Manhattan Beach Real Estate This Summer vs. Last Summer

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Manhattan Beach Real Estate for Sale:
2011 Summer Manhattan Beach Homes for Sale vs 2012

Manhattan Beach Real Estate researched data available to it from the MLS looking at key Manhattan Beach real estate market indicators to see how the Manhattan Beach real estate market in the Summer of 2011 compared to this last Summer of 2012.

Summer of 2011 Manhattan Beach Real Estate Market:
Number of Manhattan Beach Homes sold:  114 Manhattan Beach homes
Average Days on the Market:  34 Days for Manhattan Beach Homes for Sale to close on average
Average Price for Manhattan Beach Homes Sold:  $1.812M
Average Price per Square Foot of Manhattan Beach Homes Sold:  $646 / SF

Summer of 2012 Manhattan Beach Real Estate Market:
Number of Manhattan Beach Homes sold:  106 Manhattan Beach homes
Average Days on the Market:  57 Days for Manhattan Beach Homes for Sale to close on average
Average Price for Manhattan Beach Homes Sold:  $1.889M
Average Price per Square Foot of Manhattan Beach Homes Sold:  $661 / SF

Differences between 2011 and 2012 Summer Manhattan Beach Real Estate Market:
Number of Manhattan Beach Homes sold:  Down 7%
Average Days on the Market:  Up 67%
Average Price for Manhattan Beach Homes Sold:  Up 4.2%
Average Price per Square Foot of Manhattan Beach Homes Sold:  Up 2.3%


Manhattan Beach Real Estate believes the above data has a lot to do with the fact that the Manhattan Beach Real Estate market is starved for good Manhattan Beach House inventory.  There are currently only 55 Manhattan Beach homes for sale in the entire Manhattan Beach real estate market.  This is less than 2 months worth of inventory.  In our opinion, this would explain why there are less transactions (not a lot of Manhattan Beach homes for sale in the current market place), and it would also explain why the average price of a sold Manhattan Beach house as well as the sales price per square foot of a sold Manhattan Beach house both increased.   Consistent demand and very limited supply would explain these findings.
Please contact Manhattan Beach Real Estate broker, Mitch Hagerman at 310-963-4358 for any questions about the current Manhattan Beach real estate market and for any assistance in buying or selling Manhattan Beach properties.
Please also search all available Manhattan Beach homes for sale on our website:  www.ManhattanBeachRealEstate.com

Warm Regards,
Mitch Hagerman
Manhattan Beach Real Estate Broker
DRE #01897348
Mitch@ManhattanBeachRealEstate.com
310-963-4358 posted: September 14, 2012 - Manhattan Beach Real Estate - Blog
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