A Hot Summer for Manhattan Beach Real Estate
Aug 25, 2017 09:56AM
● By Jeanne Fratello
An analysis of local real estate data showed that the one-year period ending June 30 was the busiest in Manhattan Beach real estate since 2013, according to Dave Fratello, Realtor and author of Manhattan Beach Confidential.
Fratello also noted that there was a 17% jump in closed sales and a $100K increase in the median price to $2,200,000.
At the high end of the market, according to the analysis, the inventory of homes priced at or over $6.0M hit 22 listings - a figure where it remains today.
And at the highest end of the market, Manhattan Beach saw its second $20M sale this summer, just a few months after its first.
As of mid-August the the biggest bulge in inventory was in the Sand Section, where inventory rose to 61, compared with 38 last year (+61%).
Notable sales include two corner-lot non-walk-street homes in the South End Sand Section that both sold for big numbers ($6.510M and $5.675M, respectively).
In the Tree Section, a home on Oak just hit a new record high with a sale at $2.85M.
The Manhattan Beach dashboard currently shows 119 active listings in Manhattan Beach.