28 Listings Come to Market in 7 Days

By Dave Fratello | May 23rd, 2020

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.

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