Manhattan Beach: Market Snapshot July 18, 2007

Manhattan Village

Listings for homes in Manhattan Beach are holding steady and are about the same as last month at this time but up from the first and second quarter. Closed real estate salesin Manhattan Beach since July 1, 2007 are not looking great but pendings are doing well.

However as a side note almost all of the pendings this month are under $2,000,000. There are 49 pending home sales in Manhattan Beach and 38 of those are $2,000,000 or less. Currently out of 107 active listings 64 are priced over the $2,000,000 mark. This may be something sellers will need to view more closely as they consider where to price their homes.

Manhattan Beach Townhomes and condos are still doing pretty well but closed sales of townhomes are off there as well. The number of active listings is very low which makes the pending sales appear lower as the inventory decreases.

I think we may begin to see an effect from the tightening of lending rules on the overall mortgage market. Most buyers in our area are in good financial shape but they are still bound by lending regulations which are more stringent then in previous months.

Market Snapshot: Manhattan Beach ( click graph to enlarge)

Manhattan Beach: Market Snapshot June 25, 2007

Manhattan Beach: Market Snapshot June 2, 2007

Manhattan Beach: Market Snapshot May 6, 2007

Manhattan Beach: Market Snapshot April 23, 2007

South Bay/Beach Cities: SOLD.... June 2007

The Strand in Hermosa Beach


No question the local real estate market is slowing but then sales always slow in the summer. Last year at this time the South Bay/Beach Cities market was stalled.. as buyers just simply withdrew. I'm not seeing that this year as buyers are still coming to open houses and I'm getting a lot of inquiries from my websites.

The market is in a real pickle right now as Buyers continue looking closely at prices and wondering if Sellers are going to stand firmon listing prices for their homes or if there might be a little leeway as we hit mid year. Sellers, on the other hand, are wondering if Buyers will finally step up to the listed price or will continue to be selective about price. I suspect they will meet somewhere in the middle.


I know there are a number of sellers who don't want to officially lower the asking price but are hoping someone will make an offer to get things moving. No one wants to make the first move.. Reminds me of teens at a middle school dance.. girls on one side of the room and boys on the other while the music plays and plays.. each one is afraid to be the first on the floor.

I've added a new feature as requested by a lot of readers... The Sold price per sqft next to the median sold price. In another post I'll track if for single family homes in Manhattan Beach and later for all the Beach Cities. for the last few years. I've added it to the inventory list in my newsletter for listings found in the Market Conditions Report.

Beach Cities: Sold June 2007 ( click on the information to enlarge graphic)




Beach Cities: Sold June 2006

Beach Cities: Sold May 2007

Beach Cities: Sold April 2007

Beach Cities: Sold March 2007

Beach Cities: Sold February 2007

Beach Cities: Sold January 2007