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Manhattan Beach Smashes Real Estate Records

Oct 04, 2020 09:51AM ● By Dig Mb Staff

Source: Manhattan Beach Confidential

Manhattan Beach real estate is smashing records left and right, with a new high median price and a new record set for most closed sales in one month, according to MB Confidential.

 As Q3 came to an end, Manhattan Beach saw its highest-ever median home price at $2.550M. (That figure is calculated using a 12-month rolling data set.) It is also the second time this year that the median home price has hit a new high.

Additionally, there's a new record for most closed sales in one month. No single month going back to 2008 has seen more sales close in one month (60) than September 2020.

In fact, going back 13 years, there are only 5 months that even had 50 sales. September 2020 was the first to hit 60 sales over the past 153 months, according to Manhattan Beach Confidential.

"Instead of a sleepy summer, we had a summer that beat every spring selling season of the past several years," said Dave Fratello, broker at Edge Real Estate Agency and author of Manhattan Beach Confidential. "This year - really the past few months - have produced 3 of the top 10 months for closed sales in 13 years."

It's not too much of a surprise to see the data on higher levels of sales activity, added Fratello. "My office is busier right now than I can remember ever being," he said. "We have multiple properties in escrow, active listings, more coming. Most brokers I speak with say the same."

For additional information, see the Inventory list as of 9/30/20 here; and for an up-to-the-minute scorecard on new listings, new escrows, new closed deals, and new price cuts, visit the Manhattan Beach Confidential Dashboard.

Additionally, for additional insights into the market, to inquire about buying or selling properties, or to learn more about off-market inventory, contact Dave Fratello by email, or call (310) 243-6299.

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