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		<title>Manhattan Beach Real Estate Sales Volume Way Up This April</title>
		<link>http://socalrea.com/2012/05/manhattan-beach-real-estate-sales-volume-way-up-this-april/</link>
		<comments>http://socalrea.com/2012/05/manhattan-beach-real-estate-sales-volume-way-up-this-april/#comments</comments>
		<pubDate>Tue, 15 May 2012 03:38:45 +0000</pubDate>
		<dc:creator>Manhattan Beach Observer</dc:creator>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Manhattan Beach]]></category>
		<category><![CDATA[Market Stats]]></category>

		<guid isPermaLink="false">http://socalrea.com/?p=1587</guid>
		<description><![CDATA[<p>It&#8217;s official: Spring buying season is treating the Manhattan Beach real estate market well. Monthly sales volume is nearly 30% higher than the monthly average for April, and median home prices are ticking higher. We&#8217;re still quite a way off from a new bull market, but all signs are pointing to a healthy real estate [...]</p><p>You just finished reading <a href="http://socalrea.com/2012/05/manhattan-beach-real-estate-sales-volume-way-up-this-april/">Manhattan Beach Real Estate Sales Volume Way Up This April</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></description>
			<content:encoded><![CDATA[<p>It&#8217;s official: Spring buying season is treating the Manhattan Beach real estate market well. Monthly sales volume is nearly 30% higher than the monthly average for April, and median home prices are ticking higher. We&#8217;re still quite a way off from a new bull market, but all signs are pointing to a healthy real estate market for our beautiful part of the world.</p>
<p>Here&#8217;s the big picture in chart form&#8230;</p>
<p>Monthly sales volume shows the amount of money pouring into the Manhattan Beach real estate market:</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-Monthly-Average-Sales-Volume-April-2012.png"><img class="alignleft size-full wp-image-1588" src="http://socalrea.com/files/2012/05/Manhattan-Beach-Monthly-Average-Sales-Volume-April-2012.png" alt="Manhattan Beach Monthly Average Sales Volume April 2012 Manhattan Beach Real Estate Sales Volume Way Up This April" width="590" height="397" title="Manhattan Beach Real Estate Sales Volume Way Up This April" /></a></p>
<p>Here you can see that after a pretty average Fall and Winter, sales volume is up sharply this Spring. Here&#8217;s another way of looking at the changes in volume relative to the averages:</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-Monthly-Sales-Volume-Compared-to-Average-April-2012.png"><img class="alignleft size-full wp-image-1589" src="http://socalrea.com/files/2012/05/Manhattan-Beach-Monthly-Sales-Volume-Compared-to-Average-April-2012.png" alt="Manhattan Beach Monthly Sales Volume Compared to Average April 2012 Manhattan Beach Real Estate Sales Volume Way Up This April" width="590" height="397" title="Manhattan Beach Real Estate Sales Volume Way Up This April" /></a></p>
<p>A total of 46 homes sold in April&#8211;39 being single family residences (SFR&#8217;s), 6 townhouses, and 1 condo:</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-Real-Estate-Market-Stats-April-2012.png"><img class="alignleft size-full wp-image-1590" src="http://socalrea.com/files/2012/05/Manhattan-Beach-Real-Estate-Market-Stats-April-2012.png" alt="Manhattan Beach Real Estate Market Stats April 2012 Manhattan Beach Real Estate Sales Volume Way Up This April" width="365" height="488" title="Manhattan Beach Real Estate Sales Volume Way Up This April" /></a></p>
<p>Since the number of homes sold every month is relatively low in Manhattan Beach compared to other real estate markets, summary statistics jump around all over the place. Here&#8217;s an article on how to interpret the <a title="Best Manhattan Beach Real Estate Statistics" href="http://socalrea.com/2012/05/best-manhattanbeach-real-estate-statistics/">Best Manhattan Beach Real Estate Statistics</a>, but check out this chart with median home prices to see the dilemma of just reporting monthly stats:</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-Median-Home-Prices-2008-to-present1.png"><img class="alignleft size-full wp-image-1591" src="http://socalrea.com/files/2012/05/Manhattan-Beach-Median-Home-Prices-2008-to-present1.png" alt="Manhattan Beach Median Home Prices 2008 to present1 Manhattan Beach Real Estate Sales Volume Way Up This April" width="590" height="397" title="Manhattan Beach Real Estate Sales Volume Way Up This April" /></a></p>
<p>To smooth out monthly fluctuations, which often don&#8217;t say much about actual longer term trends, we look at moving averages:</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-3-Month-Moving-Average-2008-to-present1.png"><img class="alignleft size-full wp-image-1592" src="http://socalrea.com/files/2012/05/Manhattan-Beach-3-Month-Moving-Average-2008-to-present1.png" alt="Manhattan Beach 3 Month Moving Average 2008 to present1 Manhattan Beach Real Estate Sales Volume Way Up This April" width="590" height="397" title="Manhattan Beach Real Estate Sales Volume Way Up This April" /></a></p>
<p>Another way to look at the long term trend is to take the 6-month moving average (or, in this case, the moving median):</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-6-Month-Moving-Average-2008-to-present1.png"><img class="alignleft size-full wp-image-1593" src="http://socalrea.com/files/2012/05/Manhattan-Beach-6-Month-Moving-Average-2008-to-present1.png" alt="Manhattan Beach 6 Month Moving Average 2008 to present1 Manhattan Beach Real Estate Sales Volume Way Up This April" width="590" height="397" title="Manhattan Beach Real Estate Sales Volume Way Up This April" /></a></p>
<p>In both cases, we see the median home price, as well as the median price per square foot, inching higher over the last two months.</p>
<p>&nbsp;</p>
<p>Since each of the <a title="Manhattan Beach real estate neighborhoods" href="http://socalrea.com/manhattan-beach-neighborhoods/">Manhattan Beach neighborhoods</a> is quite different, it&#8217;s often helpful to dig deeper into them separately.</p>
<p>Here&#8217;s a look at sales volume by Manhattan Beach neighborhood:</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-Real-Estate-Market-Volume-by-Section-April-2012.png"><img class="alignleft size-full wp-image-1594" src="http://socalrea.com/files/2012/05/Manhattan-Beach-Real-Estate-Market-Volume-by-Section-April-2012.png" alt="Manhattan Beach Real Estate Market Volume by Section April 2012 Manhattan Beach Real Estate Sales Volume Way Up This April" width="590" height="397" title="Manhattan Beach Real Estate Sales Volume Way Up This April" /></a></p>
<p>Median home price by section:</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-Real-Estate-Market-Median-Sales-Price-by-Section-April-2012.png"><img class="alignleft size-full wp-image-1595" src="http://socalrea.com/files/2012/05/Manhattan-Beach-Real-Estate-Market-Median-Sales-Price-by-Section-April-2012.png" alt="Manhattan Beach Real Estate Market Median Sales Price by Section April 2012 Manhattan Beach Real Estate Sales Volume Way Up This April" width="590" height="397" title="Manhattan Beach Real Estate Sales Volume Way Up This April" /></a></p>
<p>And finally, normalizing by the living area of each property, we calculate median home price by square foot:</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-Real-Estate-Market-Median-Sales-Price-per-Square-Foot-by-Section-April-2012.png"><img class="alignleft size-full wp-image-1596" src="http://socalrea.com/files/2012/05/Manhattan-Beach-Real-Estate-Market-Median-Sales-Price-per-Square-Foot-by-Section-April-2012.png" alt="Manhattan Beach Real Estate Market Median Sales Price per Square Foot by Section April 2012 Manhattan Beach Real Estate Sales Volume Way Up This April" width="590" height="397" title="Manhattan Beach Real Estate Sales Volume Way Up This April" /></a></p>
<p>Here’s a spreadsheet with last month’s <a title="Free Manhattan Beach real estate sales data April 2012" href="http://socalrea.com/files/2012/05/Monthly-Market-Update-Data-Apr12-Sales-flat-file-for-distro.xlsx">Manhattan Beach real estate data</a> from MLS, including all closed sales for single family residences, townhouses, and condominiums.</p>
<p>To browse through what’s currently on the market, check out these <a title="Current Manhattan Beach real estate listings" href="http://socalrea.com/idx/city/manhattan-beach/?idx-q-PropertyTypes=All">Manhattan Beach home listings</a>, or check out what we have available now with <a title="NW Real Estate Listings Homes For Sale" href="http://socalrea.com/idx/?idx-q-ListingOfficeID=s5196">NW’s real estate listings</a>. Contact a <a title="Contact Manhattan Beach Realtor" href="http://socalrea.com/contact/">Manhattan Beach Realtor</a>with questions about any listing.</p>
<p>If you like this article, sign up to get the next one → <strong><a href="http://eepurl.com/et5HQ">Subscribe to our newsletter</a> </strong>and our <strong><a title="socal real estate RSS feed" href="http://feeds.feedburner.com/socalrea">RSS feed</a>! Subscribing is a great way to learn about our market before making a buying, or selling decision.</strong></p>
<p>You just finished reading <a href="http://socalrea.com/2012/05/manhattan-beach-real-estate-sales-volume-way-up-this-april/">Manhattan Beach Real Estate Sales Volume Way Up This April</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></content:encoded>
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		<title>Best Manhattan Beach Real Estate Statistics</title>
		<link>http://socalrea.com/2012/05/best-manhattanbeach-real-estate-statistics/</link>
		<comments>http://socalrea.com/2012/05/best-manhattanbeach-real-estate-statistics/#comments</comments>
		<pubDate>Thu, 10 May 2012 01:19:32 +0000</pubDate>
		<dc:creator>Manhattan Beach Observer</dc:creator>
				<category><![CDATA[Blog]]></category>
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		<category><![CDATA[Market Stats]]></category>
		<category><![CDATA[manhattan beach median home price]]></category>
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		<guid isPermaLink="false">http://socalrea.com/?p=1574</guid>
		<description><![CDATA[<p>I&#8217;m a Manhattan Beach Realtor®, and this is my confession: When it comes to measuring real estate market statistics, few in my profession know what they&#8217;re doing. I have degrees in Mathematics, Physics, and Finance; I&#8217;ve worked for years as an economic consultant, and yet I still find myself scratching my head trying to make [...]</p><p>You just finished reading <a href="http://socalrea.com/2012/05/best-manhattanbeach-real-estate-statistics/">Best Manhattan Beach Real Estate Statistics</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></description>
