By Keith Kyle
Without question Manhattan Beach is a luxury home market with stunning homes, ideal locations, and award winning schools. As most of the original homes were built between the 1930s and 1960’s there have always been options for those trying to get in to the areas whether for the investment, or the schools. These “starter” homes, while often in good but original condition, offered buyers an option below $1,000,000. With the recent building boom, and builders and flippers buying everything they can get their hands on, that has all changed. Of the 42 homes sold in October, only one was listed and sold below $1,000,000 and even that was for a townhome in Manhattan Village. The days of sub $1,000,000 may just be a thing of the past and unfortunately that doesn’t bode well for many home buyers.