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

Manhattan Beach Properties Current Market Overview:

Manhattan Beach has 80 active listings and 29 properties are in Escrow. There were 33 closed sales in November (Zero properties sold under 1 million and 16 over  2 million). Last month, on the avg. home buyers were able to negotiate a 6% discount for their homes. The average selling price in Manhattan Beach Properties was $2,225,000.  Manhattan Beach has 2.4 months of available inventory. We had a decrease in inventory and some buyers saw an opportunity 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 45 days.

Hermosa Beach Properties Current Market Overview:

The Hermosa Beach real estate market has 44 Active listings and 20 homes are in Escrow. There were 16 closed sales in November and 4 of them were under 1 million. Hermosa has about 2.6 months of inventory. Most buyers negotiated a 6% discount on the price for their new homes. The average selling price in Hermosa Beach in November has decreased from last month to $1,630,000. The homes sold this month had an average sq/ft price of $968.

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