			<content:encoded><![CDATA[<p>I&#8217;m a Manhattan Beach Realtor®, and this is my confession: When it comes to measuring real estate market statistics, few in my profession know what they&#8217;re doing. I have degrees in Mathematics, Physics, and Finance; I&#8217;ve worked for years as an economic consultant, and yet I still find myself scratching my head trying to make sense of Manhattan Beach real estate statistics.</p>
<p>Have you ever noticed that real estate statistics seem to change depending on whose reporting them, and what their incentives might be? I&#8217;ll be the first to admit how tough it is to figure out the best way to calculate good stats. Do you use average or median home prices? And should we calculate those on the nominal sale prices, or should we look at prices per square foot to normalize for differences in dwelling sizes?</p>
<p>The story gets even tougher for Manhattan Beach real estate statistics. Our market rarely has more than 40 to 50 homes sold in any given month, and what does sell can vary wildly depending on the part of town, the neighborhood, whether the property is the original 1950&#8242;s structure, or a modern rebuild. Few properties in Manhattan Beach are cookie cutter track homes like you might find in other areas of the South Bay.</p>
<p>Let&#8217;s start from the beginning&#8230;</p>
<h3>Median Home Prices are Better Than Average Prices</h3>
<p>The first thing you should know about real estate stats is that calculating the <em><strong>median home price</strong></em> tells much more about your market than the average price. Here&#8217;s a good wiki page on <a title="Real Estate Pricing Median Home Price Explanation" href="http://en.wikipedia.org/wiki/Real_estate_pricing">real estate pricing</a> if you want more detail, but the basics are that unless you have a large homogeneous data set you&#8217;re going to have some homes way above average (luxury), and some way below (distressed homes); an average calculation will give undue weighting to data points farther from the central tendency.</p>
<p>A median price calculation considers each home as a single ranked data point, regardless of its distance from the central tendency. Check out this wiki page if you want a refresher on calculating a <a title="Median Wiki Page" href="http://en.wikipedia.org/wiki/Median">median</a> price.</p>
<h3>Moving Averages Are Better Than Monthly Statistics</h3>
<p>One way statisticians reduce short term fluctuations is by using <a title="Moving Averages" href="http://en.wikipedia.org/wiki/Moving_average">moving averages</a>. By combining several periods worth of data into a single calculation, we&#8217;re able to analyze changes over time without as much near term variability.</p>
<p>Just looking at the following median home price chart illustrates our dilemma:</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-Median-Home-Prices-2008-to-present.png"><img class="alignleft size-full wp-image-1575" src="http://socalrea.com/files/2012/05/Manhattan-Beach-Median-Home-Prices-2008-to-present.png" alt="Manhattan Beach Median Home Prices 2008 to present Best Manhattan Beach Real Estate Statistics" width="590" height="397" title="Best Manhattan Beach Real Estate Statistics" /></a></p>
<p>Calculated on a monthly basis, Manhattan Beach real estate statistics look like noise. In fact, the <a title="Standard Deviation Explained" href="http://en.wikipedia.org/wiki/Standard_deviation">standard deviation</a> of monthly changes is about 20% for the nominal home price, and 12% for price per square foot.</p>
<p>Combining a few months worth of data together and then calculating the median starts to smooth out the curve:</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-3-Month-Moving-Average-2008-to-present.png"><img class="alignleft  wp-image-1577" src="http://socalrea.com/files/2012/05/Manhattan-Beach-3-Month-Moving-Average-2008-to-present.png" alt="Manhattan Beach 3 Month Moving Average 2008 to present Best Manhattan Beach Real Estate Statistics" width="590" height="397" title="Best Manhattan Beach Real Estate Statistics" /></a></p>
<p>The standard deviation between periods drops to 8.5% for the nominal prices, and 5.7% for the price per square foot. That&#8217;s a huge difference compared to the regular monthly prices!</p>
<p>The story gets even better when we calculate the 6-month moving average:</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-6-Month-Moving-Average-2008-to-present.png"><img class="alignleft size-full wp-image-1578" src="http://socalrea.com/files/2012/05/Manhattan-Beach-6-Month-Moving-Average-2008-to-present.png" alt="Manhattan Beach 6 Month Moving Average 2008 to present Best Manhattan Beach Real Estate Statistics" width="590" height="397" title="Best Manhattan Beach Real Estate Statistics" /></a></p>
<p>The 6-Month moving average drops standard deviation to under 4% for nominal prices, and only 2.1% for price per square foot. Here&#8217;s a summary of the variability stats:</p>
<p><a href="http://socalrea.com/files/2012/05/Manhattan-Beach-Moving-Average-Variability-Stats.png"><img class="alignnone size-full wp-image-1579" src="http://socalrea.com/files/2012/05/Manhattan-Beach-Moving-Average-Variability-Stats.png" alt="Manhattan Beach Moving Average Variability Stats Best Manhattan Beach Real Estate Statistics"  title="Best Manhattan Beach Real Estate Statistics" /></a></p>
<h3></h3>
<h3></h3>
<h3>Pay Attention To Price Per Square Foot</h3>
<p>Finally, we have to consider that two homes right next to each other often vary in price simply because they vary in size. The best way to normalize for this is to divide the sales price by the square feet of the structure, which yields the infamous price per square foot.</p>
<p>Referencing the variability stats above shows a clear example of how price per square foot significantly reduces fluctuations. In the cases above, the price per square foot calculations demonstrated about 40% less short term fluctuation than the nominal home prices.</p>
<h3>Putting It All Together</h3>
<p>For all you Manhattan Beach home buyers, real estate agents, or brokers, just follow this simple recipe for interpreting sales data:</p>
<ol>
<li>Use the median home price, not the average</li>
<li>Look for trends by analyzing the 6-month moving median</li>
<li>Pay attention to prices per square foot, not just nominal home values</li>
</ol>
<div>I hope this has been useful! If you like this article, sign up to get the next one → <strong><a href="http://eepurl.com/et5HQ">Subscribe to our newsletter</a> </strong>and our <strong><a title="socal real estate RSS feed" href="http://feeds.feedburner.com/socalrea">RSS feed</a>!</strong></div>
<p>To browse through what’s currently on the market, check out these <a title="Current Manhattan Beach real estate listings" href="http://socalrea.com/idx/city/manhattan-beach/?idx-q-PropertyTypes=All">Manhattan Beach home listings</a>, or check out what we have available now with <a title="NW Real Estate Listings Homes For Sale" href="http://socalrea.com/idx/?idx-q-ListingOfficeID=s5196">NW’s real estate listings</a>. Contact a <a title="Contact Manhattan Beach Realtor" href="http://socalrea.com/contact/">Manhattan Beach Realtor</a>with questions about any listing.</p>
<p>You just finished reading <a href="http://socalrea.com/2012/05/best-manhattanbeach-real-estate-statistics/">Best Manhattan Beach Real Estate Statistics</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></content:encoded>
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		<title>March Madness for Manhattan Beach Real Estate</title>
		<link>http://socalrea.com/2012/04/march-madness-for-manhattan-beach-real-estate/</link>
		<comments>http://socalrea.com/2012/04/march-madness-for-manhattan-beach-real-estate/#comments</comments>
		<pubDate>Tue, 24 Apr 2012 02:45:06 +0000</pubDate>
		<dc:creator>Manhattan Beach Observer</dc:creator>
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		<guid isPermaLink="false">http://socalrea.com/?p=1552</guid>
		<description><![CDATA[<p>Spring buying season hit the Manhattan Beach real estate market with full force. March home sales blew the historical average out of the water by almost 50 percent! Total sales volume came in at $77.6 million last month, versus a four year historical March average of $52.0 million. That&#8217;s a big deal. Here are a [...]</p><p>You just finished reading <a href="http://socalrea.com/2012/04/march-madness-for-manhattan-beach-real-estate/">March Madness for Manhattan Beach Real Estate</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></description>
			<content:encoded><![CDATA[<p><a href="http://socalrea.com/files/2012/04/manhattan-beach-bull-market.gif"><img class="alignleft size-thumbnail wp-image-1553" src="http://socalrea.com/files/2012/04/manhattan-beach-bull-market-150x150.gif" alt="manhattan beach bull market 150x150 March Madness for Manhattan Beach Real Estate" width="150" height="150" title="March Madness for Manhattan Beach Real Estate" /></a></p>
<p>Spring buying season hit the Manhattan Beach real estate market with full force. March home sales blew the historical average out of the water by almost 50 percent! Total sales volume came in at $77.6 million last month, versus a four year historical March average of $52.0 million. That&#8217;s a big deal.</p>
<p>Here are a couple charts that give a visual for this blow out:</p>
<p><a href="http://socalrea.com/files/2012/04/Manhattan-Beach-Monthly-Home-Sales-Average-March-2012.png"><img class="alignleft size-full wp-image-1554" src="http://socalrea.com/files/2012/04/Manhattan-Beach-Monthly-Home-Sales-Average-March-2012.png" alt="Manhattan Beach Monthly Home Sales Average March 2012 March Madness for Manhattan Beach Real Estate" width="590" height="397" title="March Madness for Manhattan Beach Real Estate" /></a></p>
<p>Looking at the trend line:</p>
<p><a href="http://socalrea.com/files/2012/04/Manhattan-Beach-Home-Sales-Volume-Trend-March-2012.png"><img class="alignleft size-full wp-image-1555" src="http://socalrea.com/files/2012/04/Manhattan-Beach-Home-Sales-Volume-Trend-March-2012.png" alt="Manhattan Beach Home Sales Volume Trend March 2012 March Madness for Manhattan Beach Real Estate" width="590" height="397" title="March Madness for Manhattan Beach Real Estate" /></a></p>
<p>Here&#8217;s how the stats came in:</p>
