By Keith Kyle
From just about every perspective, Manhattan Beach is the epicenter of real estate in the South Bay. The combination of great schools, small town charm, proximity to the airport and downtown (but not too close) and the hard to ignore reality that it’s become a very high “status” area make it the most sought after city in the area.
What this means is that home prices in Manhattan Beach impact the surrounding communities. As more buyers are priced out of Manhattan they often start searching in nearby Hermosa Beach…when that becomes too expensive they start looking in El Segundo, Redondo Beach real estate and the surrounding cities. This is pretty clearly indicated by the median home prices in each of the areas. Manhattan Beach saw a median home price of $2,075,000, with the median in Hermosa at $1,570,000, El Segundo at $1,151,000 and Redondo Beach near (exact numbers not available) $1,032,000. Each of the neighboring cities can offer fantastic neighborhoods and are great communities, but it’s clear that Manhattan Beach real estate is the driving force that impacts prices in the nearby communities and cities.