Manhattan Beach Market Update for 12/15/20

By Dave Fratello | December 16th, 2020

After hovering a bit high in Autumn, inventory is diving for year-end.

It's a normal trend, although as you can see in our chart here, with 2019 represented by gold and 2020 by white, the seasonal dropoff began much earlier last year, in mid-October.

Hey, buyers were still buying throughout November this year. It was good to keep your house on the market, even start a new listing, while the action was going.

At this time of year, though, even in a COVID Christmas season with fewer families traveling, it's just quieter in real estate, and you can understand why sellers will choose to take some time off.

There are 13 listings in a "hold" status on the MLS now, high for any time of year except for Spring 2020, when dozens of listings went on hold waiting for the market to open up a bit.

With 89 listings as of the 15th, we're down 20 from only Dec. 1st.

868 5th Street Manhattan Beach CAOnly 2 listings have launched in the past week, and one (near land value) is already in escrow: 868 5th (asking $4.000M).

New deals have dropped off to normal in the first part of December. Just 10 new purchase contracts were inked in Manhattan Beach in these first two weeks. Same as last year, slightly more than recent years.

Remember, November 2020 was bananas for a November. (See "November Provides Another Spark - MB Market Update for 11/30/20.")

Here's the rest of our local real estate market update report for the period ending 12/15/20:

> 89 active listings as of 12/15/20 (-20 from 11/30/20) 

> 62 SFRs (-16)

> 27 THs (-4)

See the Inventory list as of 12/15/20 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

> Tree Section: 12 actives (-3)

> Sand Section: 48 actives (-11)

> Hill Section: 6 actives (-3)

> East MB: 23 (-3)

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 12/15/20".

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