While builders took significant losses during the downturn that started in 2006 and 2007, things have certainly turned around since then. Builders are clamoring for A+ locations in Manhattan Beach and have once again even started purchasing lots or tear down homes in less desirable locations. Almost regardless of location and lot size, two long term deterents, buyers are clamoring for new construction and builders can barely keep up.
Of the 16 homes built in 2014 or scheduled to be completed in 2014 that have sold or are in escrow they averaged only 20 days on market which is truly incredible. With a median price of just under $2.7M it’s not hard to see why builders are making every effort to tap into this incredible demand. These statistics are based only on the homes that went to market and many have been sold before even making it to the MLS as pocket listings and exclusive offerings.
The 5 current new construction homes come in with a median price of $4.7M.
With the coastal charm, proximity to downtown LA and Hollywood, almost perfect weather, and nationally ranked schools, Manhattan Beach has become an even higher demand market for the luxury home buyer.
If you are looking for both on market and off market new construction homes in Manhattan and Hermosa Beach contact us at any point.
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(all data current as of 1/20/2020)
Listing information deemed reliable but not guaranteed. Read full disclaimer.