Manhattan Beach Real Estate Mid-Year Market Update

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After Record Lows, Inventory of Homes for Sale Begins to Rise

The first four months of 2013 saw increased demand from buyers for Manhattan Beach real estate.  Spurred on by low mortgage interest rates and low, but increasing prices, buyers frequently faced multiple offer situations.  Inventory levels began the year at half the number of the January 2012, and by March they were down to less than a one month supply based on closed sales.   By the end of June, that number had risen to just under a two month supply.   For a buyer, that is still a low number of homes from which to choose, and buyers continue to face a seller’s market.  Through June sales prices average at or above asking prices.  There were 72 homes for sale ending June, 2013 compared to 95 last year, but the trend is toward that number increasing.

Manhattan Beach Homes for Sale, Sold and Pended Jan-June, 2013

Manhattan Beach Homes for Sale, Sold and Pended Jan-June, 2013

Manhattan Beach Homes for Sale, Sold and Pended Jan.-June 2012

Manhattan Beach Homes for Sale, Sold and Pended Jan.-June 2012