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

Manhattan Beach Properties Current Market Overview:

Manhattan Beach has 123 active listings and 36 properties are in Escrow. There were 33 closed sales in September (One property sold under 1 million and 18 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 $2,938,000.  Manhattan Beach has 3.7 months of available inventory.  The highest priced home that sold this month was $15.4 million on 34th and The Strand. The average price per sq/ft. was $1290 in September.

Hermosa Beach Properties Current Market Overview:

The Hermosa Beach real estate market has 51 Active listings and 22 homes are in Escrow. There were 9 closed sales in September and None of them were under 1 million. Hermosa has about 3.3 months of inventory. Most buyers negotiated a 7% discount off the purchase price of their new homes. The average median price in Hermosa Beach in September has increased a lot from last month to $3,052,000. The homes sold this month at an average sq/ft price of $1383. There were not a lot of sales this month but 3 properties sold for $4,000,000+ causing the price per sq/ft of Hermosa Beach homes to increase.

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