The Reason You Can’t Find Your Home in Manhattan Beach

By Keith KyleManhattan Beach sand section homes

As most home buyers read about the market they have,  inevitably heard that inventory is down and that it is a “seller’s market” which is certainly the case but both may be a drastic understatement at the moment.  Inventory is at historic lows with both active homes for sale and sold homes being dramatically below the norm.  The chart below shows the past 5 years with monthly numbers indicating the number of homes active on the MLS (light green), the number of pending homes sales or homes in escrow (red line), and the number of homes sold or escrows closed (dark green) that month.

Manhattan Beach 5 Year Real Estate
The numbers are pretty staggering with February 2014 having only 26 closed sales and 36 current homes active on the market. Contrast that with February 2009 with only 25 closed escrows and 284 homes available for buyers and you’ll understand why buyers are willing to do just about anything and pay any price to get a home in this luxury coastal community. Due to low interest rates, and Manhattan Beach schools surpassing even their own record test scores, the demand for homes is as strong as ever.

Just Like This Crazy Weather….The Manhattan Beach Real Estate Market is Hot!

By Keith KyleInteriors

The only thing hotter than the 80 degree days we’ve seen so often in January is the real estate market along the coast.  The market seemed to slow just a bit and appeared to finally be calming down, but recent listings and sales indicate that we’re quickly back in frenzy mode.  Of my last two sales, both buyers were willing and happy to pay a premium if it meant the difference in getting an accepted offer.  Many recent home sales have been at, or over list price, even with the inflated list prices and as another realtor recently said “price was not an issue for her buyer” which makes for a challenging market for buyers trying to stay within a budget.  The information below is a brief overview of real estate in Manhattan Beach in the past 30 days.  The key information is to not that there are far more homes in escrow then active on the MLS with an almost equal number of closed sales to current listings.

Status: Active (18 Listings) See current homes for sale in Manhattan Beach
List Price ADOM Selling Price BR BA SqFt Lot SqFt
Avg $1,752,778 15 4 3.06 2,346 5,924
Sum 31,550,000
Status: Pending Sale (8  Listings)
List Price ADOM Selling Price BR BA SqFt Lot SqFt
Avg $1,444,125 33 3 2.75 1,851 4,330
Sum 11,553,000
Status: Backup Offer (16  Listings)
List Price ADOM Selling Price BR BA SqFt Lot SqFt
Avg $3,030,375 66 4 3.69 2,976 5,474
Sum 48,486,000
Status: Closed Sale (17  Listings) View recent Manhattan Beach home sales
List Price ADOM Selling Price BR BA SqFt Lot SqFt
Avg $2,107,588 39 2,097,926 4 3.76 2,829 4,664
Sum 35,829,000 35,664,750
Status: All (59 Total Listings)
List Price ADOM Selling Price BR BA SqFt Lot SqFt
Avg $2,159,627 38 2,097,926 4 3.39 2,589 5,223