South Bay Real Estate News
3 Things You Need To Know:

Manhattan Beach Properties Current Market Overview:

Manhattan Beach has 126 active listings and 45 properties are in Escrow. There were 39 closed sales in June (Three properties sold under 1 million and 19 over  2 million). Last month, on the avg. home buyers were able to negotiate a 3% discount for their homes. The average selling price in Manhattan Beach Properties was $2,081,000.  Manhattan Beach has 3.3 months of available inventory. The inventory is increasing and the markets seems to be softening. It’s becoming a buyers market.

Hermosa Beach Properties Current Market Overview:

The Hermosa Beach real estate market has 58 Active listings and 24 homes are in Escrow. There were 22 closed sales in June and 5 of them were under 1 million. Hermosa has about 2.6 months of inventory. Most buyers negotiated a 2% discount on the price for their new homes. The average selling price in Hermosa Beach in June has decreased from last month to $1,648,000. The homes sold this month had an average sq/ft price of $868.

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