A December to Not Remember - Manhattan Beach Market Update for 12/31/22

By Dave Fratello | January 3rd, 2023

The year that was, 2022... is a year that many who work in real estate would love to see stay where it was, in the past.

If you were a buyer, seller or broker who closed a sale in Manhattan Beach in December, you were part of a lonely (but lucky) crowd.

The 18 sales recorded in the city during December were the fewest in a December since 2008's 16 sales.

This pace for closed sales was about half that seen in each of the prior 3 years.

The median price for closings in December: $2.175M, or about a million dollars below the citywide median price for the year. (This ultra-low number is more an artifact of the very small sample, but still, there were only 6 sales over $3M.)

The slow pace continued in new escrows, the month ending with only 8 new deals inked in December on Manhattan Beach homes for sale.

A sizable number of listings quit the market during the month. A total of 30 offerings went dark, through a combination of expired listings, canceled listings and others that went "on hold," disappearing from the MLS temporarily.

While we entered December with 61 active listings, there were only 36 on market at year's end.

Now, the calendar has flipped. Maybe you're getting rained upon (or snowed upon, lucky!), but we do think brighter days are ahead. Just gotta be patient.

Throughout this coming month, we'll have a series of recaps of 2022 activity, including high and low sales, price trends, and so on.

We promise it won't all be gloomy. Well, the blog won't be. We can't promise much about the weather.

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Here's the rest of our local real estate market update report for the period ending 12/31/22:

> 36 active listings as of 12/31/22 (-13 from 12/15/22) 

> 27 SFRs (-11)

> THs (-2)

See the Inventory list as of 12/31/22 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

> Tree Section: actives (-4)

> Sand Section: 18 actives (-6)

> Hill Section: actives (-3)

> East MB: (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 12/31/22".

Please see our blog disclaimer.

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