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 8% discount 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.
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