<p><a href="http://socalrea.com/files/2012/04/Manhattan-Beach-Real-Estate-Home-Sales-Statistics-March-2012.png"><img class="alignleft size-full wp-image-1560" src="http://socalrea.com/files/2012/04/Manhattan-Beach-Real-Estate-Home-Sales-Statistics-March-2012.png" alt="Manhattan Beach Real Estate Home Sales Statistics March 2012 March Madness for Manhattan Beach Real Estate" width="262" height="394" title="March Madness for Manhattan Beach Real Estate" /></a></p>
<p>Over the prior month, total market volume surged $55 million and the number of closed sales went from 14 to 45. Median sales came in at a nominal $1,352,000, almost $600 per square foot. Homes remained on market for an average of 40 days longer than those that sold in February.</p>
<p>Here’s a spreadsheet with last month’s <a title="Free MLS Data Manhattan Beach Real Estate March 2012" href="http://socalrea.com/files/2012/04/Manhattan-Beach-Real-Estate-Market-Sales-Data-March-2012.xlsx">Manhattan Beach real estate data</a> from MLS, including all closed sales for single family residences, townhouses, and condominiums.</p>
<p>To browse through what’s currently on the market, check out these <a title="Current Manhattan Beach real estate listings" href="http://socalrea.com/idx/city/manhattan-beach/?idx-q-PropertyTypes=All">Manhattan Beach home listings</a>, or check out what we have available now with <a title="NW Real Estate Listings Homes For Sale" href="http://socalrea.com/idx/?idx-q-ListingOfficeID=s5196">NW’s real estate listings</a>. Contact a <a title="Contact Manhattan Beach Realtor" href="http://socalrea.com/contact/">Manhattan Beach Realtor</a>with questions about any listing.</p>
<p>Here’s are some charts breaking out sales volume, median sale prices, and median prices by square foot for each of the Manhattan Beach real estate sections:</p>
<p><a href="http://socalrea.com/files/2012/04/Manhattan-Beach-Real-Estate-Sales-Volume-by-Section-March-2012.png"><img class="alignleft size-full wp-image-1566" src="http://socalrea.com/files/2012/04/Manhattan-Beach-Real-Estate-Sales-Volume-by-Section-March-2012.png" alt="Manhattan Beach Real Estate Sales Volume by Section March 2012 March Madness for Manhattan Beach Real Estate" width="590" height="397" title="March Madness for Manhattan Beach Real Estate" /></a></p>
<p><a href="http://socalrea.com/files/2012/04/Manhattan-Beach-Real-Estate-Median-Home-Price-by-Section-March-2012.png"><img class="alignleft size-full wp-image-1567" src="http://socalrea.com/files/2012/04/Manhattan-Beach-Real-Estate-Median-Home-Price-by-Section-March-2012.png" alt="Manhattan Beach Real Estate Median Home Price by Section March 2012 March Madness for Manhattan Beach Real Estate" width="590" height="397" title="March Madness for Manhattan Beach Real Estate" /></a></p>
<p><a href="http://socalrea.com/files/2012/04/Manhattan-Beach-Real-Estate-Median-Home-Price-per-Square-Foot-by-Section-March-2012.png"><img class="alignleft size-full wp-image-1568" src="http://socalrea.com/files/2012/04/Manhattan-Beach-Real-Estate-Median-Home-Price-per-Square-Foot-by-Section-March-2012.png" alt="Manhattan Beach Real Estate Median Home Price per Square Foot by Section March 2012 March Madness for Manhattan Beach Real Estate" width="590" height="397" title="March Madness for Manhattan Beach Real Estate" /></a></p>
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<p>You just finished reading <a href="http://socalrea.com/2012/04/march-madness-for-manhattan-beach-real-estate/">March Madness for Manhattan Beach Real Estate</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></content:encoded>
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		<title>A Very Normal February For Manhattan Beach Real Estate</title>
		<link>http://socalrea.com/2012/03/a-very-normal-february-for-manhattan-beach-real-estate/</link>
		<comments>http://socalrea.com/2012/03/a-very-normal-february-for-manhattan-beach-real-estate/#comments</comments>
		<pubDate>Tue, 13 Mar 2012 03:50:59 +0000</pubDate>
		<dc:creator>manhattanbeachrealtor</dc:creator>
				<category><![CDATA[Blog]]></category>
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		<guid isPermaLink="false">http://socalrea.com/?p=1516</guid>
		<description><![CDATA[<p>February sales volume almost exactly matched expectations, with 19 homes selling for a combined $28.0 million, compared to a seasonal average of $27.8 million. Median home price came in at $1,625,000, or $555 per square foot, and homes took an average of 89 days on market before selling. Median sales price, however, is up an [...]</p><p>You just finished reading <a href="http://socalrea.com/2012/03/a-very-normal-february-for-manhattan-beach-real-estate/">A Very Normal February For Manhattan Beach Real Estate</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></description>
			<content:encoded><![CDATA[<p><a href="http://socalrea.com/files/2012/03/301-16th-St-Manhattan-Beach-CA-90266-Sand-Section.jpg"><br />
<img class="alignleft" src="http://socalrea.com/files/2012/03/301-16th-St-Manhattan-Beach-CA-90266-Sand-Section-150x150.jpg" alt="301 16th St Manhattan Beach CA 90266 Sand Section 150x150 A Very Normal February For Manhattan Beach Real Estate" width="150" height="150" title="A Very Normal February For Manhattan Beach Real Estate" /></a>February sales volume almost exactly matched expectations, with 19 homes selling for a combined $28.0 million, compared to a seasonal average of $27.8 million. Median home price came in at $1,625,000, or $555 per square foot, and homes took an average of 89 days on market before selling. <em>Median sales price, however, is up an incredible 19 percent from the same time last year.</em></p>
<p>Of the 19 sales, 14 were single family homes, the other 5 being townhouses. The single family homes had a median sale price of $1,730,000 ($547 per square foot), while the townhouses came in at a median of $1,010,000 ($620 per square foot).</p>
<p>Here’s a snapshot of monthly sales volume, and how we’ve been doing over the last 12 months compared to historical averages:</p>
<p><a href="http://socalrea.com/files/2012/03/Feb12-Monthly-Sales-Volume.png"><img class="alignleft  wp-image-1521" src="http://socalrea.com/files/2012/03/Feb12-Monthly-Sales-Volume.png" alt="Feb12 Monthly Sales Volume A Very Normal February For Manhattan Beach Real Estate" width="590" height="397" title="A Very Normal February For Manhattan Beach Real Estate" /></a></p>
<p>Here&#8217;s a graph of how sales volume has trended over the last 12 months:</p>
<p><a href="http://socalrea.com/files/2012/03/Manhattan-Beach-Real-Estate-Sales-Volume-Trend-Feb12.png"><img class="alignleft size-full wp-image-1526" src="http://socalrea.com/files/2012/03/Manhattan-Beach-Real-Estate-Sales-Volume-Trend-Feb12.png" alt="Manhattan Beach Real Estate Sales Volume Trend Feb12 A Very Normal February For Manhattan Beach Real Estate" width="590" height="397" title="A Very Normal February For Manhattan Beach Real Estate" /></a></p>
<p>Considering that sales volume fell 43 percent below average in February 2011, the fact that volume last month was 1 percent above average bodes well for 2012. If history is a guide, we should start to see increasing volume as we enter the Spring buying season. Last year, we saw volume levels increase starting in April, then soaring through the summer.</p>
<p><a href="http://socalrea.com/files/2012/03/Feb12-Manhattan-Beach-Real-Estate-Statistics1.png"><img class="alignleft size-full wp-image-1529" src="http://socalrea.com/files/2012/03/Feb12-Manhattan-Beach-Real-Estate-Statistics1.png" alt="Feb12 Manhattan Beach Real Estate Statistics1 A Very Normal February For Manhattan Beach Real Estate" width="262" height="394" title="A Very Normal February For Manhattan Beach Real Estate" /></a></p>
<p>The 14 single family homes sold for a median price of $1,730,000 ($547 per square foot), after an average of 78 days on market. The 5 townhouses sold for a median price of $1,010,000 ($620 per square foot) after an average of 119 days on market.</p>
<p>Here&#8217;s a spreadsheet with last month&#8217;s <a title="Free MLS Data Manhattan Beach Real Estate" href="http://socalrea.com/files/2012/03/Manhattan-Beach-Real-Estate-Closed-Sales-MLS-Feb12.xlsx">Manhattan Beach real estate data</a> from MLS, including all closed sales for single family residences, townhouses, and condominiums.</p>
<p>To browse through what&#8217;s currently on the market, check out these <a title="Current Manhattan Beach real estate listings" href="http://socalrea.com/idx/city/manhattan-beach/?idx-q-PropertyTypes=All">Manhattan Beach home listings</a>, or check out what we have available now with <a title="NW Real Estate Listings Homes For Sale" href="http://socalrea.com/idx/?idx-q-ListingOfficeID=s5196">NW&#8217;s real estate listings</a>. Contact a <a title="Contact Manhattan Beach Realtor" href="http://socalrea.com/contact/">Manhattan Beach Realtor</a> with questions about any listing.</p>
<p>Here&#8217;s are some charts breaking out sales volume, median sale prices, and median prices by square foot for each of the Manhattan Beach real estate sections:</p>
<p><a href="http://socalrea.com/files/2012/03/Feb12-Manhattan-Beach-Sales-Volume-by-Section.png"><img class="alignleft size-full wp-image-1530" src="http://socalrea.com/files/2012/03/Feb12-Manhattan-Beach-Sales-Volume-by-Section.png" alt="Feb12 Manhattan Beach Sales Volume by Section A Very Normal February For Manhattan Beach Real Estate" width="590" height="379" title="A Very Normal February For Manhattan Beach Real Estate" /></a></p>
<p><a href="http://socalrea.com/files/2012/03/Feb12-Manhattan-Beach-Median-Price-by-Section.png"><img class="alignleft size-full wp-image-1532" src="http://socalrea.com/files/2012/03/Feb12-Manhattan-Beach-Median-Price-by-Section.png" alt="Feb12 Manhattan Beach Median Price by Section A Very Normal February For Manhattan Beach Real Estate" width="590" height="379" title="A Very Normal February For Manhattan Beach Real Estate" /></a></p>
<p><a href="http://socalrea.com/files/2012/03/Feb12-Manhattan-Beach-Median-Price-by-square-foot-by-section.png"><img class="alignleft size-full wp-image-1533" src="http://socalrea.com/files/2012/03/Feb12-Manhattan-Beach-Median-Price-by-square-foot-by-section.png" alt="Feb12 Manhattan Beach Median Price by square foot by section A Very Normal February For Manhattan Beach Real Estate" width="590" height="379" title="A Very Normal February For Manhattan Beach Real Estate" /></a></p>
<h2></h2>
<h2>Bottom Line</h2>
<p>Both sales volume and median sales price are significantly improved from the same time last year. We are still likely years away from another real estate bull market in Southern California, but the sky has stopped falling and all signs point to better times ahead.</p>
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		<title>All Quiet On The Western Front</title>
