Well, we seem to be a broken record on this theme, but the trend of extremely limited numbers of homes for sale in Manhattan Beach is continuing. As shown in the Basic Market Statistics chart at left, there are only 18 homes available for sale in Manhattan Beach, while 28 are in escrow or pending, and 14 more completed sales occurred. The two expired listings are also interesting — one was on the corner of Poinsettia and Rosecrans (3601 Poinsettia), always a challenging location, and the other was a town home in a really nice complex on 11th (1155 11th unit that was a bit overpriced and really hard to show. Moral of the story — price your home for its’ location and if you really want to sell your home, you have to let people see it!
I’ve also included this week’s Market Stats from Altos Research — as you can see, the lack of inventory is clearly showing its influence on median price. The Days on Market is affected by some really long DOM for some of the higher priced homes in Pending and Backup, so I wouldn’t take that increase too seriously. For the average Manhattan Beach buyer (which are still some of the wealthier Los Angeles county buyers!!!) the story is that there is little to buy and if you find a house you like a lot (or even that you like a little!) you’d better get a high offer in ASAP!