Demand for Manhattan Beach Real Estate Increases in 2012 over 2011

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Manhattan Beach Real Estate reports on the key market data indicators for Manhattan Beach homes for sale closed in the first half of 2011 versus Manhattan Beach homes sold in the first half of 2012. 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. The number of Manhattan Beach houses for sale that closed escrow in the first half of 2012 versus the number of Manhattan Beach houses for sale that have closed escrow in the first half of 2012 is a reasonably positive difference. It says a lot for the continuing recovery and continued strengthening of the Manhattan Beach real estate market. Here are the relevant statistics: Number of Manhattan Beach homes for sale closed in the first half of 2011: 169 Manhattan Beach homes sold. Number of Manhattan Beach homes for sale closed in the first half of 2012: 177 Manhattan Beach houses sold. These statistics demonstrate a modest increase of 4.7% in the total number of Manhattan Beach homes for sale that closed escrow in the first half of 2012 over the first half of 2011 which is a modest increase in the number of Manhattan Beach real estate transactions closed. Average Days on the Market (DOM) for a Manhattan Beach house for sale to close in the first half of 2011: 89 Days on the Market Average Days on the Market (DOM) for a Manhattan Beach house for sale to close in the first half of 2012: 75 Days on the market. This represents a statistically significant 15.7% decrease in the number of days it took for Manhattan Beach homes for sale to close in the first half of 2012 than it took for Manhattan Beach homes for sale to close in the first half of 2011. 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 first half of 2011: $1.550 million dollars. The median price point achieved for Manhattan Beach homes closed in first half of 2012: $1.512 million dollars. These statistics represent a moderate decrease of 2.45% in the average price point achieved from all Manhattan Beach houses for sale from the first half of 2011 versus the first half of 2012 for Manhattan Beach houses closed. Since the lower interest rates prevalent today are fueling demand mostly in the lower end, it is not surprising that the median home prices fell somewhat. 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. The current Manhattan Beach real estate market is starved for inventory of homes with only 67 total single family Manhattan Beach houses for sale at present listed in the MLS. 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 posted: July 17, 2012 - Manhattan Beach Real Estate - Blog
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