		<link>http://socalrea.com/2012/02/all-quiet-on-the-western-front/</link>
		<comments>http://socalrea.com/2012/02/all-quiet-on-the-western-front/#comments</comments>
		<pubDate>Mon, 06 Feb 2012 16:03:26 +0000</pubDate>
		<dc:creator>Manhattan Beach Observer</dc:creator>
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		<guid isPermaLink="false">http://socalrea.com/?p=1371</guid>
		<description><![CDATA[<p>January is usually a slow month for Manhattan Beach real estate. This January we saw 16 closed sales worth a total of $31.9 million. Compared to historical sales volume, we actually exceeded the monthly average by 3 percent. Median price per square foot was up 5.7 percent over the last month, and 2.3 percent compared [...]</p><p>You just finished reading <a href="http://socalrea.com/2012/02/all-quiet-on-the-western-front/">All Quiet On The Western Front</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></description>
			<content:encoded><![CDATA[<p><a href="http://socalrea.com/files/2012/02/IMG_0655.jpg"><img class="alignleft size-thumbnail wp-image-1372" src="http://socalrea.com/files/2012/02/IMG_0655-150x150.jpg" alt="IMG 0655 150x150 All Quiet On The Western Front" width="150" height="150" title="All Quiet On The Western Front" /></a></p>
<p>January is usually a slow month for Manhattan Beach real estate. This January we saw 16 closed sales worth a total of $31.9 million. Compared to historical sales volume, we actually exceeded the monthly average by 3 percent. Median price per square foot was up 5.7 percent over the last month, and 2.3 percent compared to January, 2011. Highlights for the month include a Strand sale for $9.25 million, and two properties selling for under $700 thousand. Manhattan Beach has something for everyone! Well, that is, everyone with at least a couple hundred thousand in savings, and well over $100,000 in household income&#8230;</p>
<p>An interesting note is that 1/4 of all Manhattan Beach sales last month were <em><strong>all cash</strong></em> purchases.</p>
<p>Here&#8217;s a snapshot of monthly sales volume, and how we&#8217;ve been doing over the last 12 months compared to historical averages:</p>
<p><a href="http://socalrea.com/files/2012/02/Manhattan-Beach-Monthly-Sales-Volume-Averages.png"><img class="alignleft  wp-image-1373" src="http://socalrea.com/files/2012/02/Manhattan-Beach-Monthly-Sales-Volume-Averages.png" alt="Manhattan Beach Monthly Sales Volume Averages All Quiet On The Western Front" width="590" height="397" title="All Quiet On The Western Front" /></a></p>
<p>All statistics need to be analyzed in context, so here&#8217;s a graph of how sales volume has trended over the last twelve months:</p>
<p><a href="http://socalrea.com/files/2012/02/Manhattan-Beach-Monthly-Sales-Volume-Trend.png"><img class="alignleft  wp-image-1376" src="http://socalrea.com/files/2012/02/Manhattan-Beach-Monthly-Sales-Volume-Trend.png" alt="Manhattan Beach Monthly Sales Volume Trend All Quiet On The Western Front" width="590" height="397" title="All Quiet On The Western Front" /></a></p>
<p>The way to interpret this chart is to see that 8 of the last 12 months have seen higher sales volume in Manhattan Beach than the historical averages for each of the months. February of 2011 was the worst month, with sales falling a whopping 43 percent below that month&#8217;s average; but, in total, sales volume has been 6 percent higher than historical averages over the last 12 months. <span style="text-decoration: underline">This is definitely a bullish sign for the Manhattan Beach real estate market</span>.</p>
<p><a href="http://socalrea.com/files/2012/02/Manhattan-Beach-Real-Estate-Sales-Statistics-January-2012.png"><img class="alignleft  wp-image-1380" src="http://socalrea.com/files/2012/02/Manhattan-Beach-Real-Estate-Sales-Statistics-January-2012.png" alt="Manhattan Beach Real Estate Sales Statistics January 2012 All Quiet On The Western Front" width="262" height="394" title="All Quiet On The Western Front" /></a></p>
<p>Of the 16 closed sales in Janurary, 13 were single family residences (SFR&#8217;s), 2 were townhouses, and 1 was a condominium. Combined median home price was $1.45 million, and homes closed after an average of 91 days on market.</p>
<p>Median home prices for the SFR&#8217;s was $1.45 million, or $600 per square foot. Homes closed with an average of 91 days on market.</p>
<p>For the townhouse / condo segment, median prices were $1.1 million, or $654 per square foot, and homes closed, on average, after 79 days on market.</p>
<p>Looking at sales by <a title="Manhattan Beach real estate Section" href="http://socalrea.com/manhattan-beach-neighborhoods/">Manhattan Beach section</a> we see that most of the action happened in the Sand Section last month. Over 60 percent of sales volume closed in the Sand, with the Tree section coming in a distant 2nd place with 20% of volume.</p>
<p>Here&#8217;s the actual breakout by section:</p>
<p><a href="http://socalrea.com/files/2012/02/Manhattan-Beach-Sales-Volume-by-Section-January-2012.png"><img class="alignleft  wp-image-1383" src="http://socalrea.com/files/2012/02/Manhattan-Beach-Sales-Volume-by-Section-January-2012.png" alt="Manhattan Beach Sales Volume by Section January 2012 All Quiet On The Western Front" width="590" height="379" title="All Quiet On The Western Front" /></a></p>
<p>The next two charts show median home prices, and median price per square foot by section:</p>
<p><a href="http://socalrea.com/files/2012/02/Manhattan-Beach-Median-Price-By-Section-January-2012.png"><img class="alignleft  wp-image-1392" src="http://socalrea.com/files/2012/02/Manhattan-Beach-Median-Price-By-Section-January-2012.png" alt="Manhattan Beach Median Price By Section January 2012 All Quiet On The Western Front" width="590" height="397" title="All Quiet On The Western Front" /></a></p>
<p><a href="http://socalrea.com/files/2012/02/Manhattan-Beach-Median-Price-Per-Square-Foot-By-Section-January-2012.png"><img class="alignleft size-full wp-image-1398" src="http://socalrea.com/files/2012/02/Manhattan-Beach-Median-Price-Per-Square-Foot-By-Section-January-2012.png" alt="Manhattan Beach Median Price Per Square Foot By Section January 2012 All Quiet On The Western Front" width="590" height="397" title="All Quiet On The Western Front" /></a></p>
<p>It&#8217;s tough to draw meaningful statistics for each of the Manhattan Beach neighborhoods, or MLS real estate sections, with so few sales. Some of the sections, for instance, have only a single sale, so &#8220;median&#8221; prices can easily be thrown out of whack.</p>
<p>Let&#8217;s dig a little deeper into what happened in each of the neighborhoods&#8230;</p>
<h2>Manhattan Beach Sand Section</h2>
<p><a href="http://socalrea.com/files/2012/02/2920-the-strand-manhattan-beach-sand-section-90266.jpg"><img class="alignleft size-thumbnail wp-image-1401" src="http://socalrea.com/files/2012/02/2920-the-strand-manhattan-beach-sand-section-90266-150x150.jpg" alt="2920 the strand manhattan beach sand section 90266 150x150 All Quiet On The Western Front" width="150" height="150" title="All Quiet On The Western Front" /></a>The Sand Section carried the weight of January sales volume due to one big sale at <a title="2920 The Strand Manhattan Beach Sand Section 90266" href="http://www.redfin.com/CA/Manhattan-Beach/2920-The-Strand-90266/home/6710590">2920 The Strand</a>. This gorgeous ocean front, 7 bedroom, 6 1/4 bath, Strand home closed for $9.25 million.</p>
<p>Four other homes closed in the Sand Section last month, one being a townhouse, and another a condominium. Overall median home price was $2.675 million, or $836 per square foot, with homes remaining on market for an average of 100 days.</p>
<h2>Hill Section</h2>
<p><a href="http://socalrea.com/files/2012/02/853-9th-st-Manhattan-Beach-CA-90266-Hill-Section.jpg"><img class="alignleft size-thumbnail wp-image-1402" src="http://socalrea.com/files/2012/02/853-9th-st-Manhattan-Beach-CA-90266-Hill-Section-150x150.jpg" alt="853 9th st Manhattan Beach CA 90266 Hill Section 150x150 All Quiet On The Western Front" width="150" height="150" title="All Quiet On The Western Front" /></a>Only one home sold in the Hill Section last month, but what a home it was! <a title="853 9th St Manhattan Beach CA 90266 Hill Section Sold Home" href="http://www.redfin.com/CA/Manhattan-Beach/853-9th-St-90266/home/6706746">853 9th St</a> closed at $2,666,250, or $630 per square foot. This &#8220;immaculately polished&#8221; 5 bedroom, 4 1/2 bath home has 4,233 square feet of living area sitting on a 6,300 square foot lot. The home sold after 139 days on market.</p>
<p>&nbsp;</p>
<h2>Tree Section</h2>
<p><a href="http://socalrea.com/files/2012/02/2509-Laurel-Ave-Manhattan-Beach-CA-90266-Sold-Home.jpg"><img class="alignleft size-thumbnail wp-image-1403" src="http://socalrea.com/files/2012/02/2509-Laurel-Ave-Manhattan-Beach-CA-90266-Sold-Home-150x150.jpg" alt="2509 Laurel Ave Manhattan Beach CA 90266 Sold Home 150x150 All Quiet On The Western Front" width="150" height="150" title="All Quiet On The Western Front" /></a>The most exciting Tree Section sale for my company (because it involved two of our agents-one listing and the other bringing the buyer) was also the highest priced. <a title="2509 Laurel Ave Manhattan Beach CA 90266 Tree Section" href="http://www.redfin.com/CA/Manhattan-Beach/2509-Laurel-Ave-90266/home/6709332">2509 Laurel Ave</a> closed for $1,575,000, or $431 a square foot. Given that the home is nestled right by the Green Belt, the low price per square foot is a bit surprising. This was definitely a great deal for the new buyers!</p>
<p>Four other homes closed in the Tree Section last month with a median price of $1.2 million, or $517 per square foot. Homes remained on market for an average of 96 days before closing.</p>
<h2>Mira Costa</h2>
<p><a href="http://socalrea.com/files/2012/02/1643-3rd-St-Manhattan-Beach-CA-90266-Mira-Costa-Section.jpg"><img class="alignleft size-thumbnail wp-image-1404" src="http://socalrea.com/files/2012/02/1643-3rd-St-Manhattan-Beach-CA-90266-Mira-Costa-Section-150x150.jpg" alt="1643 3rd St Manhattan Beach CA 90266 Mira Costa Section 150x150 All Quiet On The Western Front" width="150" height="150" title="All Quiet On The Western Front" /></a>Two homes closed in Mira Costa last month, one being a single family residence &#8220;in need of major repair&#8221; at <a title="1643 3rd St Manhattan Beach CA 90266 Mira Costa" href="http://www.redfin.com/CA/Manhattan-Beach/1643-3rd-St-90266/home/6702824">1643 3rd St</a> ($899,000, or $533 per square foot), and the other a nicer Cape Cod style townhouse at <a title="1208 Tennyson #8 Manhattan Beach Mira Costa Section" href="http://www.redfin.com/CA/Manhattan-Beach/1208-Tennyson-St-90266/unit-8/home/8180932">1208 Tennyson #8</a> that sold for only $655,000, making it the least expensive home sold in Manhattan Beach last month.</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<h2>Manhattan Beach Heights / Liberty Village</h2>
