In this ultra hot market any sign that things are slowing down is big news. While the market is still very favorable for sellers we are noticing that many homes in the tree section of Manhattan Beach seem to be sitting on the market for a little longer. The current average for “active” listings (those not sold or in escrow) is 56. The number can be a bit misleading due to the fact the local MLS days on market continue to accrue if a home that is in escrow posts as “backup” status. The number of days on market has risen every month since August of 2014 with a slightly higher number in January. As inventory slowly rises the days on market will likely follow. See all of the latest Manhattan Beach real estate market trends at our updated statistic pages.
We posted several weeks ago that we had reached a new low in Manhattan Beach. 25 total active homes for sale which was the lowest point in a very long time. As of January 22nd that number had increased to 42 which is a very good sign that the year may have some homes available unlike much of 2014. We have seen a number of new listings during January which traditionally sees a nice increase once the holidays have wrapped up and people get back to work. The chart below shows the active listings in light green, the pending sales as a red line and the closed sales as a dark green line. Please feel free to contact us for more information on what is happening in the Manhattan Beach real estate market and where we see the market heading in 2015.