Another Big Month in Manhattan Beach Real Estate

By Keith Kyle612 John Street

January 2016 saw another impressive month of home sales and home prices in this luxury coastal community.  Althought median prices were down from the prior month, they were up from a year ago and demand continues to be strong.  Fewer new construction homes were sold this past month which has some concerned about the abundance of current and future new construction projects in Manhattan Beach.

Visit our sales page to see all of the recent home sales in Manhattan Beach and neighboring communities.

City Homes
Sold
January
2016 Median
January
2015 Median
Year
over Year % Change%
Carson 27 $415,000 $385,000 7.8%
El Segundo 8 $1,074,500 $799,000 34.5%
Gardena 28 $471,000 $399,000 18%
Harbor City 13 $500,000 $454,000 10.1%
Hawthorne 33 $457,000 $500,000 -8.5%
Hermosa Beach 10 $1,783,500 $1,680,000 6.2%
Lawndale 9 $450,000 $430,000 4.7%
Lomita 12 $420,000 $365,000 15.1%
Long Beach 241 $425,000 $406,000 4.7%
Manhattan Beach 22 $1,760,000 $1,675,000 5.1%
Marina Del Rey 16 $1497,000 $855,000 75.1%
Palos Verdes Estates 19 $1,272,000 $1,251,000 1.7%
Playa Del Rey 10 $574,000 $527,000 9.0%
Rancho Palos Verdes 38 $900,000 $1,015,000 -11.3%
Redondo Beach 66 $885,000 $802,000 10.3%
San Pedro 47 $465,000 $450,000 3.4%
Torrance 83 $632,000 $617,000 2.3%
Westchester 22 $880,000 $900,000 -2.2%

Average Home Sales Price Nearing $3,000,000 in Manhattan Beach

By Keith Kyle

1631 19th Street sold at $2.725M

1631 19th Street sold at $2.725M

The December numbers are in and if there was any thought that the real estate market in Manhattan Beach was leveling the numbers certainly say otherwise.

The average home price in Manhattan Beach for the homes that closed escrow during December was $2,766,567 with a median price of $2,184,000.  That’s a fairly incredible number that still shows no sign of slowing or reversing.   The reasons are the continued demand with a limited supply of new listings, combined with an abundance of new construction homes that are fetching record prices.  See the chart below for the December home sales numbers for Manhattan Beach and the South Bay for December of 2015.

City Homes
Sold
December
2015 Median
December
2014 Median
Year
over Year % Change
Carson  73 $360,000 $365,000 -1.4%
El Segundo 10 $949,000 $735,000 20.2
Gardena 41 $420,000 $385,000 9.1%
Harbor City 15 $483,000 $467,000 9.1%
Hawthorne 35 $508,500 $667,750 -23.8%
Hermosa Beach 24 $1,475,000 $1,360,000 8.5%
Lawndale 13 $420,000 $415,000 1.2%
Lomita 16 $520,000 $490,000 6.1%
Long Beach 339 $456,000 $395,000 15.4%
Manhattan Beach 34 $2,184,000 $1,689,000 29.3%
Marina Del Rey 31 $905,000 $759,000 19.2%
Palos Verdes Estates 29 $1,456,000 $1,150,000 26.7%
Playa Del Rey 17 $605,000 $482,000 25.5%
Rancho Palos Verdes 48 $1,170,000 $1,135,000 3.1%
Redondo Beach 89 $826,250 $770,000 7.3%
San Pedro 72 $517,500 $492,000 5.2%
Torrance 133 $597,000 $562,000 6.3%
Westchester 34 $951,000 $807,500 17.8%