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Manhattan Beach Real Estate Market Snapshot – May 2014

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By Keith Kyle

Manhattan Beach real estate….by the numbers

May marks the 5th straight month with an increase in available homes for sale in Manhattan Beach with 65 current MLS listings as of May 5th, 2014.  See information below on the current market trends including current MLS listings, recent sales, pending home sales and home prices in this luxury coastal community in Southern California.

Active Homes for Sale:  Current Median Home Price $2,050,000

Active Homes for Sale – 65 homes
List Price DOM BR BA Year Built SqFt Lot SqFt
Min 557,000 3 – 2 1.00 1921 812 1,350
Max 7,999,900 370 – 7 7.00 2014 10,001 15,001
Avg 2,618,445 37 – 4 3.80 1984 2,990 5,227

Pending and Backup

Homes Currently in Escrow with Pending or Backup Status – 48 Homes
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 905,000 – 1 1.00 1935 765 1,351
Max 12,875,000 355 – 6 7.00 2014 7,900 13,506
Avg 2,167,730 49 – 4 3.44 1980 2,799 5,025

Closed Home Sales in Past 30 Days (April 5th to May 4th)

47 Homes Sold/Closed Escrow 4/5 – 5/4
Single Family Residence – 44 total SFRs sold
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 990,000 950,000 1 1.00 1925 699 1,286
Max 8,950,000 204 8,100,000 6 10.00 2014 8,500 14,368
Avg 2,235,316 38 2,166,045 4 3.20 1972 2,653 4,993
 Townhomes and Condos – 3 Total Sales
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 1,299,000 8 1,450,000 2 3.00 1982 1,608 2,698
Max 2,299,000 33 2,100,000 3 4.00 2007 2,050 3,359
Avg 1,692,333 18 1,701,667 3 3.33 1992 1,878 2,921
All Home Sales – 47 Sold Homes
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 990,000 950,000 1 1.00 1925 699 1,286
Max 8,950,000 204 8,100,000 6 10.00 2014 8,500 14,368
Avg 2,200,657 37 2,136,404 3 3.21 1974 2,604 4,860

Home Inventory On the Rise in Manhattan Beach

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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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(all data current as of 1/21/2021)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Hermosa Beach Home Inventory Hits a 10 Year Low

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By Keith Kyle

If you’re a home buyer looking for a home in Hermosa Beach no doubt you’re frustrated.  Why is it so difficult to find a home in this coastal community?   The reason is simple….there are none.  That may be a slight exaggeration but not by much as December saw the fewest number of active listings in over 10 years.  Although January numbers were not reflected in the chart below as of this posting, the number of homes currently for sale in Hermosa as of January 28th is now down to 28 including all single family, townhome and condos.  With a market so favoring sellers, peak prices, multiple offers and more, it’s becoming difficult to understand why more owners are not listing and selling their homes.

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