Q2 2012 Manhattan Beach Home Sales vs Q2 2011

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Manhattan Beach Real Estate Reports 2nd Quarter 2012 Manhattan Beach home sales vs 2nd Quarter 2011: Manhattan Beach Real Estate conducted research on the Manhattan Beach real estate market from data on the MLS to compare the performance of Manhattan Beach homes for sale closed in Q2 2011 vs Q2 2012. Manhattan Beach Real Estate looked at 3 key factors of Manhattan Beach Real Estate as Manhattan Beach real estate market indicators: 1. Number of Manhattan Beach Houses for Sale that Closed in each time period: Q1 2011: Of all the Manhattan Beach homes for sale, 104 Manhattan Beach homes for sale closed. Q2 2012: Of all the Manhattan Beach homes for sale, 118 Manhattan Beach homes for sale closed. This represents an increase of 13.4% of Manhattan Beach homes for sale closed. 2. Average Days on the Market (DOM) it took for each Manhattan Beach house for sale to close: Q1 2011: Of all the Manhattan Beach houses for sale, the Manhattan Beach houses for sale that closed did so in an average of 82 DOM. Q2 2012: Of all the Manhattan Beach houses for sale, the Manhattan Beach houses for sale that closed did so in an average of 68 DOM. This represents a 20.5% quicker sales cycle for Manhattan Beach houses for sale to close in Q2 2012 over Q2 2011. 3. Median Price point achieved for the Manhattan Beach houses for sale: Q1 2011: The median price that a Manhattan Beach house for sale sold for was $1.550M Q2 2012: The median price that a Manhattan Beach house for sale sold for was $1.512M representing a 2.4% decrease in the median price point achieved amongst all the Manhattan Beach homes for sale. In summary, Manhattan Beach Real Estate believes this is positive news for the continued recovery of the Manhattan Beach real estate market. The Manhattan Beach real estate market is currently starved for inventory. At the date of this blog post, there were only 72 Manhattan Beach houses for sale available on the MLS. The median home price achieved for a home was statistically not significant at a slight decrease of 2.4% (probably due to the lower priced homes being in higher demand as more buyers of lower priced Manhattan Beach homes for sale need financing versus being cashed buyers). The increase of Manhattan Beach houses for sale closing increasing by 13.4% is statistically significant and the lower number of DOM by over 20% are both very strong compelling statistics that Manhattan Beach home buyers are back in the market in force. The perception of bottom in the Manhattan Beach real estate market has been out there for some time now, and buyers are now competing for limited Manhattan Beach homes for sale inventory leading to multiple offers and quick offers. Manhattan Beach schools and the unparalleled lifestyle and sense of community prevalent in Manhattan Beach continues to drive demand for Manhattan Beach real estate. Interest rates being at historically all time lows adds fuel to the fire. If you are interested in a free valuation of your Manhattan Beach home in today’s hot Manhattan Beach real estate market, or in finding the best possible Manhattan Beach home for sale in today’s hot Manhattan Beach real estate market to purchase, please contact Mitch Hagerman, Manhattan Beach Real Estate broker at 310-963-4358. posted: July 13, 2012 - Manhattan Beach Real Estate - Blog
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