long as the economic outlook remains uneven real estate sales will continue to be sluggish even in Manhattan Beach.....

Manhattan Beach : Sold May 2011

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