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A Rockin' 3 Weeks in MB Sales

When you are looking to figure out how the Spring market is shaping up, you want to see how some of the closings roll in from April deals.

And here you go...

Over the last 3 weeks, out of 17 sales that have closed, 11 sales were at or over asking price, while only 6 were under asking price.

In fact, 7 sold over asking price, and 4 sold for exactly asking. (We're looking at sales closing from April 26-early May 16).

That's quite a turnaround compared to prior weeks of 2023.

Going back to look at closings from Jan. 1-April 25, out of 57 closings, 37 were under asking price. Only 9 were over asking.

sales-data-early-2023-sales-in-manhattan-beach

The caveats here: We're dealing with small sample sizes. Also, comparing Spring to Winter sales probably always will see trends moving in a brighter direction at about this time of year. 

So, even if this bit of new data is not screaming headline news, and isn't based on large numbers, there's one thing this batch of data is not: A warning.

Things could have been different about this time of year...

At the start of this year, after a woeful 2nd half to 2022, it looked possible that a "buyers' market" mentality (and reality) could take hold in 2023. Buyers could be expecting ongoing price declines, and watching and waiting on listings until they could take their shot at one that was getting long in the tooth, trying to make some kind of fabulous deal.

There was a bit of waiting-and-seeing early in the year, but over the last 6 weeks or so, the market has notably picked up in Manhattan Beach, the South Bay and throughout SoCal. (See "Where Did All the Multiple Offers Come From?")

If we were now in the thick of a buyers' market, you wouldn't see 11 out of 17 sales closing at or over asking.

There are 38 pending sales today, promising more data for the ensuing weeks. We'll see what they show.

Remember, any time you want to see all the latest sales, either start on the Manhattan Beach Dashboard or go straight to this link for all the latest closed sales of homes in Manhattan Beach.

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UPDATE: A couple days after this post went live, 2 more sales had closed, both over asking price.

That would make the stats:

13 out of 19 sold at or over asking

9 out of 19 sold over asking

 

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 April 25th, 2024 at 12:40am 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.