Manhattan Beach Houses For Sale

A month has passed since my last update on Manhattan Beach Houses for Sale

. In my post Redondo Beach February Home Sales, I suggested that home prices, which had been relatively flat compared to last year, might inch up a little given the encouraging escrow activity in late February. Sure enough, the escrows that closed this past month sufficiently boosted the median sale price for the first quarter up by just under six percent from the same time frame last year. The median price for all home types closing escrow last year was $640,000 on 135 sales.

This year, the number of closings has jumped to 172 and the median price has lifted as well, reaching $676,500. To add context to this within the beach cities, the median prices for the first quarter for Manhattan Beach and Hermosa Beach were $1.4 million and $1 million, respectively. An additional sign of encouragement for the area is the fact that there are 154 active escrows and the level of inventory has been holding its own at 236 or just over four month's worth. Price increases, however, have not been recognized in all of the sub-areas of Redondo Beach.

Of the eight sub-areas within Manhattan Beach Houses for Sale , six of them have had median price increases from last year. All of the areas have either maintained the number of closings or have had an increase from last year.

In the Villas North area of what many times is referred to as Manhattan Beach Houses for Sale, the number of closings jumped from 34 last year to 42 for the first quarter. This area is one of the two in the city that had a drop in values, though it was no more than a percent or so. The median sales price is just below $630,000 for all home types. Prices this quarter ranged from $284,000 for a small one bedroom condo on Artesia Blvd. to just over $1 million for a four bedroom single family home on Gates Ave. The price for the condo may very well be the lowest price for any type of home in the entire South Bay this past quarter.

by: sachinjarvis

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