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What's Hot in MB Real Estate (3/12/16)

Mar 12, 2016 07:37AM ● Published by Jeanne Fratello

Something strange is afoot in Manhattan Beach real estate market, according to Manhattan Beach Confidential. There's plenty of inventory - more homes for sale than at any time in 3 years, in fact - but right now there are more listings making price cuts than new listings coming to market.

Specifically, in the 7-day period ending on March 10, ten new listings came to market in Manhattan Beach, but 15 homes for sale made price cuts. Seven of those 15 price-cutter listings actually made the cuts within their first month on the market. (Pictured above is new construction at 2409 N. Poinsettia, which cut $300K to $3.199M this week.)

This could be a sound strategy, notes MB Confidential, for those listings that don't want to "hang around" while more inventory is coming out.

MB Confidential has been reporting on the surge in inventory since the beginning of the year. As inventory continues to grow, the blog has added a new feature to the top of its popular "dashboard" monitoring local real estate activity: The top of the dashboard now displays the current number of homes for sale in Manhattan Beach. As of Friday, the number stood at a near-record 91 listings.

However, 27 of the 91 listings on the market in Manhattan Beach have taken price cuts at some point. That's nearly 30 percent of current listings.

The question for buyers is now: can they get better "deals" among the available homes for sale? Time will tell, as the busy spring season continues to unfold.

For the most comprehensive and up-to-date Manhattan Beach real estate news, visit www.mbconfidential.com.






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