South Bay Real Estate News
3 Things You Need To Know:
|2015 Real Estate Market Forecast by Rob Hirt|
Manhattan Beach has 38 active listings and 42 properties are in Escrow (3 properties are under 1 million and 16 are over 2 million). There were 35 closed sales in November. Last month, home buyers paid asking price or over for their properties. The average selling price in Manhattan Beach Properties was $3,169,000. Manhattan Beach has 1.2 months of available inventory. The market is slowing for the holidays but the low housing inventory is causing prices to climb.
The Hermosa Beach real estate market has 30 Active listings and 24 homes are in Escrow. There were 12 closed sales in November and 2 of them were under 1 million. Hermosa has about 1.7 months of inventory. Most buyers negotiated a 3% discount for their new home. The average selling price in Hermosa Beach in November has increased from last month to $1,437,000.
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