You can say a lot with one chart. So there, we said it.
Now for more words.
At this time of year in 2015, there were 42 homes on the market.
Today, there are 83, effectively double last year's inventory.
2014? There were just 33 homes for sale in Manhattan Beach. In 2013, there were 45.
Our…
You can say a lot with one chart. So there, we said it.
Now for more words.
At this time of year in 2015, there were 42 homes on the market.
Today, there are 83, effectively double last year's inventory.
2014? There were just 33 homes for sale in Manhattan Beach. In 2013, there were 45.
Our new chart here shows green, green 2016 starting in a different place than recent years, and shooting upward, inventory building consistently. The way this year sticks out, it's almost like we're graphing a totally new category of data.
But no. Each twice-monthly data point spanning more than 3 years here comes from from the MLS, from publicly posted Manhattan Beach Market Updates right here on MBC.
It's 2016 that's different, not the type of data.
A trend like this has been taking shape since Summer 2015. (See "Inventory Higher in 2015; Prices, Too.") Today, at 83 listings, we're at a new high for the entire 3-plus years recorded in this chart.
Working with buyers – as we do a great deal here – this is the time of year that we always look forward to. After the Super Bowl, and especially after Ski Week, inventory starts to come out. Buyers finally have options.
The October-January period can seem so bleak, with so few good options for buyers wanting to make their move. Then our "real estate Spring" breaks out, and with it comes hope.
For the first time in however-long-it-is-now, there's actually a surplus of homes in a couple of market categories: Sand Section townhomes and nice Tree Section family homes.
Well, let's be more precise with our terms. It's not a true surplus if the market can absorb them all efficiently.
So that's the challenge now. There are more buyers active now, just as there are more homes available. It's the seasonal cycle we've all been through plenty of times.
Will buyers be able to leverage their feelings of choice into getting better deals among the available homes?
There are still plenty of indicators that this is a seller's market and that prices continue to rise to new heights. (See, for example, "Bullish Start to 2016.")
But a ballooning inventory trend is not a seller's friend.
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Data note: The snapshot of 83 listings active in MB was taken late morning 2/26/16, not the last day of the month. All other data points in the chart come from the middle or end of a month. The figure may be different on 2/29.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 19th, 2024 at 12:35am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.