Housing Inventory Remains Low in the Sand Section

Despite a one month uptick in new listings in the sand section of Manhattan Beach, it appears that there’s no real relief in sight as record low inventory continues.  There were 64 homes for sale in September of 2011 and as of 11/5/14 there are only 17 current active MLS listings.  To a certain extent that lack of inventory for the past 2 straight years has seen home prices rise dramatically.  The average sold home price in September 2011 was $1.736M and the average sales price just 2 years later was $2.864M…..a 65% increase.