Wouldn't you like to know the future?
One ancient practice is reading tea leaves.
So here are some metaphorical tea leaves in the form of a chart.
How's the real estate market doing in Manhattan Beach?
What kind of year is 2021 going to be?
Look to the number of new purchase contracts written…
Wouldn't you like to know the future?
One ancient practice is reading tea leaves.
So here are some metaphorical tea leaves in the form of a chart.
How's the real estate market doing in Manhattan Beach?
What kind of year is 2021 going to be?
Look to the number of new purchase contracts written early in the year, Jan. 15-Feb. 15.
So far, with 27 new escrows opened in this period, we're looking to be:
> on par with 2018-19,
> better than 2017 and 2020, but
> lagging hotter years earlier in this cycle (2013-16).
A couple more notes. The 2020 figure is from a time before COVID-19 was well known or having any appreciable impact on the economy or real estate. So this is one of the last times we might compare in-the-moment data from last year to this year and imagine a fair comparison, "all things being equal."
Inventory this year, 87 listings as of mid-February, was a bit higher than 2020, a bit lower than 2019, also in the range of "normal." (At the time of this writing, inventory was down already due to some quick sales.)
Both of these data points are among very rare reports since last Summer showing local real estate data more or less "normal."
Yes, we know the world still isn't really opened up yet, the broader economy has both challenges ahead (and some upside), so "normal" is a word one uses carefully today.
Still, 2021 is neither blistering nor lagging. Good enough for now.
Let's see how the Spring market shapes up.
Here's the rest of our local real estate market update report for the period ending 2/15/21:
> 87 active listings as of 2/15/21 (+12 from 1/31/21)
> 59 SFRs (+8)
> 28 THs (+4)
See the Inventory list as of 2/15/21 here, or see the MB Dashboard for up-to-the-minute data.
Active listings by region of Manhattan Beach in this report:
> Tree Section: 17 actives (+3)
> Sand Section: 46 actives (+7)
> Hill Section: 4 actives (flat)
> East MB: 20 (+2)
We're also providing a report on closed sales by region of MB.
Sales data, including PPSF for all properties, are organized by sub-region of Manhattan Beach.
Here's a link to the spreadsheet: "MB Pending/Sold as of 2/15/21".
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 4:40am 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.