The Manhattan Beach Real Estate market is hot and the inventory is extremely low. The market is good for sellers and frustrating for buyers. The good homes have multiple offers and the buyers who missed out are anxious to find a different home and sad that they didn’t get their dream home. The homes that were priced under $1 million were selling well and the Manhattan Beach Properties that are in good condition and/or great locations over 2 million were selling too. There were 3 homes in Manhattan Beach that sold for over $2 million. Hermosa Beach was very active this month with 29 homes in Escrow with homes that had multiple offers. Three homes sold for over 2 million!
Manhattan Beach has 89 active listings and 84 properties are in Escrow (28 of these properties are under 1 million). There are 16 homes over 2 million that are in escrow. There were 19 closed sales last month with 6 of them under a million. In February, we did see a lot of active buyers and we noticed many multiple offers on properties. The buyers in February were able to negotiate about 5% discount from the last offered price. The median sold price was $1,625,000.
The Hermosa Beach real estate market has 45 Active listings. The Sand Section has 26 active listings with 11 pending, Hermosa Valley Section has 9 actives & 5 in escrow, and Hermosa Hill section, East of PCH has 10 actives & 13 in escrow. There were 15 closed sales in February and 7 of them were under 1 million. HB has 2.1 months of inventory. Most buyers were able to negotiate a 2% discount on the last offered price of their new home. The median sold price in Hermosa Beach is $1,050,000.
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 expert services for all of your Real Estate needs. We are here to help you buy or sell your dream home.
FREE- search like a Realtor for FREE by signing up for a Listing book account at http://goldenfonoi.listingbook.com.