Manhattan Beach Pier....
What a difference a few weeks can make. As we enter the last week of March 22 homes and 12 townhomes/condos have closed escrow as of March 26, 2012....66 homes and 15 townhomes/condos are pending and 68/22 townhomes/condos homes are for sale. As you can see below February only had 20 homes and townhomes/condos close escrow.
As the song says it's really something' when the joint is jumpin' .... and the Beach Cities real estate market and especially Manhattan Beach seems to fit the lyrics. Whether this is a permanent condition or just temporary remains to be seen but for now there's a lot of buying and selling going on.
The keys to all the action are location and price... the property can be a tear down or well maintained but it must be priced right and in a good location. If you get the right combo you can expect multiple offers.. if you miss it by even a little you will be sitting for awhile.
Builders are beginning to rethink the market and entry land value properties are seeing prices move upward. That cute little 2 bedroom 1 bath in the trees at $800,000 is gone. Want a 50x150 in east Manhattan don't bother looking at last year's comps.
Manhattan Beach: Sold February 2012