<p><a href="http://socalrea.com/files/2012/02/1716-Marine-Ave-Manhattan-Beach-CA-90266-Manhattan-Beach-Heights-Liberty-Village-Section.jpg"><img class="alignleft size-thumbnail wp-image-1405" src="http://socalrea.com/files/2012/02/1716-Marine-Ave-Manhattan-Beach-CA-90266-Manhattan-Beach-Heights-Liberty-Village-Section-150x150.jpg" alt="1716 Marine Ave Manhattan Beach CA 90266 Manhattan Beach Heights Liberty Village Section 150x150 All Quiet On The Western Front" width="150" height="150" title="All Quiet On The Western Front" /></a>One home closed in this section, technically in the Liberty Village area: <a title="1716 Marine Ave Manhattan Beach CA 90266 Liberty Village" href="http://www.redfin.com/CA/Manhattan-Beach/1716-Marine-Ave-90266/home/6703285">1716 Marine Ave</a> closed for $672,500, or $581 per square foot. The home is the traditional one-level styles built in the 1950&#8242;s throughout this section of Manhattan Beach.</p>
<p>&nbsp;</p>
<h2>Manhattan Village</h2>
<p><a href="http://socalrea.com/files/2012/02/19-Chatham-Manhattan-Beach-CA-Manhattan-Village-Section.jpg"><img class="alignleft size-thumbnail wp-image-1406" src="http://socalrea.com/files/2012/02/19-Chatham-Manhattan-Beach-CA-Manhattan-Village-Section-150x150.jpg" alt="19 Chatham Manhattan Beach CA Manhattan Village Section 150x150 All Quiet On The Western Front" width="150" height="150" title="All Quiet On The Western Front" /></a>One home sold in the Planned Unit Development (PUD) of Manhattan Village: <a title="19 Chatham Manhattan Beach CA 90266 Manhattan Village Section" href="http://www.redfin.com/CA/Manhattan-Beach/19-Chatham-90266/home/6657386">19 Chatham</a> closed for $1.4 million, or $471 per square foot. Chatham sits on a large lot of 7,314 square feet, with 4 bedrooms and 2 1/2 baths in 2,972 square feet of living space. Manhattan Village is an immaculate gated community.</p>
<p>&nbsp;</p>
<h2>Summarizing Our First Month Of 2012</h2>
<p>Only fools and charlatans try to predict the future with certainty, but what I can say is that things are looking good for Manhattan Beach real estate. Over the last year we&#8217;ve seen sales volume beat the averages 8 months of the last 12, with median price per square foot up 2.3 percent year-over-year compared to January 2011.</p>
<p>Expect to see increasing inventory to hit market as we enter Spring, but that&#8217;s also when we&#8217;ll see an increasing number of hungry buyers. Only time will tell which way the scales tip!</p>
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<p>&nbsp;</p>
<p>&nbsp;</p>
<p>You just finished reading <a href="http://socalrea.com/2012/02/all-quiet-on-the-western-front/">All Quiet On The Western Front</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></content:encoded>
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		<title>Manhattan Beach Home Sales Close Strong in 2011</title>
		<link>http://socalrea.com/2012/01/manhattan-beach-home-sales-close-strong-in-2011/</link>
		<comments>http://socalrea.com/2012/01/manhattan-beach-home-sales-close-strong-in-2011/#comments</comments>
		<pubDate>Wed, 04 Jan 2012 16:22:34 +0000</pubDate>
		<dc:creator>Manhattan Beach Observer</dc:creator>
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		<description><![CDATA[<p>Despite news that the rest of the country&#8217;s housing market is still in the doldrums, and that the National Association of Realtors(R) made a humiliating downward revision to home sales by 14.3 percent, Manhattan Beach managed to post a flat year in median home price growth with better-than-average sales volume. December saw 25 homes close [...]</p><p>You just finished reading <a href="http://socalrea.com/2012/01/manhattan-beach-home-sales-close-strong-in-2011/">Manhattan Beach Home Sales Close Strong in 2011</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></description>
			<content:encoded><![CDATA[<p><a href="http://socalrea.com/files/2012/01/2011-image-manhattan-beach-realtor.jpg"><img class="alignleft size-thumbnail wp-image-1071" src="http://socalrea.com/files/2012/01/2011-image-manhattan-beach-realtor-150x150.jpg" alt="2011 image manhattan beach realtor 150x150 Manhattan Beach Home Sales Close Strong in 2011" width="150" height="150" title="Manhattan Beach Home Sales Close Strong in 2011" /></a>Despite news that the rest of the country&#8217;s housing market is still in the doldrums, and that the National Association of Realtors(R) made a humiliating <a title="national association of realtors downward revision home sales 14.3 percent" href="http://www.housingwire.com/2011/12/21/nar-reduces-recent-home-sales-index-14-3">downward revision to home sales by 14.3 percent</a>, Manhattan Beach managed to post a flat year in median home price growth with better-than-average sales volume. December saw 25 homes close with a median price of $1,450,000 on $40,607,000 of volume. On average, listings took 100 days on market (DOM) before closing. Sales volume closed higher than the trailing 4-year average for 7 of the 12 months of 2011, with $528.3 million in total closed sales for the year, compared to the 4-year average annual volume of $497.7 million. While this is a far cry from the &#8220;irrational exuberance&#8221; of the boom days, Manhattan Beach is officially a healthy housing market.</p>
<p>Here&#8217;s a chart that shows monthly sales for 2011 compared to the 4-year average from 2007-11:</p>
<p><a href="http://socalrea.com/files/2012/01/MB-Monthly-Sales-Volume-Dec11.jpg"><img class="alignnone size-full wp-image-1074" src="http://socalrea.com/files/2012/01/MB-Monthly-Sales-Volume-Dec11.jpg" alt="MB Monthly Sales Volume Dec11 Manhattan Beach Home Sales Close Strong in 2011" width="596" height="410" title="Manhattan Beach Home Sales Close Strong in 2011" /></a></p>
<p>Breaking out median home prices for closed sales per <a title="Manhattan Beach Neighborhoods Sections" href="http://socalrea.com/manhattan-beach-neighborhoods/">Manhattan Beach neighborhood</a>, or section:</p>
<p><a href="http://socalrea.com/files/2012/01/Manhattan-Beach-Median-Home-Price-by-Section-December-2011.jpg"><img class="alignnone size-full wp-image-1077" src="http://socalrea.com/files/2012/01/Manhattan-Beach-Median-Home-Price-by-Section-December-2011.jpg" alt="Manhattan Beach Median Home Price by Section December 2011 Manhattan Beach Home Sales Close Strong in 2011" width="591" height="378" title="Manhattan Beach Home Sales Close Strong in 2011" /></a></p>
<p>Normalizing the same data by square footage for each property:</p>
<p><a href="http://socalrea.com/files/2012/01/Manhattan-Beach-Median-Home-Price-per-SQFT-by-Section-December-2011.jpg"><img class="alignnone size-full wp-image-1078" src="http://socalrea.com/files/2012/01/Manhattan-Beach-Median-Home-Price-per-SQFT-by-Section-December-2011.jpg" alt="Manhattan Beach Median Home Price per SQFT by Section December 2011 Manhattan Beach Home Sales Close Strong in 2011" width="591" height="378" title="Manhattan Beach Home Sales Close Strong in 2011" /></a></p>
<p>Here&#8217;s a summary of December, 2011 market stats for all Manhattan Beach 1-4 unit residential properties, including single family residences (SFR&#8217;s), townhouses, and condos:</p>
<p><a href="http://socalrea.com/files/2012/01/Manhattan-Beach-Market-Stats-December-20111.jpg"><img class="alignnone size-full wp-image-1085" src="http://socalrea.com/files/2012/01/Manhattan-Beach-Market-Stats-December-20111.jpg" alt="Manhattan Beach Market Stats December 20111 Manhattan Beach Home Sales Close Strong in 2011" width="329" height="488" title="Manhattan Beach Home Sales Close Strong in 2011" /></a></p>
<p>Another way to look at the Manhattan Beach real estate market is to analyze each major neighborhood, or section, separately. Each neighborhood has its own micro-market, so let&#8217;s take a look at how they each fared independently.</p>
<h2>Manhattan Beach Sand Section</h2>
<p><a href="http://socalrea.com/files/2012/01/416-10th-St-Manhattan-Beach-CA-90266.jpg"><img class="alignleft size-thumbnail wp-image-1087" src="http://socalrea.com/files/2012/01/416-10th-St-Manhattan-Beach-CA-90266-150x150.jpg" alt="416 10th St Manhattan Beach CA 90266 150x150 Manhattan Beach Home Sales Close Strong in 2011" width="150" height="150" title="Manhattan Beach Home Sales Close Strong in 2011" /></a></p>
<p>The Sand Section consistently ranks as Manhattan Beach&#8217;s most expensive section. In December, 9 homes sold with a median price of $1,675,000, or $629 per square foot, for a total volume of $16,445,000. Listings that sold last month took an average of 119 days on market before closing. The most expensive home to sell in the Sand was a 3+ level, 4 bedroom, 6 bath,  Mediterranean style home with ocean and Catalina Island views at  <a title="416 10th St manhattan beach ca 90266 sand section closed home sale" href="http://www.redfin.com/CA/Manhattan-Beach/416-10th-St-90266/home/6711729">416 10th St</a>, which closed for $2,975,000. The least expensive Sand Section home sold last month was <a title="527 24th St manhattan beach ca 90266 sand section" href="http://www.redfin.com/CA/Manhattan-Beach/527-24th-St-90266/home/6710650">527 24th St</a>, which closed for $1,325,000.</p>
<h2>Tree Section</h2>
<p><a href="http://socalrea.com/files/2012/01/2909-Laurel-Ave-Manhattan-Beach-CA-90266-Tree-Section.jpg"><img class="alignleft size-thumbnail wp-image-1088" src="http://socalrea.com/files/2012/01/2909-Laurel-Ave-Manhattan-Beach-CA-90266-Tree-Section-150x150.jpg" alt="2909 Laurel Ave Manhattan Beach CA 90266 Tree Section 150x150 Manhattan Beach Home Sales Close Strong in 2011" width="150" height="150" title="Manhattan Beach Home Sales Close Strong in 2011" /></a>Next in line for highest median home price is the Tree Section, which had 5 homes sell for a median price of $1,499,000, or $480 per square foot. Homes in the Tree section took, on average, 114 days on market before closing. The highest priced home to sell last month was <a title="2909 Laurel Ave Manhattan Beach CA 90266 Tree Section" href="http://www.redfin.com/CA/Manhattan-Beach/2909-Laurel-Ave-90266/home/6709094">2909 Laurel Ave</a>, which closed at $2,275,000 after 98 days on market. Sitting on a 5,406 square foot lot, this home was marketed as having the &#8220;charm and feel of a plantation home in the south.&#8221; On the low end of closed sales was <a title="844 12th Ct Manhattan Beach CA 90266 Tree Section" href="http://www.redfin.com/CA/Manhattan-Beach/844-12th-Ct-90266/home/6706316">844 12th Ct</a>, which closed at $1,150,000.</p>
