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South Bay Real Estate News
3 Things You Need To Know:
The Inventory Is Stabilizing And So Are The Housing Prices.

Manhattan Beach Properties Current Market Overview:

Manhattan Beach has 102 active listings and 68 properties are in Escrow. There were 45 closed sales in May (Two properties sold under 1 million and 28 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 $2,971,000.  Manhattan Beach has 1.8 months of available inventory.  The average price per sq/ft. was $1105 in May.

Hermosa Beach Properties Current Market Overview:

The Hermosa Beach real estate market has 48 Active listings and 35 homes are in Escrow. There were 22 closed sales in May and only two of them were under 1 million. Hermosa has about 1.8 months of inventory. Most buyers were able to negotiate a 3% discount on the purchase of their new homes. The average selling price in Hermosa Beach in May has increased a lot from last month to $3,007,000. The homes sold this month at an average sq/ft price of $1311. Why?  There were three expensive Strand Homes sold and one of them sold for $14,150,000.

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 “Gold Medal Services”  for all of your Real Estate needs.  We are here to help you buy or sell your dream home.