By Keith Kyle
The South Bay saw another strong month for home prices although a few cities, Manhattan Beach included, saw big percentage drops in median home prices. Those numbers, especially in smaller cities, or in a month with fewer home sales, don’t really mean much, but taken over times gives a good indication as to what is happening in the local Manhattan Beach real estate market.
Manhattan Beach had a pretty slow month with with 22 home sales, which is slightly below the norm, but the number of closed sales has been trending down over the past few months. The median home price was below $2,000,000 for the first time in a while at just under $1,800,000 but doesn’t appear to indicate any trend and rather just the fact that most of the sales in February were resales and not new construction as well as fewer walkstreet and oceanfront homes that quickly drive up the monthly prices. Visit our Manhattan Beach real estate market trends section to see the various trends and statistics in Manhattan Beach.
over Year % Change%
|Marina Del Rey||25||$864,000||$1,335,000||-35%|
|Palos Verdes Estates||33||$1,403,000||$1,300,000||7.9%|
|Playa Del Rey||10||$626,000||$710,750||6.9%|
|Rancho Palos Verdes||26||$1,110,000||$1,039,000||6.9%|