<h2>Mira Costa Section</h2>
<p><a href="http://socalrea.com/files/2011/09/116-Terraza-Pl-Home-Listing.jpg"><img class="alignleft size-thumbnail wp-image-937" src="http://socalrea.com/files/2011/09/116-Terraza-Pl-Home-Listing-150x150.jpg" alt="116 Terraza Pl Home Listing 150x150 Manhattan Beach Home Sales Close Strong in 2011" width="150" height="150" title="Manhattan Beach Home Sales Close Strong in 2011" /></a>Mira Costa had 7 homes close last month with a median price of $1,440,000, or $470 per square foot, and an average of 71 days on market. The big news for Mira Costa was <a title="116 Terraza Pl Manhattan Beach CA 90266 Mira Costa" href="http://www.redfin.com/CA/Manhattan-Beach/116-Terraza-Pl-90266/home/6705316">116 Terraza Pl</a> closing for $4,900,000 after 164 cumulative days on market, and an original list price of $6,650,000. Click on the link above and check out the listings, it&#8217;s truly a remarkable home in Manhattan Beach&#8217;s &#8220;Mansion Area.&#8221;</p>
<p>On the other side of the spectrum, a more affordable entry level home at <a title="1761 5th St Manhattan Beach CA 90266 Mira Costa" href="http://www.redfin.com/CA/Manhattan-Beach/1761-5th-St-90266/home/6702557">1761 5th St</a> closed for $805,000.</p>
<h2>Manhattan Beach Heights / Liberty Village</h2>
<p><a href="http://socalrea.com/files/2012/01/1900-Peck-Ave-Manhattan-Beach-CA-90266-Manhattan-Beach-Heights-Liberty-Village.jpg"><img class="alignleft size-thumbnail wp-image-1089" src="http://socalrea.com/files/2012/01/1900-Peck-Ave-Manhattan-Beach-CA-90266-Manhattan-Beach-Heights-Liberty-Village-150x150.jpg" alt="1900 Peck Ave Manhattan Beach CA 90266 Manhattan Beach Heights Liberty Village 150x150 Manhattan Beach Home Sales Close Strong in 2011" width="150" height="150" title="Manhattan Beach Home Sales Close Strong in 2011" /></a>Sliding further down the affordability scale, we come to Manhattan Beach Heights, and Liberty Village, which are traditionally lumped together for a single market area. December saw 3 homes sell in this section with a median home price of $865,000, or $470 per square foot. Home took, on average, 116 days on market before they closed. The most expensive home to sell here was <a title="1900 Peck Ave Manhattan Beach CA 90266 Manhattan Beach Heights Liberty Village" href="http://www.redfin.com/CA/Manhattan-Beach/1900-N-Peck-Ave-90266/home/6703142">1900 Peck Ave</a> for $1,190,000 &#8211; a single-story, traditional home built in 1964 with 2,530 square feet of living space, sitting on a 5,900 square foot lot.</p>
<p>And the winner for least expensive property in Manhattan Beach last month was an 852 square foot condo at <a title="1311 Manhattan Beach Blvd Manhattan Beach CA 90266 Manhattan Beach Heights Liberty Village" href="http://www.redfin.com/CA/Manhattan-Beach/1311-Manhattan-Beach-Blvd-90266/unit-5/home/6703918">1311 Manhattan Beach Blvd</a>, which closed for $374,000.</p>
<h2>Manhattan Village</h2>
<p><a href="http://socalrea.com/files/2012/01/1-Evergreen-Ln-Manhattan-Beach-CA-90266-Manhattan-Village.jpg"><img class="alignleft size-thumbnail wp-image-1090" src="http://socalrea.com/files/2012/01/1-Evergreen-Ln-Manhattan-Beach-CA-90266-Manhattan-Village-150x150.jpg" alt="1 Evergreen Ln Manhattan Beach CA 90266 Manhattan Village 150x150 Manhattan Beach Home Sales Close Strong in 2011" width="150" height="150" title="Manhattan Beach Home Sales Close Strong in 2011" /></a>The Planned Urban Development (PUD) community of Manhattan Village only saw 1 closed sale in December with <a title="1 Evergreen Ln Manhattan Beach CA 90266 Manhattan Village" href="http://www.redfin.com/CA/Manhattan-Beach/1-Evergreen-Ln-90266/home/6659212">1 Evergreen Lane</a> selling for $1,240,000. This beautiful two-level Cape Cod style home built in 1985 has 4 bedrooms, 2 1/2 baths, 2,310 square feet of living area, and sits on a 3,674 square foot lot.</p>
<p>With the last month of the year closed out, we can look back and see that 2011 was a solid, healthy year for the Manhattan Beach real estate market. Prices remained flat, but sales volume increased over the last 4-year average. Let&#8217;s see what 2012 brings&#8230;</p>
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		<title>Wealth Has Never Been More Temporary</title>
		<link>http://socalrea.com/2011/12/wealth-has-never-been-more-temporary/</link>
		<comments>http://socalrea.com/2011/12/wealth-has-never-been-more-temporary/#comments</comments>
		<pubDate>Mon, 19 Dec 2011 17:58:33 +0000</pubDate>
		<dc:creator>Manhattan Beach Observer</dc:creator>
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		<guid isPermaLink="false">http://socalrea.com/?p=1064</guid>
		<description><![CDATA[<p>The Wall Street Journal published an article today called &#8220;The Truth About Money&#8221; that struck me as extremely relevant for Manhattan Beach residents. This excerpt says it all: The total income of the top 1%—or those earning more than $343,000 in 2009—fell by more than 30% from 2007, according to the most recent Internal Revenue [...]</p><p>You just finished reading <a href="http://socalrea.com/2011/12/wealth-has-never-been-more-temporary/">Wealth Has Never Been More Temporary</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></description>
			<content:encoded><![CDATA[<p>The Wall Street Journal published an article today called &#8220;<a title="Wall Street Journal article &quot;The Truth About Money&quot;" href="http://online.wsj.com/article/SB10001424052970204336104577096410776256928.html">The Truth About Money</a>&#8221; that struck me as extremely relevant for Manhattan Beach residents. This excerpt says it all:</p>
<blockquote><p>The total income of the top 1%—or those earning more than $343,000 in 2009—fell by more than 30% from 2007, according to the most recent Internal Revenue Service data. By contrast, the average income of the bottom 90% fell less than 3% during the same period.</p></blockquote>
<p>The article goes on to cite a study by Jonathan A. Parker and Annette Vissing-Jorgensen of Northwestern University that found that &#8220;the beta of the top 1% nearly quadrupled between 1982 and 2007 to 2.39. The top 0.01% had a beta of 3.96, making even the riskiest tech stocks look safe by comparison.&#8221;</p>
<p>What this means is that for every 1% fall in the stock market, the richest Americans are seeing a 4% drop in their net worth!</p>
<p>Couple this with a study I published in July on &#8220;<a title="How Stocks Effect Manhattan Beach Home Prices" href="http://socalrea.com/2011/07/how-stocks-effect-manhattan-beach-home-prices/">How Stocks Effect Manhattan Beach Home Prices</a>,&#8221; in which I showed that Manhattan Beach home values are 33.3% correlated to the S&amp;P 500, compared to 18.3% for the rest of Los Angeles, and 4.3% for the national market.</p>
<p>The big take away is that <span style="text-decoration: underline"><strong>wealth is not a guaranteed phenomenon</strong></span>, and affluent Americans are less secure as they increase their portfolios&#8217; risk levels.</p>
<p>Given that Manhattan Beach home values are 670% more correlated to the stock market than national home prices, residents here should adjust their other financial holdings accordingly to account for elevated risk to local real estate exposure.</p>
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		<title>November Sales Surge 16 Percent In Manhattan Beach</title>
		<link>http://socalrea.com/2011/12/november-sales-surge-16-percent-in-manhattan-beach/</link>
		<comments>http://socalrea.com/2011/12/november-sales-surge-16-percent-in-manhattan-beach/#comments</comments>
		<pubDate>Wed, 07 Dec 2011 18:53:01 +0000</pubDate>
		<dc:creator>Manhattan Beach Observer</dc:creator>
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		<guid isPermaLink="false">http://socalrea.com/?p=1051</guid>
		<description><![CDATA[<p>Watching CNBC can easily make one believe the sky is falling. Daily we are bombarded with news of the Euro zone moving towards collapse, runaway budget deficits from Congress, and persistently high unemployment. Real estate markets around the world started a collapse in 2008, and have yet to officially recover. However, in this tiny corner [...]</p><p>You just finished reading <a href="http://socalrea.com/2011/12/november-sales-surge-16-percent-in-manhattan-beach/">November Sales Surge 16 Percent In Manhattan Beach</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></description>
			<content:encoded><![CDATA[<p><a href="http://socalrea.com/files/2011/12/612-John-St-Manhattan-Beach-CA-90266.jpg"><img class="alignleft size-thumbnail wp-image-1052" src="http://socalrea.com/files/2011/12/612-John-St-Manhattan-Beach-CA-90266-150x150.jpg" alt="612 John St Manhattan Beach CA 90266 150x150 November Sales Surge 16 Percent In Manhattan Beach" width="150" height="150" title="November Sales Surge 16 Percent In Manhattan Beach" /></a>Watching CNBC can easily make one believe the sky is falling. Daily we are bombarded with news of the Euro zone moving towards collapse, runaway budget deficits from Congress, and persistently high unemployment. Real estate markets around the world started a collapse in 2008, and have yet to officially recover. However, in this tiny corner of the world they call Manhattan Beach, 2011 continues to surprise.</p>
<p>The 25 homes closed in November pushed sales volume 16 per cent higher than the last four year November average. Median sales price came in at $1,237,500, which is an 8 per cent jump over October. Here&#8217;s a snapshot of monthly sales volume over the last four years:</p>
<p><a href="http://socalrea.com/files/2011/12/Manhattan-Beach-Real-Estate-Monthly-Sales-Volume.jpg"><img class="alignleft size-full wp-image-1055" src="http://socalrea.com/files/2011/12/Manhattan-Beach-Real-Estate-Monthly-Sales-Volume.jpg" alt="Manhattan Beach Real Estate Monthly Sales Volume November Sales Surge 16 Percent In Manhattan Beach" width="595" height="410" title="November Sales Surge 16 Percent In Manhattan Beach" /></a></p>
<p>Here&#8217;s a breakout of stats by section:</p>
<p><a href="http://socalrea.com/files/2011/12/Manhattan-Beach-Section-Stats-Nov11.jpg"><img class="alignleft size-full wp-image-1058" src="http://socalrea.com/files/2011/12/Manhattan-Beach-Section-Stats-Nov11.jpg" alt="Manhattan Beach Section Stats Nov11 November Sales Surge 16 Percent In Manhattan Beach" width="602" height="140" title="November Sales Surge 16 Percent In Manhattan Beach" /></a></p>
