Normalcy Among Record Sales - Manhattan Beach Market Update for 10/31/20

By Dave Fratello | November 3rd, 2020

How extraordinary was Summer 2020 in Manhattan Beach real estate?

The blistering pace of new deals made in Summer resulted in a knockout total of closed sales in September and October.

With 112 sales in those two months combined this year, MB home sales beat the prior record by 42%, the 79 sales recorded in Sept.-Oct. 2016.

These past two months saw 150% of the sales recorded just last year in the same period, which had marked a low point for the past 13 years. (Another case of "from worst to first.")

Roughly speaking, September and October saw about 85% more closed sales than would be typical this time of year.

However you look at it, this has been an amazing time.

536 4th Street Manhattan Beach CAAs an aside, Dave's Edge Real Estate Agency has closed several sales in this dataset, including most recently 536 4th (pictured), a nicely remodeled SFR in the South End, and 225 15th, a largely original cottage in a spot conducive to new development that will have big ocean and pier views.

Plus, we've got 4 active escrows in MB at this writing, and new listings coming. (One is on the Coming Soon roster, 417 27th.) We're grateful to be chosen as real estate partners for our clients' local business.

Now, yes, the market remains busy, but, as we close the books on October, we see the first "normal" month in one respect.

New escrows have come back to a typical pace for the time of year.

In fact, October 2020 was only 4th-best among the last 8 years, and, oddly, down 23% from last year by this measure.

(Funny, isn't it, how Sept./Oct. 2019 were the worst for closed sales, but Oct. 19 was best for new escrows? The market sometimes ebbs and flows unpredictably within a year.)

Inventory at the end of October 2020 is also a bit higher than last year, 110 vs. 99 listings in 2019. Mostly, 2019 was a high-inventory year, setting highs for this cycle.

Here's the rest of our local real estate market update report for the period ending 10/31/20:

> 110 active listings as of 10/31/20 (-1 from 10/15/20) 

> 84 SFRs (+3)

> 26 THs (-4)

See the Inventory list as of 10/31/20 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

> Tree Section: 18 actives (-2)

> Sand Section: 60 actives (+1)

> Hill Section: 9 actives (flat)

> East MB: 23 (flat)

We're also providing a report on closed sales by region of MB.

Sales data, including PPSF for all properties, are organized by sub-region of Manhattan Beach.

Here's a link to the spreadsheet: "MB Pending/Sold as of 10/31/20".

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