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What's Hot in MB Real Estate (2/27/16)

Feb 27, 2016 08:39AM ● Published by Jeanne Fratello

This week's Manhattan Beach real estate update, courtesy of MB Confidential, is simple and dramatic: Inventory is booming, at one point double what it was at the same time last year.

At this time of year in 2015, there were
42 homes on the market. Friday, there were 83, effectively double last year's inventory. (And that's significantly higher than we've seen in years. In 2014 at this time, there were 33 homes for sale in Manhattan Beach, and in 2013, there were 45.)

"The way this year sticks out, it's almost like we're graphing a totally new category of data," says Dave Fratello of MB Confidential. "But it's 2016 that's different, not the type of data."

This trend has been taking shape since summer 2015. (See "Inventory Higher in 2015; Prices, Too.") And now, for the first time in recent memory, there's actually a healthy supply of homes in a couple of market categories: Sand Section townhomes and nice Tree Section family homes. Buyers finally have options.

Of course, there are more buyers active now, just as there are more homes available, because of the seasonal cycle. And there are still plenty of indicators that this is a seller's market and that prices continue to rise to new heights. (See, for example, "Bullish Start to 2016.")

But will buyers be able to leverage their feelings of choice into getting better deals among the available homes? As MB Confidential notes, a ballooning inventory trend is not a seller's friend.

For complete market updates, market trends, and the daily dashboard on Manhattan Beach real estate activity, visit MB Confidential.





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