<p>While it&#8217;s still too early to call this a rebound, I&#8217;m going to venture to call a bottom to our market. Prices have stabilized, and volume is better than average.</p>
<p>Seasonality of real estate means we likely won&#8217;t see appreciable growth in the Manhattan Beach market until Q2 2012, but the worst is behind us.</p>
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		<title>October Sales Exactly As Expected</title>
		<link>http://socalrea.com/2011/11/october-sales-exactly-as-expected/</link>
		<comments>http://socalrea.com/2011/11/october-sales-exactly-as-expected/#comments</comments>
		<pubDate>Mon, 07 Nov 2011 16:02:57 +0000</pubDate>
		<dc:creator>Manhattan Beach Observer</dc:creator>
				<category><![CDATA[Blog]]></category>
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		<guid isPermaLink="false">http://socalrea.com/?p=1034</guid>
		<description><![CDATA[<p>A sizzling summer is officially over for the Manhattan Beach real estate market, and the Fall and early Winter doldrums are upon us. That said, the 23 closed sales in October came in at a total market volume of $36.7 million, almost exactly in line with average October volume dating back to 2007 of $37.6 [...]</p><p>You just finished reading <a href="http://socalrea.com/2011/11/october-sales-exactly-as-expected/">October Sales Exactly As Expected</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></description>
			<content:encoded><![CDATA[<p><a href="http://socalrea.com/files/2011/11/pumkin-home-image.jpg"><img class="alignleft size-thumbnail wp-image-1035" src="http://socalrea.com/files/2011/11/pumkin-home-image-150x150.jpg" alt="pumkin home image 150x150 October Sales Exactly As Expected" width="150" height="150" title="October Sales Exactly As Expected" /></a>A sizzling summer is officially over for the Manhattan Beach real estate market, and the Fall and early Winter doldrums are upon us. That said, the 23 closed sales in October came in at a total market volume of $36.7 million, almost exactly in line with average October volume dating back to 2007 of $37.6 million.</p>
<p>Of the 23 sales last month, 15 were single family residences (SFR&#8217;s), and 8 were townhouses. Total market median sales price was $1.3 million, compared to $1.15 million last month, and $1.355 million in August. Median price per square foot went up to $612 from a $576 the previous month.</p>
<p>One item of interest is that the homes sold in October were on the market for considerably longer than the homes sold in September, average days on market shooting up to 105 compared to 74 the previous month. Overall, and despite slowing activity compared to the summer, October was a relatively healthy month with longer standing inventory finally clearing, and median prices edging up.</p>
<p><a href="http://socalrea.com/files/2011/11/MB-Average-Monthly-Sales-Volume-Oct11.jpg"><img class="alignleft size-full wp-image-1036" src="http://socalrea.com/files/2011/11/MB-Average-Monthly-Sales-Volume-Oct11.jpg" alt="MB Average Monthly Sales Volume Oct11 October Sales Exactly As Expected" width="595" height="410" title="October Sales Exactly As Expected" /></a></p>
<p>&nbsp;</p>
<p>A quick plot of October median home prices by section shows a typical neighborhood profile, with the Sand Section taking the lead, followed by the Tree and Hill sections. Typically, Hill Section homes have higher values than Tree, but we only had one Hill sale in October, so the data is not fully representative of relative section values in that respect.</p>
<p><a href="http://socalrea.com/files/2011/11/Manhattan-Beach-Median-Home-Price-by-Section-Oct11.jpg"><img class="alignleft size-full wp-image-1044" src="http://socalrea.com/files/2011/11/Manhattan-Beach-Median-Home-Price-by-Section-Oct11.jpg" alt="Manhattan Beach Median Home Price by Section Oct11 October Sales Exactly As Expected" width="590" height="377" title="October Sales Exactly As Expected" /></a></p>
<p>Another look at prices by square foot:</p>
<p><a href="http://socalrea.com/files/2011/11/Manhattan-Beach-Price-Per-Square-Foot-by-Section-Oct11.jpg"><img class="alignleft size-full wp-image-1046" src="http://socalrea.com/files/2011/11/Manhattan-Beach-Price-Per-Square-Foot-by-Section-Oct11.jpg" alt="Manhattan Beach Price Per Square Foot by Section Oct11 October Sales Exactly As Expected" width="590" height="377" title="October Sales Exactly As Expected" /></a></p>
<p>Looking at the median home price data by square foot helps normalize for better comparison of relative value. In October, the Hill sale came in at a higher price per square foot than the median Sand data. Hill and Sand sections sometimes swap for the #1 priciest location spot, but it&#8217;s rare for the ocean views and bigger lots in the Hill to overtake actually being on the ocean in the Sand.</p>
<h2>Notable October Sales</h2>
<p><a href="http://socalrea.com/files/2011/11/2504-the-strand-manhattan-beach-ca-90266.jpg"><img class="alignleft size-thumbnail wp-image-1049" src="http://socalrea.com/files/2011/11/2504-the-strand-manhattan-beach-ca-90266-150x150.jpg" alt="2504 the strand manhattan beach ca 90266 150x150 October Sales Exactly As Expected" width="150" height="150" title="October Sales Exactly As Expected" /></a><a title="2504 The Strand Manhattan Beach CA 90266" href="http://www.redfin.com/CA/Manhattan-Beach/2504-The-Strand-90266/home/6711012">2504 The Strand</a> was the big deal of the month, closing at $5,150,000. This contemporary, 3+ level, Strand home is the epitome of Manhattan Beach living. Three ocean-side decks with views from Malibu to Catalina are enough to make any buyer salivate, but the price came down significantly off the original high of $7,190,000 when it was listed in March.</p>
<p>On the low end of the spectrum, <a title="1131 22nd St Manhattan Beach CA 90266 home for sale" href="http://www.redfin.com/CA/Manhattan-Beach/1131-22nd-St-90266/home/6704147">1131 22nd St</a> closed for $600,793, or $350 a square foot. This home is an older short sale that closed after 10 days of being listed for an original amount of $775,000.</p>
<h2>Coming Soon to SoCalREA</h2>
<p>The only path to improvement is critical self evaluation. On that measure, the monthly market statistics presented on this site can be significantly improved by incorporating time series data, trends over time, and computing moving averages. We&#8217;re working on new data analysis to be presented over the next month that should provide much more insight to residents and prospective buyers in all of the Manhattan Beach neighborhoods.</p>
<p>Any and all suggestions are welcome, so please feel free to contact us with any requests on data, or new analysis you&#8217;d like to see!</p>
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<p>You just finished reading <a href="http://socalrea.com/2011/11/october-sales-exactly-as-expected/">October Sales Exactly As Expected</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></content:encoded>
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		<title>Manhattan Beach Home Sales Slip In September</title>
		<link>http://socalrea.com/2011/10/manhattan-beach-home-sales-slip-in-september/</link>
		<comments>http://socalrea.com/2011/10/manhattan-beach-home-sales-slip-in-september/#comments</comments>
		<pubDate>Tue, 04 Oct 2011 14:30:56 +0000</pubDate>
		<dc:creator>Manhattan Beach Observer</dc:creator>
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		<description><![CDATA[<p>September sales missed the mark, falling just short of what we&#8217;re used to seeing in closed sales for Manhattan Beach this time of year. A total of 29 single family residences (SFR&#8217;s) closed worth a combined $38.6 million. Adding 4 townhouses and 1 condo for another $5.2 million in market volume still leaves the Manhattan [...]</p><p>You just finished reading <a href="http://socalrea.com/2011/10/manhattan-beach-home-sales-slip-in-september/">Manhattan Beach Home Sales Slip In September</a> on <a href="http://socalrea.com">Manhattan Beach Realtor</a>. Please consider leaving a comment!</p>]]></description>
			<content:encoded><![CDATA[<p>September sales missed the mark, falling just short of what we&#8217;re used to seeing in closed sales for Manhattan Beach this time of year. A total of 29 single family residences (SFR&#8217;s) closed worth a combined $38.6 million. Adding 4 townhouses and 1 condo for another $5.2 million in market volume still leaves the Manhattan Beach real estate market in a questionable state.</p>
<p>Take a look at 2011 market activity versus average volume over the last four years:</p>
<p><a href="http://socalrea.com/files/2011/10/Manhattan-Beach-Average-Monthly-Sales-Volume-Updated-Sep11.jpg"><img class="alignleft size-full wp-image-1003" src="http://socalrea.com/files/2011/10/Manhattan-Beach-Average-Monthly-Sales-Volume-Updated-Sep11.jpg" alt="Manhattan Beach Average Monthly Sales Volume Updated Sep11 Manhattan Beach Home Sales Slip In September" width="595" height="410" title="Manhattan Beach Home Sales Slip In September" /></a></p>
<p>Sales volume falling below the September monthly average doesn&#8217;t, of itself, speak to market weakness. Market activity fluctuates, so a single month falling below an arbitrary benchmark should not raise too many alarms.</p>
<p>What&#8217;s troubling is sitting in open houses every weekend, and talking to prospective buyers as they come through what are gorgeous homes selling at prices below what recent closed stats would indicate are &#8220;fair&#8221; market values. Offers just aren&#8217;t coming in at anywhere near what even the most experienced agents in my brokerage would expect.</p>
<p>Searching the MLS for price reductions relative to total listing volume showed that 71 of the 130 active Manhattan Beach residential listings in September showed price reductions. That means that 55% of Manhattan Beach homes came down in price because they weren&#8217;t selling.</p>
<p>Manhattan Beach homes are also staying on market for almost a week longer this month compared to last, with cumulative days on market moving up to 74 from 69 as reported in August.</p>
<p>Here&#8217;s a look at market volume by section:</p>
<p><a href="http://socalrea.com/files/2011/10/Manhattan-Beach-Market-Volume-By-Section-Sep11.jpg"><img class="alignleft size-full wp-image-1021" src="http://socalrea.com/files/2011/10/Manhattan-Beach-Market-Volume-By-Section-Sep11.jpg" alt="Manhattan Beach Market Volume By Section Sep11 Manhattan Beach Home Sales Slip In September" width="590" height="377" title="Manhattan Beach Home Sales Slip In September" /></a></p>
