Happy New Year!  Here is a Manhattan Beach Real Estate market snap shot of our residential market at the beginning of the new year 2012. There are only 84 active Manhattan Beach Properties listed and 14 properties are in Escrow (4 of these properties are under 1 million). There were 27 closed sales last month with 5 of them under a million. The story for December is that 3 homes sold for over $2 million, one home sold on Terraza Street in East Manhattan Beach for $4.9 million. The home on Terraza started at 10 million a little over 2 years ago. The median sold price this past month was $1,445,000. The buyers in December were able to negotiate about 5% discount from the last offered price.

The Manhattan Beach Real Estate market is stable and the inventory remains very low. The last time the inventory was this low was in 2004. Here is a good article that may explain why there is  low inventory in Manhattan Beach.  http://www.latimes.com/la-fi-harney-20120101,0,1287124.story The Manhattan Beach homes that are priced well and that are in good condition sell fast and often have multiple offers. The homes in Manhattan Beach in which the home owners enhanced their curb appeal, updated their home and/or painted to lure and wow perspective buyers and that were priced under $1 million were selling well and the Manhattan-Beach Properties that are in good condition and/or great locations under 2 million sold well in December.

Where is the best place to eat in Manhattan Beach?

Manhattan Beach has great restaurants in the downtown area between 9th and 12th street.  I have a few favorites that I would recommend to dine. The food is great and so is the atmosphere.  I like MB Post, Rock N Fish, Fonz’s, Mangiamo, Talia’s, Petro’s, The Strand House, Simmzy’s and Mucho.  You really can’t go wrong when you dine at these restaurants.  The only problem you may run into is getting a reservation.  If you are looking for Sushi, I recommend Itzakaya and Sashi.  If you are shopping near the Manhattan Beach Village Mall and you get hungry for a bite to eat go to Tin Roof, the food is great and so is the service.  If you have kids, I like Islands and CPK.  They are located in the mall too. If you are hungry in Manhattan Beach, you have lots of good options to dine but plan ahead to ensure a seat at a table.

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