One in Three MB Listings Sold in Spring

Posted by Dave Fratello on Monday, June 4th, 2007 at 5:28am.

Here's a preview of some number-crunching MBC will be publishing this week.

MBC tracked 126 homes (SFRs) listed west of Sepulveda this Spring (which we define as, essentially, April and May – actual date range: March 27-May 31).

36% of the listings wound up pending or sold by May 31.

The data by section:
  • 45% of listings in the Sand Section were pending or sold, as were
  • 32% of listings in the Hill Section, and
  • 32% of listings in the Tree Section.
Clearly, if you hear that the Sand Section is hot, the data back that up. Keep in mind, MBC only tracks SFRs, but the townhomes in the Sand Section are moving well, too.

And if you hear that things are slow in the Trees above $2m – where a lot of new construction is lingering – well, the data back that up, too. Just 25% of the listings over $2m in the Trees sold or went pending. In raw numbers, that was 9 out of 36 of the $2m+ listings.

MBC is not in a position to offer comparative data. It'd be great to set 2007 data alongside 2003, '04, '05 and '06 data. But we go forward with the data we have.

We're aware of markets near and far where much more inventory is going unsold despite desperate measures. And yet, don't we all know that MB used to be a bit hotter than this?

A local realtor who blogs regularly, Kaye Thomas, offers her own "market snapshot." She also observes:
The market is showing signs of slowing down a bit... which is normal for this time of
year.
Note: All the data referenced above, and to come this week, is easily compiled from the most recent Manhattan Beach Market Update. MBC offers it to you in a PDF but we're (obviously) working from a spreadsheet, and we'll offer analysis from several angles. Graphs and charts are on the agenda as well.

UPDATE 6/7/07: The graphs for actives/solds are up here at MB Market Update.
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