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

Manhattan Beach Properties Current Market Overview:

Manhattan Beach has 99 active listings and 61 properties are in Escrow. There were 38 closed sales in May (Zero property sold under 1 million and 29 over 2 million). Last month, on the avg. home buyers negotiated a 3% discount for their homes. The average selling price in Manhattan Beach Properties was $3,163,000.  Manhattan Beach has 2.4 months of available inventory.  The highest priced home that sold this month was $7.307 million on 11th Street in the Sand Section. The average price per sq/ft. was $1060 in May.

Hermosa Beach Properties Current Market Overview:

The Hermosa Beach real estate market has 56 Active listings and 29 homes are in Escrow. There were 21 closed sales in May and Two of them were under 1 million. Hermosa has about 2.4 months of inventory. Most buyers negotiated a 3% discount off the purchase price of their new homes. The average sold price in Hermosa Beach in May has decreased a lot from last month to $1,842,000. The homes sold this month at an average sq/ft price of $949. There were not a lot of sales this month but a home on 25th and Manhattan Ave sold for $4,401,000.