<p>Manhattan Beach median home prices came in 15.1% lower than August, showing a value of $1.150m ($575.74 a square foot) versus $1.355m last month. With relatively low volume, these numbers, of themselves, should not be taken definitively to mean that prices are crashing in Manhattan Beach. However, they are indicative that <em><strong>lower value homes are the ones closing, while more expensive inventory remains on market longer</strong></em>. To show a conclusive value reduction for the Manhattan Beach market, we&#8217;d have to either do a multi-month moving average calculation, or a housing pair algorithm akin to the <a title="Case Shiller Home Price Index" href="http://en.wikipedia.org/wiki/Case%E2%80%93Shiller_index">Case-Shiller Housing Index</a>.</p>
<p>Since the Manhattan Beach real estate market is relatively complex, we can&#8217;t just aggregate all the stats and leave it at that. Let&#8217;s dig deeper into each of the 5 major sections:</p>
<h2>Sand Section Shocker</h2>
<p><a href="http://socalrea.com/files/2011/10/401-2nd-St-Sand-Section-Manhattan-Beach-CA.jpg"><img class="alignleft" src="http://socalrea.com/files/2011/10/401-2nd-St-Sand-Section-Manhattan-Beach-CA-150x150.jpg" alt="401 2nd St Sand Section Manhattan Beach CA 150x150 Manhattan Beach Home Sales Slip In September" width="150" height="150" title="Manhattan Beach Home Sales Slip In September" /></a>The biggest surprise in September was that Sand Section SFR median home prices dropped to $1,388,500, or $629 a square foot. That&#8217;s coming off a median of $2.6m in August, and $852 a square foot. Half of the 8 Sand Section SFR&#8217;s sold in less than 52 days on market (DOM), for a total market volume of  $13.6 million. Sellers priced their properties somewhat near market, with average sale-to-list of 97.3%, or 93.1% from original list prices.</p>
<p>The best Sand story was a probate listing at <a title="Manhattan Beach probate sale 526 W 23rd St Sand Section 90266" href="http://www.redfin.com/CA/Manhattan-Beach/526-23rd-St-90266/home/6710716">526 W 23rd St</a> that was put on the market for $900,000, but sold for 117% of list price, or $1,050,000. And the Best Negotiating Award goes to the buyer of <a title="1900 Highland Ave Manhattan Beach CA 90266 Sand Section Sold Home" href="http://www.redfin.com/CA/Manhattan-Beach/1900-Highland-Ave-90266/home/6711451">1900 Highland Ave</a>, paying only 87% of final list price, which was 20% off the original list ($1.125m closed on an original of $1.4m).</p>
<p><a title="2211 Bayview Dr Manhattan Beach CA 90266 Sold Home Sand Section Townhouse" href="http://www.redfin.com/CA/Manhattan-Beach/2211-Bayview-Dr-90266/home/17230331">2211 Bayview Dr</a> was the one Sand Section townhouse sale in September, settling at a respectable $2.065m ($776 sqft).</p>
<p><a href="http://socalrea.com/files/2011/10/Sand-Section-Market-Statistics-Sep11.jpg"><img class="alignleft size-full wp-image-1011" src="http://socalrea.com/files/2011/10/Sand-Section-Market-Statistics-Sep11.jpg" alt="Sand Section Market Statistics Sep11 Manhattan Beach Home Sales Slip In September" width="616" height="418" title="Manhattan Beach Home Sales Slip In September" /></a></p>
<h2>Tree Section For Under A Million</h2>
<p><a href="http://socalrea.com/files/2011/10/1816-Palm-Ave-Manhattan-Beach-CA-Tree-Section.jpg"><img class="alignleft size-thumbnail wp-image-1008" src="http://socalrea.com/files/2011/10/1816-Palm-Ave-Manhattan-Beach-CA-Tree-Section-150x150.jpg" alt="1816 Palm Ave Manhattan Beach CA Tree Section 150x150 Manhattan Beach Home Sales Slip In September" width="150" height="150" title="Manhattan Beach Home Sales Slip In September" /></a>A funny thing happened in the Tree Section last month: About half of the 11 homes closing in September sold for less than $900k! Median sale price actually came in at the lowest I&#8217;ve ever seen it &#8211; $905k. The saving grace for the Trees is that the median price per square foot came in at a relative high of $750. Half of the homes in this section sold in less than 69 days, and buyers were able to shave off about 4% in negotiations.</p>
<p>The priciest Tree Section home was <a title="1816 Palm Ave Manhattan Beach CA 90266 Tree Section Sold Home" href="http://www.redfin.com/CA/Manhattan-Beach/1816-Palm-Ave-90266/home/6707438">1816 Palm Ave</a> that closed at $2.181m, while the least expensive deal came from a 1950&#8242;s, 874 sqft, cottage at <a title="730 Rosecrans Ave Manhattan Beach CA 90266 Tree Section Sold Home" href="http://www.redfin.com/CA/Manhattan-Beach/730-Rosecrans-Ave-90266/home/6708687">730 Rosecrans Ave</a> that sold for $671k.</p>
<p><a href="http://socalrea.com/files/2011/10/Tree-Section-Market-Trends-Sep11.jpg"><img class="alignleft size-full wp-image-1013" src="http://socalrea.com/files/2011/10/Tree-Section-Market-Trends-Sep11.jpg" alt="Tree Section Market Trends Sep11 Manhattan Beach Home Sales Slip In September" width="615" height="414" title="Manhattan Beach Home Sales Slip In September" /></a></p>
<h2>Hill Section Route</h2>
<p><a href="http://socalrea.com/files/2011/10/513-11th-Pl-Manhattan-Beach-CA-90266-Hill-Section-Townhouse.jpg"><img class="alignleft size-thumbnail wp-image-1009" src="http://socalrea.com/files/2011/10/513-11th-Pl-Manhattan-Beach-CA-90266-Hill-Section-Townhouse-150x150.jpg" alt="513 11th Pl Manhattan Beach CA 90266 Hill Section Townhouse 150x150 Manhattan Beach Home Sales Slip In September" width="150" height="150" title="Manhattan Beach Home Sales Slip In September" /></a>Bloody September took a toll on the Hill Section, with only 3 sales, 1 of which was a townhouse. The stats look terrible: Median SFR price was a paltry $1,674m, or $472 sqft; compare this to August where median sales price was $2.4m ($578 sqft). What killed it was <a title="707 Anderson Ave Manhattan Beach CA 90266 Hill Section Sold Home" href="http://www.redfin.com/CA/Manhattan-Beach/707-Anderson-St-90266/home/6705415">707 Anderson St</a>, which sold for under $400 sqft at $1.500m after 163 DOM. The lone townhouse that sold at <a title="513 11th Pl Manhattan Beach CA 90266 Hill Section Townhouse Sold" href="http://www.redfin.com/CA/Manhattan-Beach/513-11th-Pl-90266/home/8121381">513 11th Pl</a> for $1.243m ($698 sqft) helped boost Hill Section price per square foot, but couldn&#8217;t do much for the overall median home price.</p>
<p>Not surprisingly, 11 of the 13 Hill Section active listings are priced over $2.000m, 8 being at, or above $3.000m &#8211; <em><strong>higher end homes just aren&#8217;t moving</strong></em>!</p>
<p><a href="http://socalrea.com/files/2011/10/Hill-Section-Market-Trends-Sep11.jpg"><img class="alignleft size-full wp-image-1024" src="http://socalrea.com/files/2011/10/Hill-Section-Market-Trends-Sep11.jpg" alt="Hill Section Market Trends Sep11 Manhattan Beach Home Sales Slip In September" width="616" height="432" title="Manhattan Beach Home Sales Slip In September" /></a></p>
<h2>Mira Costa Priced Right</h2>
<p><a href="http://socalrea.com/files/2011/10/1401-2nd-St-Manhattan-Beach-CA-90266-Mira-Costa.jpg"><img class="alignleft size-thumbnail wp-image-1014" src="http://socalrea.com/files/2011/10/1401-2nd-St-Manhattan-Beach-CA-90266-Mira-Costa-150x150.jpg" alt="1401 2nd St Manhattan Beach CA 90266 Mira Costa 150x150 Manhattan Beach Home Sales Slip In September" width="150" height="150" title="Manhattan Beach Home Sales Slip In September" /></a>Sales volume in the Mira Costa section for SFR&#8217;s held completely flat at $8.900m, median home price of $1.235m moved up 5.1% over August,  and half of homes sold in under 42 DOM for less than 2% off of asking price, on average. In terms of market efficiency, Mira Costa came closest to matching homeowner and buyer expectations. With 14 SFR&#8217;s, townhouses, and condos still active in the section, September&#8217;s 8 sales gives Mira Costa an inventory turnover ratio of about 36%.</p>
<p>Mira Costa shows the same trend of lower priced homes doing better than the higher end of the market. <a title="1420 11th Manhattan Beach CA 90266 Mira Costa Sold Home" href="http://www.redfin.com/CA/Manhattan-Beach/1420-11th-St-90266/home/6704407">1420 11th</a> was a probate sale that closed 7% <em>above</em> list price for $854k, the lowest priced SFR closed in Mira Costa last month. On the other side of the spectrum, the highest priced home closed was <a title="1401 2nd St Manhattan Beach CA 90266 Mira Costa Section Sold Home" href="http://www.redfin.com/CA/Manhattan-Beach/1401-2nd-St-90266/home/6704575">1401 2nd St</a> for $1.800m after just over two months on market.</p>
<p><a href="http://socalrea.com/files/2011/10/Mira-Costa-Section-Market-Trends-Sep11.jpg"><img class="alignleft size-full wp-image-1015" src="http://socalrea.com/files/2011/10/Mira-Costa-Section-Market-Trends-Sep11.jpg" alt="Mira Costa Section Market Trends Sep11 Manhattan Beach Home Sales Slip In September" width="616" height="415" title="Manhattan Beach Home Sales Slip In September" /></a></p>
<h2>Let&#8217;s Not Forget Manhattan Village</h2>
<p><a href="http://socalrea.com/files/2011/10/1204-Harness-St-Manhattan-Beach-CA-90266-Manhattan-Village-Sold-Home.jpg"><img class="alignleft size-thumbnail wp-image-1016" src="http://socalrea.com/files/2011/10/1204-Harness-St-Manhattan-Beach-CA-90266-Manhattan-Village-Sold-Home-150x150.jpg" alt="1204 Harness St Manhattan Beach CA 90266 Manhattan Village Sold Home 150x150 Manhattan Beach Home Sales Slip In September" width="150" height="150" title="Manhattan Beach Home Sales Slip In September" /></a>Manhattan Beach has a beautiful Planned Urban Development (PUD) community in Manhattan Village, where 3 homes sold last month &#8211; 2 being townhouses, the other a SFR. Combined sales volume was $2.337m with a median price of $765k, or $491 sqft. With an average DOM of 128, these homes stayed on market longer than the rest of Manhattan Beach (avg DOM of 74). Homes were priced about right with sales prices coming in, on average, less than 4% of the original list prices.</p>
<p>The lone SFR was a bungalow that sold for $836.5k at <a title="1204 Harkness St Manhattan Beach CA 90266 Manhattan Village Sold Home" href="http://www.redfin.com/CA/Manhattan-Beach/1204-Harkness-St-90266/home/6703575">1204 Harness St</a>.</p>
<p><a href="http://socalrea.com/files/2011/10/Manhattan-Village-Market-Trends-Sep11.jpg"><img class="alignleft size-full wp-image-1017" src="http://socalrea.com/files/2011/10/Manhattan-Village-Market-Trends-Sep11.jpg" alt="Manhattan Village Market Trends Sep11 Manhattan Beach Home Sales Slip In September" width="617" height="419" title="Manhattan Beach Home Sales Slip In September" /></a></p>
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