Tip of the month: It’s time to buy Manhattan Beach Real Estate. The interest rates are at historic lows. The housing market is stable. The rental market demand is driving rents upward making it more attractive for home ownership rather than paying the landlords mortgage. I would get with your CPA to see if he agrees especially with the tax implications.
The The South Bay’s housing market is hot , the inventory remains very low and is shrinking steadily. The is the lowest housing inventory since 2004. The well priced homes that are in good condition sell fast and often have multiple offers. The homes that were priced under $1 million were selling well and the Manhattan Beach Real Estate that are in good condition and/or great locations over 2 million were selling like hot cakes. The Manhattan Beach luxury Real Estate buyers were very active this month. There were 5 homes that sold for over $2.5 million.
There are 94 active Manhattan Beach Properties and 65 homes are in Escrow (18 of these properties are under 1 million). There were 11 homes over 2 million and one Strand home offered at $10,500,000 that went into escrow this month. There were ONLY 3 closed sales last month with 1 of them under a million. In January, we did see a lot of active buyers looking for homes but they did not put any offers on the table until late January or early February. We will not see the closed sales until March. The buyers in January were able to negotiate about 8% discount from the last offered price. The median sold price for Manhattan Beach Real Estate was $1,425,000 in January.
The Hermosa Beach Real Estate market has 50 Active listings. The Sand Section has 25 active listings with 15 pending, Hermosa Valley Section has 10 actives & 3 pending, and Hermosa Hill section, East of PCH has 15 actives & 11 in escrow. There were 4 closed sales in January and 2 of them were under 1 million. HB has 2.5 months of inventory. Most buyers were able to negotiate a 15% discount on the last offered price of their new home. The median sold price for Hermosa Beach Real Estate is $900,000.
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