Manhattan Beach Real Estate reports 1st Quarter 2011 Manhattan Beach homes sold versus 2012

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Manhattan Beach Real Estate conducted market research on how many Manhattan Beach homes for sale closed in the first quarter of 2011 versus how many Manhattan Beach homes for sale closed in the first quarter of 2012. Here are the results of the Manhattan Beach real estate research: 2011: Out of all of the Manhattan Beach Homes for sale in the Manhattan Beach real estate market, 60 Manhattan Beach homes closed escrow in the first quarter of 2011. Of these sold Manhattan Beach homes, the average Manhattan Beach home was on the market for 103 days. The average Manhattan Beach house sold for $1.576 million. How did the Manhattan Beach real estate market comparing in the Q1 of 2012? Of all the single family Manhattan Beach houses for sale in the Manhattan Beach real estate market in the first quarter of 2012, 59 Manhattan Beach houses for sale sold in Q1 2012. Of all the sold Manhattan Beach houses for sale in the Manhattan Beach real estate market, the average Manhattan Beach house took 88 days to sell. The average price of the Manhattan Beach houses for sale that actually closed in Q1 of 2012 was $1.898 million. So what does this tell us about the state of the Manhattan Beach real estate market of Q1 2011 versus the Manhattan Beach real estate market in Q1 of 2012? The number of Manhattan Beach homes that sold were almost identical dropping from 60 Manhattan Beach homes sold in Q1 2011 to 59 Manhattan Beach homes sold in Q1 2012. This represents a drop in closed sales of Manhattan Beach homes for sale of only 1.6%. The average days on the market of the closed Manhattan Beach house sales out of all Manhattan Beach homes for sale dropped significantly from 103 days on the market to 88 days on the market on average. This is a 14.5% reduction on the days it took for these Manhattan Beach homes for sale being listed to these Manhattan Beach homes for sale closing. The average price achieved in Q1 2011 Manhattan Beach homes sold versus Q1 2012 Manhattan Beach homes sold rose significantly from $1.576 million to $1.898 million. This represents an approximate 20% increase in the price paid for Manhattan Beach houses in Q1 2011 versus Manhattan Beach houses purchased in Q1 2012. So what does this say about the Manhattan Beach real estate market in 2012 versus 2011? Mitch Hagerman of Manhtattan Beach Real Estate belives that most buyers perceive the Manhattan Beach real estate market has bottomed and perceive that prime communities such as Manhattan Beach are now on the rise. Perception becomes reality. The Manhattan Beach real estate market has always shown reslience in down turns in the economy as it is in a desirable beachfront location, it is close to LAX,and it has some of the highest ranked schools in the country which all lead to a strong sense of community amongst owners of Manhattan Beach homes. On top of this, interest rates are at historical lows making the monthly payments associated with owning Mahattan Beach real estate at an all time low. Further, the Manhattan Beach real estate market is starved for inventory of good homes. It is these omcbination of factors that we believe contributed to a similar number of homes sold. If there were more good Manhattan Beach homes for sale in the Manhattan Beach real estate inventory in 2012, Manhattan Beach Real Esate believes there would have been additional transactions. The fact that the current Manhattan Beach real estate market is starved for inventory did lead to significant reduction in the average days on the market it took for a Manhattan Beach home for sale to actually close and it has likely led to a significant increase in the average price of a Manhattan Beach house is selling for in 2012 versus 2011. If you would like to receive Manhattan Beach Real Estate market updates, please sign up on www.ManhattanBeachRealEstate.com to be included in our newsletter updates. For current information on the best Manhattan Beach homes for sale in the current Manhattan Beach real estate marketplace, contact Manhattan Beach real estate broker, Mitch Hagerman DRE#01897348 at 310-963-4358 or Mitch@ManhattanBeachRealEstate.com posted: June 29, 2012 - Manhattan Beach Real Estate - Blog
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