The full year data for 2016 are in, and Manhattan Beach real estate rose to a new high.
With a median price of $2,075,000, local real estate carved out a new peak.
However, that's a rise of only $15,000 in the median from 2015, less than 1%.
As you see clearly in our chart, that's a significant…
The full year data for 2016 are in, and Manhattan Beach real estate rose to a new high.
With a median price of $2,075,000, local real estate carved out a new peak.
However, that's a rise of only $15,000 in the median from 2015, less than 1%.
As you see clearly in our chart, that's a significant leveling out, after a price trend that had been all uphill. The year-to-year increase in the median price for Manhattan Beach:
2012-2013: 15%
2013-2014: 17%
2014-2015: 8%
2015-2016: 1%
So maybe we're leveling off now?
There's some other good news in the numbers. The number of sales actually ticked up in 2016 after 3 years of decline.
As you see, while prices were rising in recent years, the total number of sales was actually declining. We've speculated here quite a bit about whether declining sales and rising prices might be traceable, in part, to very tight inventory numbers. (There were fewer homes for sale, therefore there were fewer sales, and people were willing to pay more... get it?)
With the steady increase and lingering of inventory in 2016, we actually did see more home sales: 391 compared to the prior year's 359. That's a decent 9% increase in sales.
The actual figure of 391 looks a bit more like the recovery years of 2010 and 2011 than the red-hot years of the recent local run-up.
If prices stop escalating and inventory holds at higher figures, might we see more sales this year?
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 22nd, 2025 at 2:35pm 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.
