Lots of interesting things happening in our local Manhattan Beach real estate market since the first of the year. The above inventory is from mid-month January. While new listings started hitting the market early this year, they also started selling. Currently there are 69 homes and 24 townhomes for sale in Manhattan Beach . There are 59 homes and 24 townhomes in escrow.
In the sand section almost all the new construction townhomes have pre-sold during construction. They sold over $M. I know of one project that has just started framing and the agent is getting daily calls from buyers about purchasing.
Whether this is just a little Spring Fever or the start of a different market remains to be seen. But the vibe of this market seems different than what we have seen in previous years. Builders are beginning to return to the market especially west of Sepulveda and in the Mira Costa area. There seems to be a lot of demand for new construction not just in Manhattan Beach but in the other Beach Cities as well.
However it is important to remember that the housing market is still shaky at best and a lot can happen over the next few months that could affect the housing and financial markets. This is an election year and anything can happen!
Manhattan Beach: SOLD January 2012