Manhattan Beach Real Estate: 2013 Performance vs 2012

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Manhattan Beach Real Estate reports on the key market data indicators for Manhattan Beach homes for sale closed in the year of 2012 versus Manhattan Beach homes sold in the year of 2013.

Manhattan Beach Real Estate pulled all data regarding the number of closed Manhattan Beach houses for sale, average days on the market (DOM) and the median price achieved for the Manhattan Beach homes for sale in the two different time periods with data pulled from the Multiple Listing Service (MLS).

Number of Manhattan Beach homes for sale closed in 2012: 355

Number of Manhattan Beach homes for sale closed in 2013: 333

These statistics demonstrate a minor decrease of 6.6% in the total number of Manhattan Beach homes for sale that closed escrow in 2013 over those for sale that closed escrow in 2012. 

Average Days on the Market (DOM) for a Manhattan Beach house for sale to close in 2012: 71 Days on the market. 

Average Days on the Market (DOM) for a Manhattan Beach house for sale to close in 2013: 55 Days on the market.  

This represents a statistically significant 29% decrease in the number of days it took for Manhattan Beach homes for sale to close in the year of 2013 than it took for Manhattan Beach homes for sale to close in the year of 2012.  This is a clear sign to the demand for Manhattan Beach real estate being on the rise in combination with a low inventory of Manhattan Beach homes for sale in the Manhattan Beach real estate market.

The median price point achieved for Manhattan Beach homes closed in the year of 2012:  $1.455 million dollars.

The median price point achieved for Manhattan Beach homes closed in the year of 2013:  $1.725 million dollars.

These statistics represent a drastic increase of 18.5% in the average price point achieved from all Manhattan Beach houses for sale from the year of 2012 versus the year of 2013 for Manhattan Beach houses closed.
The current Manhattan Beach real estate market is starved for inventory of homes with only 24 total single-family Manhattan Beach houses for sale at present listed in the MLS.

Manhattan Beach Real Estate pulled all data regarding the number of closed Manhattan Beach houses for sale, average days on the market “DOM” and the median price achieved for the Manhattan Beach homes for sale in the two different time periods from the MLS.

All the market data pulled from the MLS researched by Manhattan Beach Real Estate shows a reasonable increase in the demand in the Manhattan Beach real estate market in combination with a limited supply and are good indicators of a stronger market for Manhattan Beach homes for sale. The Manhattan Beach real estate market generally achieved more closed Manhattan Beach homes for sale, with significantly less time required to sell down the already limited Manhattan Beach house inventory.

For questions about buying or selling a Manhattan Beach home, please contact the broker of Manhattan Beach Real Estate, Mitch Hagerman at 310-963-4358 and visit our website at www.ManhattanBeachRealEstate.com 

Best Regards,

Mitch Hagerman
Associate Broker
DRE#01897348
posted: January 28, 2014 - Manhattan Beach Real Estate - Blog
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