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Manhattan Beach Median Home Price Down 2% in 2019

Jan 10, 2020 09:23AM ● By Jeanne Fratello

Graphic via Manhattan Beach Confidential

What goes up... doesn't necessarily keep going up. The Manhattan Beach median home price was down 2% in 2019, the first such drop since 2009, according to Manhattan Beach Confidential.

Notably, there were "only" two sales over $10 million in Manhattan Beach in 2019, compared to five or more in previous years.

Nevertheless, the 2019 median home price represents just a 2% drop from 2018's record high of $2,400,000. 

Furthermore, the number is $2,000 higher than the 2017 high.

That means, even with this past year's mild drop, the median price still marked its second-highest year-end total ever, according to Dave Fratello, broker associate and founder at Edge Real Estate Agency, and author of Manhattan Beach Confidential.

Fratello points out that the median bounced around a bit before settling at this slightly lower point for the year. "Whatever's next, we do have a first for recent years: an actual drop in prices for Manhattan Beach," he said. 

For the full discussion, graphs, and data points, visit Manhattan Beach Confidential

To stay up to date on the latest listings, escrows, and price cuts, visit the famous MB Confidential dashboard.

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