By Keith Kyle
We may be finally seeing some relief from record low inventory in the luxury market of Manhattan Beach CA. Other than the peak summer months of 2013 we have seen record and near record lows for active homes for sale. As of May 5th there are currently 65 properties for sale in this coastal community which is a dramatic improvement over the record low 25 homes for sale in December. Although we’ve now seen 4 straight months of increases in the available homes on the market, inventory is still nowhere near recent year highs which saw over 300 homes for sale in 2009. Due to the duration of this low inventory, pent up demand has driven prices to peak levels and in some premier locations well beyond peak prices prior to the bubble years.
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