Will Overpricing Help Slow the Manhattan Beach Market Down?

By Keith KyleTree-Section

I’ve noticed an early January trend in some of the local markets as many homes now seem to be listed at prices that recent sales just don’t seem to justify. Will this overpricing help slow the market down a little as we’re starting to see some homes sit on the market and even eventual price reductions.  At the moment there are a number of homes in Manhattan Beach that have been on the market for 45 days or longer.

We’ve seen the market increase in value dramatically in the past 12 months with values generally rising each month but since late November we seem to be seeing more homes priced well above the current market and well above the pricing trend. Only time will tell what 2014 has in store in the Beach Cities real estate market but as perception is such a real part of real estate, buyers now seeing homes sit on the market without selling may mark the beginning of a slow down.

About ktkyle

Keith Kyle is a long time resident of Hermosa Beach and a realtor since 2005. Having successfully started in real estate just as the market was declining rapidly, Keith has been a top agent at South Bay Brokers every year since 2007 and is one of the top buying and selling realtors in the South Bay.