Manhattan Beach Real Estate- February Update

Interesting 2017 Real Estate Forecast (Robert Hirt)
Interesting 2017 Real Estate Forecast
(Robert Hirt)
 
South Bay Real Estate News
 
3 Things You Need To Know:

Manhattan Beach Properties Current Market Overview:

Manhattan Beach has 76 active listings and 35 properties are in Escrow. There were 23 closed sales in January (Zero properties sold under 1 million and 15 over  2 million). Last month, on the avg. home buyers were able to negotiate a 8discount for their homes. The average selling price in Manhattan Beach Properties was $2,901,000.  Manhattan Beach has 2.3 months of available inventory. We had a slight increase in inventory but buyers were able to negotiate a deal since many properties were on the market for a little while longer than normal, avg. days on the market is now 50 days. What will happen to the real estate market if/when the interest rates rise?

Hermosa Beach Properties Current Market Overview:

The Hermosa Beach real estate market has 41 Active listings and 20 homes are in Escrow. There were 14 closed sales in January and 5 of them were under 1 million. Hermosa has about 2.9 months of inventory. Most buyers were able to negotiate a 6% discount on the purchase of their new homes. The average selling price in Hermosa Beach in January has decreased from last month to $1,417,000. The homes sold this month had an average sq/ft price of $812.

Thank you for tuning in to Manhattan Beach Properties, an informative real estate blog. Please contact our Real Estate Team for more information on how to use our “Gold Medal Services”  for all of your Real Estate needs.  We are here to help you buy or sell your dream home.

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