Manhattan Beach: What's Happening in the Market

We seem to be moving at a fairly normal level.. no big ups or downs showing up in the market for the last few months. Activity levels are fairly steady with similar numbers. The median price ( half above and half below)will vary depending on how many higher or lower priced properties are listed or sold in a given period.

This is how the numbers break out for each area:

There are currently 84 single Family Homes and 28 Townhomes/condos for sale. There are 48 single family homes and 19 ownhomes/condos that are under contract (pending sale). Since April 1, 2007 47 Single Family Homes and 18 Townhomes/condos have closed escrow.

Number of properties by price range:

When viewing the properties by price range you will note that the majority of homes are listing and selling between $1,000,000-$3,000,000 price range. You will also note that the number of homes under $2,000,000 is shrinking and those between $2,000,000-$3,000,000 is increasing. Much of the increase is in prices for new construction in the Trees, Sand and Hill sections. The most desired price range is between $1,400,000-$1,900,000. This is especially true for tree section homes over 1700 sqft.



You may also want to check out these posts:


Manhattan Beach: Market Snapshot April 23, 2007

Southern California: Holding it's Own in the Real Estate Wars

Southern California Real Estate: The Market That Won't Die.

Check the Archives for the these Reports:

Manhattan Beach: Market Snapshot March 17, 2007

Beach Cities Sold March 2007

Beach Cities SOLD February

Beach Cities SOLD January

Manhattan Beach... Where are the Listings?

If you are house hunting in Manhattan Beach you know that inventory is very limited especially in the $2,000,000 or less range. On February 12, 2007 there were 97 homes for sale in Manhattan Beach. Today there are 87.

Here is how they break out based on price:

• $0-$1,000,000 ( 5 properties for sale )


• $1,000,000-$2,000,000 ( 31 properties for sale )


• $2,000,000-$3,000,000 ( 35 properties for sale )


• $3,000,000-$4,000,000 (13 properties for sale )


• $5,000,000 or more (3 properties for sale )

This is the break out by area:

Sand Section ( Area 42) 20 homes

Tree Section (Area 43) 29 homes

Hill Section ( Area 44) 9 homes

Manhattan Village (Area 45) 1 home

Manhattan Heights (Area 46) 11 homes

Mira Costa ( Area 47) 17 homes

There are 56 homes pending ( in escrow.. price not released) median price is $1,995,000

30 homes have closed escrow since February 1, 2007 with a median price of $1,787,000

I suspect the February numbers for the price of homes in Manhattan Beach will be significantly higher then those posted for January. If inventory continues to decline you will see a very different market in May of 2007

Manhattan Beach and all Beach Cities Real Estate Snapshot

I'm still not sure what to make of the current real estate market. Inventory continues to stay down and there are not many new properties coming on the market. Buyers are re-entering the market and seem to be ready to buy once again. The homes, townhomes and condos in the Beach Cities that are selling are those that are in good shape and well priced. If a property is even slightly over market it is sitting. Some buyers appear ready to start making low offers on homes that have been For Sale over 60 days while others are waiting for sellers to lower prices before they will consider an offer. This trend looks to be true for all the beach cities and for much of California as well. It will be interesting to see what the next two weeks brings...