More and more sellers are sensing that "the water's fine" and are jumping in.
That is to say, after several weeks of suppressed local real estate inventory, we're seeing the number of available properties climb steeply and quickly.
In just 7 days, we've seen 28 listings join the list of actives in Manhattan…
More and more sellers are sensing that "the water's fine" and are jumping in.
That is to say, after several weeks of suppressed local real estate inventory, we're seeing the number of available properties climb steeply and quickly.
In just 7 days, we've seen 28 listings join the list of actives in Manhattan Beach, including 21 that were newly listed this past week.
The inventory total as of Saturday morning was 123 active, 19 on hold, for a total of 142.
An additional 7 listings are "coming soon" using a new MLS system that is not visible to the public.
Our new chart breaks down the inventory (without "coming soon" listings) to show how long active listings have been out there.
We see that somewhat less than half of listings (45%) have been active 30 days or more. That's 64 homes for sale more than a month.
In the past week, 21 were newly active, 1 fell out of escrow and 6 moved from a "hold" status to "active," rejoining the list of publicly visible listings after some time off. These 28 listings together make up 20% of current active inventory, when the 19 "hold" listings are included in the denominator.
The 19 listings on "hold" make up 13% of total inventory, about half the share that "holds" made up in the first weeks of "safer at home."
All of the new listings represent the same "bet" we've pointed to before: That it's time for the market to get moving again.
The number of new escrows in this past week was only 6, obviously lagging the new influx of supply, but let's give the market some time to do its work.
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 November 30th, 2023 at 4:31pm PST. 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.
