One year ago, as we looked back at the sales data for Manhattan Beach real estate in 2012, we were a bit surprised. The data did not then show a rising market, even though everyone working in the market had seen and felt it. (See "2012 Wrap: More Sales, Tiny Median Bump.")
This year, there's no such problem.
The median price for SFRs in Manhattan Beach in all of 2013 jumped 18.5% year-over-year to hit $1.725M.
Judging by median prices for SFRs, our market had hit about the same bottom 3 times in recent years. As our chart shows, in 2009, 2011 and 2012, the median price was about the same, near $1.450M in each case, and down 18% from the 2006-2007 peak.
Now we're up 18% over 2012 and back near 2006-2007 territory again, just 3% shy of the 2006 peak…