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Real Estate Sales Top $100M in Jan-Feb

Mar 08, 2019 08:52AM ● By Jeanne Fratello
Manhattan Beach real estate sales hit a sky-high peak in January and February of 2019, surpassing $100 million in total closed sales

Altogether, Manhattan Beach had 38 closed sales totaling $102.8 million for January and February, according to local real estate blog Manhattan Beach Confidential.

Data from Manhattan Beach Confidential show that this is only the third time that real estate sales hit the $100 million+ marker for January and February. (The other two years were 2018 and 2014.)

This year, 12 of the 38 sales were above the median price of $2.400 million from calendar year 2018. That stands in comparison to Jan./Feb. 2018, in which 18 of 40 sales were above the median price set the prior year, 2017 (with a $2.349 million median).

Additionally, this year, 6 closed sales were over $4M, while only 4 sales were over $4M in 2018.

So is that "real estate slump" really coming?

"What we're saying here is that Manhattan Beach is not showing obvious signs of slowing early this year," said Dave Fratello, real estate broker and author of Manhattan Beach Confidential.

"There's a lot of hand-wringing about how a slowdown is either happening or inevitable," continued Fratello, "but mostly so far, we're telling you the data aren't there yet, despite the buzz. If and when we can call a true change/reversal in the market, you know we will."

Fratello presented the data as part of his monthly market report published on the blog. 

Notable: This week, Manhattan Beach Confidential (our partner blog) celebrates its 12th birthday. Congratulations to Dave and MB Confidential for a dozen years' worth of insight, data, analysis, and a few chuckles.

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