South Bay Real Estate News
3 Things You Need To Know:
Manhattan Beach Properties Current Market Overview:

Manhattan Beach has 115 active listings and 44 properties are in Escrow. There were 33 closed sales in August (One property sold under 1 million and 21 over  2 million). Last month, on the avg. home buyers negotiated a 7% discount for their homes. The average selling price in Manhattan Beach Properties was $3,304,000.  Manhattan Beach has 3.5 months of available inventory.  The highest priced home that sold this month was $20 million on Pacific street. The average price per sq/ft. was $1202 in August.

Hermosa Beach Properties Current Market Overview:

The Hermosa Beach real estate market has 42 Active listings and 17 homes are in Escrow. There were 24 closed sales in August and two of them were under 1 million. Hermosa has about 1.8 months of inventory. Most buyers negotiated a 3% discount off the purchase price of their new homes. The average median price in Hermosa Beach in August has decreased a lot from last month to $1,500,000. The homes sold this month at an average sq/ft price of $1055. Two Strand homes sold this month on 18th Street for about 7 million each.

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